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FX Wires

Many credit unions members wire funds to individuals in other countries. Sending an international foreign exchange (FX) wire through Catalyst Corporate often offers advantages over an international U.S. dollar (USD) wire.

International FX wires are distributed in the foreign currency where the beneficiary account resides. FX wires are recommended when the beneficiary’s account is not a USD account and when the originator wants to know how much foreign currency will be received.

Advantages can include:

  • Lower fees
  • More favorable exchange rates
  • Closer estimate of receipt amount because exchange rate is set upfront
  • Lower risk of inflated invoices by international suppliers
  • Faster receipt of payment for beneficiary
  • Competitive advantage for credit union as a result of fewer conversion obstacles

International FX wires are available through Catalyst Corporate in approximately 120 foreign currencies. See the FX Foreign Currencies list here.


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