A wire transfer is a type of electronic payment service for transferring funds between financial institutions by wire through the Federal Reserve Wire Network. Wire transfers involve a sending and receiving institution and require information from the party initiating the transfer, such as the receiver’s name and account number. Wire transfers don’t involve the physical exchange of cash but are settled electronically.

A wire transfer is considered an electronic funds transfer (EFT), which is one of the most common methods for sending money.

Wire Transfers
  • International Bank Account Numbers are required on all international wire transfers to European countries
  • Outgoing Wire Transfers
  • Electronic transfer of funds
  • Most financial institutions will post a wire transfer the following business day
  • Low fee when sending funds. $20 for domestic wires
  • Dictate wire transfer over the phone with a pin number
  • A service that allows members to transfer funds between Firstmark Credit Union and an account at another financial institution

Receiving a Domestic or International Wire Transfer:

  • Receiving Bank: Firstmark Credit Union
  • ABA/Routing Number: 314088556
  • Address: 2023 Gold Canyon, San Antonio TX 78232
  • Beneficiary account number: Member’s name as it appears on FMCU Account
  • Account Number: Member’s 13-digit account number
  • Incoming fee: $0, though the sending financial institution may charge to initiate transfer
  • Expected wire: Same day processing, if received prior to 5:00 pm CT

Sending a Domestic Wire Transfer

  • To send a wire, you will need: name, address, and account number of your recipient, name of recipient bank, routing number.
  • For security reasons we may attempt to call you to verify your wire instructions.
  • Requests received and verified before 4 pm CT on a business day will process the same day.
  • Requests received and verified on Saturday and Sunday, a holiday, or any time after 4 p.m. Monday-Friday, will be processed the next business day.
  • Domestic wire transfer fee is $20

Domestic Wire Agreement


A wire transfer generally cannot be canceled, so make sure you know the person you are sending money to.

  • Real Estate Wire Scams occur when a person who is buying or refinancing a home wires money to a scammer’s account based on false wiring instructions received in a fraudulent email. To avoid this scam: Confirm wiring instructions with your lender.
  • Purchase Scams occur when you are purchasing products or services online from an unknown source. To avoid this scam: Know the person/company you are purchasing from and use a credit card to pay for items online.
  • Romance Scams occur when you meet someone typically online and begin a relationship. Your online interest begins to ask for money or help with costs and with promises of coming to see you. To avoid this scam: Only send a wire to someone you know or an established business you have a relationship with.
  • Business or Investment Scams occur when you are approached with a lucrative investment or business opportunity. You will be directed to act quickly in the promises of receiving a larger amount in return. To avoid this scam: Do your research and only conduct business with legitimate businesses

If you are a victim of a wire transfer or an online payment scam, there is no guarantee that you can get your money back. Report it to your financial institution immediately. You can also report the scam to the Federal Trade Commission (FTC) at www.ReportFraud.ftc.gov or visit www.consumer.ftc.gov to find more tips and learn how to avoid scams.