SECU international wire transfer: Fees, limits, and rates

State Employees’ Credit Union (SECU) is a member-owned, not-for-profit financial cooperative with nearly 2.8 million members.¹

They offer both domestic and international wire transfer services so you can move your money around the globe. But it's important to be aware of the fees and limits that apply.

Keep reading to learn everything you need to know about SECU international wire transfers. We'll also introduce you to Wise, an easy and low-cost option for sending money abroad.

---

Table of contents

Can I make an international wire transfer with SECU? SECU international wire transfer fee SECU exchange rates Make fast, secure and low cost international transfers with Wise How do you make a SECU international wire transfer? What information do I need to make an international wire transfer? How long does an international wire transfer with SECU take? What is the wire transfer limit for SECU? SECU contact information SECU international wire transfer FAQs

---

Can I make an international wire transfer with SECU?

Yes, SECU offers international wire transfer services to its members. To initiate a wire transfer, you need to visit your local branch or contact Member Services Support.²

SECU also gives you the option to set up recurring wire transfers.² This can be useful if you need to make regular payments.

Like most financial institutions, SECU doesn't process wire transfers to or from certain sanctioned countries. As of October 2024, these include Cuba, Iran, North Korea, Syria and the Crimea Region of Ukraine.²

SECU international wire transfer fee

SECU charges a flat fee of 25 USD for each international wire transfer. This fee is deducted from your account at the time of the transfer.²

There are no fees for incoming wires.²

If SECU and the recipient's bank don't have a direct relationship, SECU will typically use intermediary banks to complete SWIFT wire transfers. Intermediary banks often charge their own fees, usually between 15-50 USD per transaction.

Learn more about international wire transfer fees in our full guide.

SECU exchange rates

In addition to the SECU wire transfer fee, you also have to be mindful of the currency exchange rate markup.

Banks typically don't use the mid-market rate for customer transactions. They apply a markup and give you a less favorable rate than the mid-market rate.

The idea is that you get less foreign currency for your money, and the bank profits from the exchange.

Sometimes, it's not SECU doing the currency exchange but an intermediary bank. These conversions are also typically not done at the mid-market rate.

All of this to say, SECU international fees can quickly add up, so it’s important to compare providers to find the best deal.

Make fast, secure and low cost international transfers with Wise

Send money to 160+ countries with the mid-market exchange rate and low, transparent fees with Wise. Set up a free Wise account online or in the Wise app on iOS and Android, to transfer money fast in 40+ currencies.

Over 50% of Wise payments arrive instantly* — and all Wise transfers are deposited directly into your recipient's bank account for convenience.

No ongoing fees, no hidden charges and no hassle — just fast, transparent international transfers that can beat the banks.

Get started with Wise

*Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions.

How do you make a SECU international wire transfer?

To send SECU wire transfers, you'll need to visit your local branch or contact Member Services Support. They will guide you through the necessary international wire transfer instructions to correctly set up the transfer.²

You can use cash, a cashier's check, a money order or funds from your Checking, Share, Money Market Share, or CashPoints® Global Accounts.²

If you need to set up a recurring wire transfer, follow these steps:²

Step 1. Send the first transfer by visiting your branch or contacting Member Services Support

Step 2. Request to set up a recurring wire number

Step 3. For future transfers, you can use this number to send transfers through Member Access

SECU international wire transfers typically can't be reversed or canceled once you send them.² So, make sure to double check all of the details before confirming the transfer.

What information do I need to make an international wire transfer?

SECU doesn't specify this on their website, but typically you need the following information to set up international wires:

• SECU account number
• Recipient's full name and address
• Recipient's bank name and address
• Recipient's account number or IBAN (International Bank Account Number)
• SWIFT/BIC code of the recipient's bank
• Amount you want to send and the currency
• Purpose of the transfer (sometimes required to comply with international wire transfer regulations)

Make sure to have all of the required information on hand to easily transfer funds.

Even small inaccuracies can lead to delays, so it's better to spend time double-checking than trying to find a lost transfer.

How long does an international wire transfer with SECU take?

SECU doesn't share exact timelines, but international wire transfers typically take between 1 to 5 business days to complete. Your transfer might take longer because of:

• Time zone differences between countries
• Bank holidays in either the sending or receiving country
• Additional security checks, especially for large amounts
• Intermediary banks processing times
• Initiating your transfer after the cut-off time

SECU transmits outgoing international wire transfers on the same business day if they're keyed or verified before 3:30 PM. If you initiate your transfer after 3:30 PM, SECU will process it on the next business day.²

Learn more about international wire transfer times and how to track your wire.

What is the wire transfer limit for SECU?

SECU doesn't specify a limit, but keep in mind that banks must report all outgoing wire transfers over 10,000 USD to the IRS. This reporting requirement is not specific to SECU. It’s a federal regulation to prevent money laundering and other financial crimes.

This doesn't mean that you can't send more than 10,000 USD. But if you need to wire a large amount of money abroad, you may need to submit extra documents to explain the purpose of your transfer.

SECU contact information

If you need to get in touch with SECU, there are a few options:³

• Phone: Contact Member Services Support 24/7 at 888-732-8562
• Online: Send a message through the Message Center or mobile app
• In person: Visit your local branch and talk to a representative

SECU international wire transfer FAQs

---

Do credit unions offer international wire transfers?

Not all credit unions offer international wire transfers, but SECU has this option for its members. You can send money to most countries worldwide, with the exceptions of sanctioned countries like Cuba, Iran, North Korea, Syria and the Crimea Region of Ukraine.²

Can SECU wire money?

Yes, SECU can process both international and domestic wire transfer requests. You need to visit your local branch or contact Member Services Support to initiate your transfer.²

What is the limit on a wire transfer?

It depends on the financial institution. There's no specified SECU wire transfer limit, but you should know that federal regulations require banks to report all international wire transfers over 10,000 USD. You can send more than 10,000 USD, but you may need to provide additional paperwork.

---

SECU international wire transfer is a reliable way to send money to another country. But it comes with a flat fee of 25 USD, exchange rate markups and additional costs from intermediary banks.

For high-speed, low-fee transfers, check out Wise. You can set everything up completely online, and there are no exchange rate markups.

🚀 Start saving on
international transfers

Sources

1. SECU
2. SECU - Wire transfer
3. SECU - Contact us

Sources checked 10.17.2024