Financial services
International Services
VolCorp empowers its members with a full suite of international payments services that allow their customers to stay connected, no matter where life takes them.
Benefits
Convenient ACH and wire transfers through our online platform
Processing available in approximately 100 countries
Automated OFAC checks
Competitive exchange rates
International Fund Transfers
International funds transfers can be requested by phone or sent through ezfunds, our secure online platform that lowers costs and saves valuable employee time.
Foreign Currency International Wires
We offer wires that are converted to a different currency prior to being sent to a foreign financial institution. The sender is able to specify the amount in U.S. dollars sent, or the amount of foreign currency required. International wires sent in a foreign currency are almost always preferable, unless the foreign beneficiary has a U.S. dollar account. Sending foreign currency enables the sender to lock in an exchange rate, and often reduces fees charged by foreign banks.
U.S. Dollar International Wires
U.S. dollars are sent to a foreign account without being converted to a different form of currency. This type of wire is ideal for a foreign beneficiary with a U.S. dollar account, or if the local currency is not supported in our system.
FedGlobal International ACH Transfers
VolCorp offers access to the FedGlobal system through the online ezfunds platform. FedGlobal transactions enable low-cost, cross-border payments. VolCorp’s FedGlobal service allows credit unions to quickly send ACH transactions to over 30 countries worldwide. FedGlobal transactions are often faster and can significantly reduce the cost of foreign funds transfers.
Foreign Item Processing
VolCorp’s foreign item processing service allows credit unions to accept checks drawn on financial institutions from hundreds of countries across the globe.
International Cash Letters
VolCorp members usually use this method to collect on lower value international deposit items. Because foreign countries are not bound by U.S. check return guidelines, provisional next-day credit is given.
International Collection Items
This method is used to collect items issued in U.S. or foreign funds drawn on a foreign institution and must be valued at or above $200 U.S. dollars. Although these funds are guaranteed, they are not credited immediately.
For a side-by-side comparison of foreign item deposit processing options, click here.
Become a Partner
For more information about our international services, contact us! One of our representatives will get back to you shortly.
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