Sending a Wire Transfer? Here's How to Do It Safely.
- 1 day ago
- 2 min read
Wire transfers are a convenient way to send money quickly and securely. They are commonly used for large or time-sensitive transactions, such as purchasing a home, moving money between financial institutions, sending business payments, funding investments, or helping family members with major expenses.
Protect Yourself from Wire Transfer Scams
Wire transfers are convenient, but once a wire has been sent, it can be extremely difficult, and sometimes impossible, to recover the funds if they are sent to the wrong place. That's why it's important to be cautious before sending or receiving any wire.
🚩 Watch for these common scams:
Unexpected payment requests
If someone suddenly asks you to send money by wire, especially if they pressure you to act immediately, pause and verify the request independently.
Last-minute changes to wiring instructions
Scammers frequently hack email accounts and send "updated" wire instructions. Never rely solely on an email with new wiring information.
Urgent deadlines or pressure
Fraudsters often create a false sense of urgency by claiming you'll lose a deal, miss a deadline, or owe penalties unless you wire money immediately.
Requests to keep the transaction secret
A legitimate business or financial institution will never ask you to hide a wire transfer from your family, attorney, or financial institution.
How to Stay Safe
Before sending a wire:
Verify wiring instructions by calling the recipient using a trusted phone number, not one included in the email.
Be cautious of emails containing new or revised wiring instructions.
Double-check account numbers and routing information before sending funds.
If anything feels unusual, stop and verify before proceeding.
We're Here to Help
If you're expecting a wire transfer, have questions about our wiring instructions, or receive suspicious requests involving a wire transfer, contact EFCU before taking action. We'd much rather answer a question today than help investigate a fraud tomorrow.
Your financial security is one of our highest priorities, and we're always here to help you protect your money.
How to Wire Money to Your EFCU Account
EFCU receives incoming wire transfers through our corporate credit union, Alloya Corporate Credit Union. Because of this, there are three pieces of information required to ensure your wire is routed correctly to your account.
For complete instructions, including all required wiring information, please download our Wire Transfer Instructions here:
Providing all three pieces of information exactly as shown will help prevent delays or rejected wire transfers.
If you're expecting an incoming wire and have any questions about our wiring instructions or whether a request is legitimate, we're here to help. Contact EFCU before sending or accepting a wire if something doesn't seem right. A quick phone call can help protect your money and give you peace of mind.
We're committed to helping our members complete wire transfers safely, accurately, and with confidence.
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