International Money Transfers – How it works?

International Money Transfers – How it works?

How it works?

1. Activate the international money transfer feature

You must go to your caisse populaire to add a money transfer limit to your account.

2. Create your list of recipients

Log on to AccèsD, then click:

  • Transfers in the right-hand menu
  • International money transfers
  • the Manage list of recipients tab

Have the following information on hand:

  • address of the recipient you want to add
  • bank routing information for the recipient’s financial institution
  • address of the branch to which you want to send the funds
  • You will be able to make a transfer to your recipient’s account 48 hours after adding them to your list.

3. Make a transfer

Simply select the recipient from the list of recipients you have already added and select the type of transfer based on the destination country.

Information required for international money transfers

To make an international money transfer to a financial institution in the U.S., Europe or Mexico, you’ll be required to provide some banking information. Following is the information that may be requested by each country.

U.S.

 
ABA routing number for direct deposits 9-digit number for ACH (Automated Clearing House) transfers. Note: Some banks use this number for both direct deposits and money transfers.
ABA routing number for money transfers 9-digit number. Note: Banks usually have a different routing number for direct deposits and transfers. In some cases, however, the numbers may be one and the same.

European Union countries and other countries

 
IBAN no. The number of characters in each IBAN number varies from one country to another. However, it never exceeds 34 characters. Here are 2 examples :
France : FR14 2004 1010 0505 0001 3 M02 606
Belgium : BE62 5100 0754 7061IBAN is currently used in the 27 European Union countries as well as Andorra, Croatia, Gibraltar, Greenland, the Faeroe Islands, Iceland, Turkey, Liechtenstein, Macedonia, Monaco, Norway, Romania, San Marino, Serbia-Montenegro, Switzerland and Tunisia as well as the French Overseas Departments Guadeloupe, French Guyana, Martinique et Réunion Island.

The number often appears on bank statements and invoices of companies and individuals residing in participating countries. Enter the IBAN number under International money transfers – Manage list of recipients.

Mexico

 
CLABE 18-digit number. The first 3 digits identify the bank, the next 3 digits identify the branch and the last 11 digits indicate the account number plus check digit. Enter the CLABE under International money transfers – Manage list of recipients.