The BECU foreign exchange rates and fees In this section, we’ll look at the credit union’s foreign exchange services and transfer fee structure to see how it stacks up against more specialized providers.
BECU foreign currency exchange rates BECU’s uses Wells Fargo as its intermediary bank for international wire transfers, so typical bank fees will apply to foreign currency transactions. Before depositing funds into your BECU account, Wells Fargo, for instance, converts the foreign currency to US dollars using the exchange rate in effect at the time of the transaction. The information about currency exchange rates provided by other sources does not take into account Wells Fargo’s internal currency exchange rates. Before making these transactions with BECU, you might want to think about checking the exchange rates for foreign currencies at Wells Fargo. Below, we will discuss BECU’s foreign transaction fees.
Fees for BECU transfers Does BECU charge fees for foreign transactions? The BECU charges fees for foreign transactions.
The following are BECU’s wire transfer fees:
Despite the fact that BECU does not charge for incoming wire transfers, the correspondent bank or credit union may charge an exchange fee, depending on the terms of the exchange services. Outgoing domestic wire transfers cost $25, while international wire transfers cost $35. Incoming domestic or international wire transfers cost nothing. Depending on the recipient nation’s policies, incoming international transfers may also incur bank fees and foreign taxes.
You should compare a variety of money transfer options other than your bank or credit union in order to find the best rates on foreign currency exchange without having to pay a lot in fees. This will help you determine which locations you should avoid making currency exchanges and provide you with some reliable alternatives to keep your options open. To give you an idea of the BECU foreign currency exchange rates, we have broken them down above.
For international money transfers, many of the best companies in the remittance industry offer services with no or low fees. For transfers of more than $2,000, TorFX charges no fees. BECU SWIFT Codes The BECU Routing Number is 325081403. This number is required when arranging domestic wire transfers.
Customers will require the BECU routing number and Wells Fargo’s SWIFT code for international wire transfers: WFBIUS6WFFX.
The advantages and disadvantages of BECU membership and using the credit union’s international services are outlined below:
Benefits of BECU Online Banking:
Financial education and direction: In an effort to assist its members in developing skills and achieving financial stability, BECU provides financial education.
Federal Insurance: Because the National Credit Union Administration insures BECU, deposits are protected up to $250,000 USD
via online and mobile services: BECU online Banking gives customers the ability to manage their accounts, pay their bills, and arrange for money transfers through mobile and online platforms. Compared to banks, credit unions typically have fewer branches; For those who prefer in-person services, this may be inconvenient.
Members only: Answers to key questions about the BECU Can I open a BECU account in any country? BECU products and services are only available to members, making them less accessible than specialist companies like Wise, Xe, and WorldRemit.
No, you must be a resident of Washington, Oregon, or Idaho, and meet the other eligibility requirements outlined in BECU’s rules.
Exist transfer restrictions?
A single wire transfer of $100,000 USD or its equivalent is the maximum amount you can send in foreign currency. The required information for incoming wire transfers, including any transfer limits set by the receiving nation, can be found in a PDF file accessible via a link on the BECU website.
For international money transfers, many of the best companies in the remittance industry offer services with no or low fees. For transfers of more than $2,000, TorFX charges no fees.
BECU SWIFT Codes The BECU Routing Number is 325081403. This number is required when arranging domestic wire transfers.
Customers will require the BECU routing number and Wells Fargo’s SWIFT code for international wire transfers: WFBIUS6WFFX.
With the BECU, how long do transfers take?
Homegrown wire moves take between 1-3 work days to arrive at the beneficiary’s monetary foundation. The recipient of an international wire transfer may not receive their funds for up to 14 days: We have witnessed some of the longest delivery windows.
Can I make international purchases with a BECU debit card?
BECU will not charge any foreign transaction fees to its customers when they use an international ATM.
Additionally, you can make international purchases and cash advances with your BECU Visa card without incurring a foreign transaction fee. Additional benefits include worldwide automatic travel accident insurance, travel and emergency assistance services, and travel protection. You can use domestic or international wire transfer services.
To send money to another person or a financial institution, you will need to provide the following information:
Your bank account number, the name and street address of the recipient, and the bank name and address. For transfers within the United States, the American Bankers Association number (ABA wire routing number) of the recipient bank.
The BECU website provides links to forms that provide all instructions for incoming and outgoing wire transfers. The BECU routing number is 325081403.
You can also send money in person at any BECU branch, through Autopay from a BECU or non-BECU account, through BECU Online Business Banking, or through the BECU Mobile App.
Money to be received If you are going to receive a domestic or international wire transfer, be sure to provide the following information to the sender:
What options do you have for contacting customer service?
