Need to Make a Transfer?
WHAT IS A WIRE TRANSFER?
A wire transfer describes any electronic transfer of money. Usually, if someone asks for a “bank wire,” they want a traditional, domestic bank-to-bank transfer.
PROCESSING TIME
It only takes a few minutes to set up and initiate a wire transfer. Within the U.S., transfers can often be processed on the same day, depending on how early you submit your request. International wires can take up to a week to process. Domestic wires must be submitted no later than 2 p.m. and international wires no later than 12 p.m. to begin processing on the same day.
WIRE TRANSFER SAFETY
For anyone selling merchandise or services, a money wire poses less risk of fraud than a check because a sender must already have sufficient funds in their account to initiate a wire. Even so, there are some risks to consider and basic safety measures to take when sending or receiving wire transfers.
The main risks with wire transfers relate to sending funds. If you wire money to a stranger or through a business that pays out the proceeds in cash, such as a retail "money transfer" shop, it is harder to verify who got the money. Someone with a fake ID could collect the cash, and the many potential money pick-up locations might make it difficult to track the recipient. This is why it is important to send money only to people or businesses you trust.
Down payments, closing costs, and other wires to a title company or real estate professional are attractive targets for hackers. When buying a home, always verify where the money is supposed to be wired - especially if you get wire instructions by email. Hackers can alter emails (even from people you've been working with for several weeks) and instruct you to send money to the wrong place.
To avoid problems, call the recipient to verify the wire instructions. Likewise, avoid sharing your financial information in emails or opening unknown email attachments.
AVAILABILITY OF FUNDS
Because the money moves quickly, the recipient doesn't have to wait several days for funds to clear before claiming or using the money. In other words, there is usually no hold placed on money received via wire transfer.
Wire Transfer Cost
Wire transfer costs vary depending on the transaction. Please click below to find out more.
Fee & Service Charge ScheduleWiring Money to Coloramo FCU
FOR CREDIT TO: BENEFICIARY BANK:
Corporate America Credit Union
4365 Crescent Road
Irondale, AL 35210
ABA Routing # 262090120
FOR FURTHER CREDIT TO: BENEFICIARY:
Coloramo Federal Credit Union
516 28 Road
Grand Junction, CO 81501
Account #262003010
FOR FINAL CREDIT TO: INFORMATION LINE FOR BENEFICIARY:
For Final Credit to Member’s Name, Account # and checking or savings
Wiring Money from Coloramo FCU
Domestic Outgoing Wire Request Form International Outgoing Wire RequestPlease complete the wire form and return it to Coloramo signed, with an attached copy of your state-issued Identification. If you would like the wire to go out the same day, the wire request needs to be completed no later than 1:30 PM. For an International Wire, please contact us at (970) 243-7280. International Wires must be completed at a branch location near you.
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