Foreign accounts and other services

Foreign Currency Accounts - Whether you conduct business in Europe or the United States, or travel there for pleasure, we have the right account for you. We offer personal and business euro or U.S. dollar accounts, so you can deposit and withdraw currency as you need to. Please contact us to hear more about these options. We're here to help.

Foreign Exchange - Whether across Canada or across borders, we'll make transferring funds convenient and secure. We offer a variety of options, including wire transfers. Please contact your home branch for current foreign currency buy/sell rates.

Click here to view a summary of our account services and related fees.

Special note

Changes came into effect on January 1, 2015, affecting how Central1, the clearinghouse for all credit unions in British Columbia and Ontario, settles euros. While the process for sending euros has not changed, how we receive euros on your behalf has. For your convenience, we offer two options, depending upon how frequently you receive this currency.

Wire transfersThere is a distinct advantage to receiving euros by wire transfer. The turnaround time for processing wire transfers is generally shorter. In fact, transfers can be processed with the negotiating (foreign) bank within about five business days.

On collectionIf you receive euro cheques, drafts or money orders less frequently, this might be the better option. You should, however, consider the following: first, the handling and service charges for the drawee's financial institution may be substantial and even exceed the face value of the cheque, draft or money order. And since the process is manual, collection can take up to 45 business days.

 

 

 

 

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