Funds Transfer Services
Southeast Corporate employs a full-service, robust mix of products to meet all your credit union's funds transfer needs. Whether you are moving funds to Southeast Corporate for your credit union's investment, settlement or loan account, or redirecting funds to another financial institution, making account deposits and withdrawals are vital to your daily operation. Rely on Southeast Corporate and you won't be burdened by the expense of maintaining an account with the Federal Reserve Bank and you'll benefit from our expertise in all areas of Funds Transfer.
Wire Transfers
Electronic wire transfers quickly move money between your Southeast Corporate account and other financial institutions. All incoming wires received will be posted to your Transaction Account the day they are received. Southeast Corporate also provides outgoing wire transfer service to its members and associate members at a very reasonable cost.
International Wire Transfers
Southeast Corporate's international wire product is called eProducts Platform (EPD). This program can potentially lower your overall wire costs as well as save your employees' time. EPD offers a robust international wire platform with features that include:
- Automatic OFAC checking
- Ability to create your own recurring templates
- Immediate exchange rates for foreign currency wires
- Extensive database of foreign banks and identifiers
- Dual control functionality at the credit union level
- Extensive reporting options
While our EPD system does perform OFAC screening it is each credit union's responsibility to review the screening and approve the wire before processing is completed by the corporate.
Credit Union to Credit Union Transfers
Credit union transfers are available for credit unions transferring funds to another member of Southeast Corporate. These internal transfers are an efficient method for transferring funds between member and associate member accounts and are available at a lower cost than a traditional wire.
Western Union Transfers
Faster than overnight mail and more convenient than a bank wire, the Western Union Quick Cash service is an ideal way for credit unions to transfer funds in a quick and reliable manner. The Western Union Quick Cash service offers your members a way to receive funds to cover unexpected expenses such as vehicle repairs, medical emergencies, travel and/or lodging. If your credit union is authorized to initiate outgoing wire transfers, you are also already authorized to send Western Union transfers.
CNCC/ADT
The Corporate Network Cash Concentration (CNCC) and Automated Debit Transfer (ADT) programs provide your credit union with a means of transferring funds that is faster than mailing a check and less expensive than requesting a wire. To participate, your credit union simply calls a toll-free telephone number to request a transfer. The funds are transferred into or out of your Southeast Corporate account the next business morning. The CNCC and ADT programs offer a convenient overnight method for transferring funds, as requests can be made after normal hours and even on weekends.
APEX-ACH
APEX-ACH is Southeast Corporate's Automated Clearinghouse product, providing credit unions with cutting edge technology in ACH origination and receipt. Read more about APEX/ACH here.
The services offered through Southeast Corporate for funds transfer are easy to get started and can be quickly deployed. For more information regarding funds transfer services, please contact a Member Relationship Manager or submit a request for more information here.
