You can transfer funds directly to any bank account! This is a quick, easy and secure way of managing your funds.
People who have a First South Credit Union account , will be able to use it to receive salaries and make payments all over the eurozone, for example when they need to transfer money to another Bank or make a transfer to someone else’s Bank Account anywhere in the EU. Your First South Credit Union Account is fully SEPA (Single European Payment Area) Compliant.
There are two types of EFT payments:
- Electronic Funds Transfer – Outbound (paying funds from your Credit Union account)
Members can transfer funds electronically to bank accounts anywhere and can also set up a standing order which is a regular payment e.g. pay a utility bill.
- Electronic Funds Transfer – Inbound (your wages, social welfare paid directly into your Credit Union account)
Each of our Credit Union accounts has a unique BIC and IBAN number. You must quote your Credit Union account BIC and IBAN number when paying funds into your account from an external source- banking online, wages, social welfare, pension payments etc.
Benefits to the Member
- Quick, easy, fast and secure
- No cost to the member
- No queuing
- No worries about remembering to pay at the right time (standing order)
NB You can pay any bill through your First South Credit Union Account at any time. To avail of this facility you must have first registered for the CU Online service.