Wire Transfers



 
V.P. Credit union offers its membership wire transfer services to efficiently send large amounts of funds domestically and also internationally. Domestic wire transfers are typically deposited to the receiving party’s account within one to two business day. International wire transfers are typically deposited to the receiving party’s account within three to five business days. VPCU sends the wire transfer requests through the Central 1 clearing house and from there the funds may be relayed to other clearing houses depending on the location of the recipient’s financial institution. Please note additional fees may be charged by these other clearing houses.

For efficient wire transfer processing, please refer to the sections below so we can serve you better. Also, please note that when requesting wire transfers to be sent from a VPCU account, we will require the completed wire transfer request form to be completed prior to processing. 
 

SENDING A WIRE TRANSFER

For DOMESTIC OUTGOING (within Canada) wire transfers

Please refer to the wire transfer processing document that can be obtained by clicking HERE. This document must be completed by the member prior to sending the wire transfer.

For INTERNATIONAL OUTGOING (outside Canada) wire transfers

Please refer to the wire transfer processing document that can be obtained by clicking HERE. This document must be completed by the member prior to sending the wire transfer.
 


RECEIVING A WIRE TRANSFER

For DOMESTIC INCOMING (within Canada) wire transfers

Please provide the general routing information to the sender as described below.

Correspondent/Intermediary bank: Central 1 Credit Union
Correspondent/Intermediary bank address: 1441 Creekside Drive, Vancouver, B.C.

Swift Code: CUCXCATTVAN
Beneficiary (Member) Transit Number: 13500
Institution Number: 809
Special Account Number (MICR number): see below

Please contact V.P. Credit Union by phone at 604 683 2434 so we can provide you with your special wire transfer account number also known as a micro encoding number (MICR). This special MICR is required in addition to the general routing information.  
 

For INTERNATIONAL INCOMING (outside Canada) wire transfers

Please provide the general routing information to the sender as described below.

Correspondent/Intermediary bank address: 1441 Creekside Drive, Vancouver, B.C.
Swift Code: CUCXCATTVAN

Beneficiary (Member) Transit Number: 13500
Institution Number: 809
Special Account Number (MICR number): see below

Please contact V.P. Credit Union by phone at 604 683 2434 so we can provide you with your special wire transfer account number also known as a micro encoding number (MICR). This special MICR is required in addition to the general routing information.  
 
For assistance with wire transfers, please call 604 683 2434 or email us at info@vpcu.com.
 


Questions & Answers

1. How much does VPCU charge to process a wire transfer being sent?

Please refer to the latest service charge bulletin for the latest service charges by clicking HERE. Please note that the recipient’s financial institution and the other clearing houses may charge the recipient additional fees while the funds are in transit. We recommend our members connect with the recipient to advise them to check with their financial institution for an outline of all charges.

2. Are there any fees when receiving a wire transfer?
Yes. The Central 1 Credit Union clearing house charges $7 CDN or $9.50 USD for any wire transfer received by VPCU depending on the recipient's currency type in their account. Please note that the sender may have to direct the funds through multiple clearing houses along the way and that may result in additional charges. Please check with the sender's financial institutions for more details.

3. What happens when Canadian funds are wire transferred to international currency accounts?

The recipient would typically receive funds converted into the currency of their bank account. All foreign exchange conversion rates and fees are set by the receiving institution.

If a member is receiving non-Canadian funds into their VPCU account, the Central 1 Credit Union clearing house will convert any non-Canadian funds into Canadian funds. 

4. Who is Central 1 Credit Union?
Central 1 Credit Union is the umbrella organization that assists all credit unions in B.C. and Ontario with many daily operation and functions including acting as a clearing hub for wire transfer transactions. For more information about Central 1, please visit their website by clicking HERE.