Helpful Tools

Wire Transfer FAQs

Q: How will I know when my wire transfer has been received?

A: There are three different ways you can confirm that your wire transfer has been received and posted:

1) You may contact us at 847.ASK.CCCU (877.275.2228)

2) You can use our Online Banking feature on this website

3) Call our Audio Service at 847.249.4569.

 

Q: Where are the funds from a wire transfer posted?

A: Unless specified, we post incoming wire transfers to your Rewards Checking account. If you would like your funds posted to savings, money market, or applied to a loan, please specify that in your wire transfer request special instructions section.

Q: Do I have to have an account at CCU to receive bank to bank wire transfers?

A: Yes, our services are for our members. Joining is easy.

Q: What if the institution sending the wire transfer has questions?

A: The institution can contact the Accounting Department at 877.ASK.CCCU (877.275.2228) ext. 8515.

Q: What is the cost to receive a bank to bank wire transfer?

A: There is a $10.00 fee for all incoming wire transfers. 

Q: What do I need to send a wire transfer to Consumers Credit Union (CCU)?

A: Your wire transfer request must be made with the institution sending the funds. You will need to give them these instructions:

Routing number: 271989950

Consumers Cooperative Credit Union, Waukegan, IL

Final Credit: Your name and account number at CCU


Q: Do I have to have an account at CCU to send bank to bank wire transfers?

A: Yes, our services are for our members. Joining is easy.

FAQ's for Incoming Bank to Bank wire transfers

 

Q: When can I send a wire transfer?

A: Wire transfers can be sent:

Monday through Friday from 9 am to 4:30 pm for domestic wires.

 

Q: What information do I need to send a wire transfer?

A: It is strongly recommended either you or your receiver contact the financial institution for their wiring instructions. Generally you will need:

  • the name of your receiver,
  • the address of your receiver,
  • the account number of your receiver,
  • the name of their financial institution,
  • the routing number of the financial institution,
  • the city and state of the financial institution, and
  • any special instructions.

Q: Where do I go to send a wire transfer?

A: Simply visit one of our Service Centers or contact us at 847.ASK.CCCU (877.275.2228) 

Q: Can I do a wire transfer over the phone or do I need to come in to CCU in person?

A: As long as you are both the sender and receiver of the wire transfer, we can take your request over the phone. If the wire transfer is going to a third party, you need to come into one of our offices to sign the wire request form. If you will be sending money to the same receiver often, we can assign you a password. Once we have a completed form with your signature on file, all you need to do is call the Accounting Department with your password and the dollar amount of the wire transfer.

Q: How much is my receiver charged when picking up the funds?

A: Your receiver would need to check with their financial institution to see if they will be charged a fee for receiving a wire transfer. Consumers Credit Union does not charge a fee to receive wire transfers.

Q: How long does it take to receive funds from a wire transfer?

A: Wire transfers to US institutions usually take about half of a business day to be received. Normally if they are sent in the morning they are received that afternoon.

Q: What does it cost to send a bank-to-bank wire transfer?

A: Please see our Schedule of Fees & Charges for the amounts. These fees are subject to change without notice.

Q: Where can bank-to-bank wire transfers be sent?

A: Bank-to-Bank wire transfers can be sent to just about any financial institution in the United States. Please note, CCU is not able to do international wires.

Q: What are bank-to-bank wire transfers?

A: Wire transfers are a safe, reliable way to transfer funds from an account at one financial institution to an account at a different institution. Bank-to-bank wire transfers travel through the Federal Reserve System.