GREENSBORO, N.C.–Vizo Financial and its payments CUSO, MY CU Services, have announced the launch of Third-Party Wires service, which the company said gives credit unions the ability to process wire transfers through their Federal Reserve account using an online EFT platform.
“We’re excited to launch this service and offer it to all credit unions, even those who aren’t members of Vizo Financial,” Rodney May, Vizo Financial’s SVP/chief engagement officer, said in a statement. “We’re confident that this wires solution will be beneficial to credit unions because it allows them to utilize an online application to submit their wire transfers through their Federal Reserve account, which is more convenient and less time-consuming for the credit union.”
How Service Works
According to Vizo Financial, the new service works by allowing credit unions to sign in to MY CU Services’ online EFT platform to initiate a wire transfer by entering in key information, including the credit union’s routing and transit (R&T) number. This will allow the funds to be debited from the credit union’s account with the Federal Reserve, Vizo Financial said.
“Our goal is and always has been to be a partner to credit unions and help them be successful, and we believe this new service will help us continue to do just that,” May added in a statement.
For info: Vizo Financial