Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [wire-transfer]

a mechanism to electronically transfer funds from one account to another account. Generally used to cross-border transfer, i.e. moving money between accounts located in 2 different countries.

a mechanism to electronically transfer funds from one account to another account. Generally used to cross-border transfer, i.e. moving money between accounts located in 2 different countries.

202 questions
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Why is a transfer from an account to another not done instantly when it's not the same bank?

I own accounts at two different Romanian banks. When I transfer money to another account at the same bank, the money is transferred immediately. However, when I transfer money to an account at a different bank, the transfer is processed the next…
Adelin
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A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate?

I have a friend since July online and Exxon owe him for a balance on a 2014 contract off the shores of Liverpool. He is presently in the Gulf of Mexico completing a contract that last for one year. During that year he cannot get off the boat there…
Theresa Smith
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Wired to the wrong account

Recently, I sold my house that I've been living in for over 20 years. It was almost all paid off, so I got a huge amount of cash in my account. (About 5x my yearly salary). I bought a new house, and intended to wire all of these proceeds over to…
Jeffer
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How can I avoid international wire fees or currency transfer fees?

I'm paid by an American company, but travel to France frequently and need to have a French bank account for various reasons. So far the cheapest procedure I've found to transfer money is withdraw euros from an ATM with my American card, walk to…
Shep
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Why are wire transfers not reversible by the bank?

ACH payments and credit card payments are both forms of electronic payments. Because of this, reversing a payment is usually as straight forward as calling your bank. However, this does not seem to be the case with wire transfers. At the end of the…
AlanSTACK
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Why are wire transfers and other financial services in Canada so much more expensive than in Europe?

Why are wire transfers in Canada so expensive compared to Europe? The simple answer I've seen is because bankers are crooks, but I find that this oversimplifies the situation — I don't believe bankers in Europe are particularly nicer than their…
gerrit
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What Canadian account number format do European banks need for wire transfer instructions?

I am trying to transfer funds from my account in Europe to my account in Canada. On the sending (European) bank's transfer instruction form there is a field I need to fill-in in the beneficiary's section called "Account no./IBAN". Canadian banks…
alx9r
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How do wire transfers get settled?

Say I open accounts at Bank A and Bank B. I deposit $20 in Bank A. I then initiate a wire transfer to my account in Bank B. I drive over to Bank B and withdraw $20. Bank A now has $20 extra physical cash and Bank B now has $20 less. When and how…
lurf jurv
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Why do escrow services use wire transfer?

Escrow services seem to typically require earnest money funds to be deposited via wire transfer. These days the wire transfer instructions will be surrounded by 50-point bold red text warning you that wire fraud is on the rise and you must be extra…
user45623
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An online casino owes me money and wants to pay with a wire transfer. Is this safe?

I have won a large amount of money on an online casino. It has taken 2 months for me to see any payouts. Last week I received a $2300 check from them. Now they say that since I won so much they would rather wire me the money, and they are asking…
user49188
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What's the difference between wire transfer and ACH?

My sponsors have two ways to transfer money. I wonder what's the difference?
user4951
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If an international bank has branches in two countries, can I bank transfer between them?

I currently use wire transfers to move money from the US to the country in Europe that I live in now. The problem with this is that it's a hassle (I have to call the bank, verify I give the correct numbers, and there's a fee). If a bank that's say,…
Ken - Enough about Monica
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Is it possible to send money to my friend in the US using a wire transfer?

Me and my friend are both Europeans and used to sending money to other people by just asking for their bank account number. We were sitting around recently and were wondering - is it possible to send each other money by only using the US bank…
JonathanReez
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Should I pay rent electronically?

I'm renting an apartment from an individual. The landlord and I discussed the possibility of paying rent electronically. My bank (BofA) has some kind of electronic payment option where I'd enter the payee's account number and use that instead of…
MWB
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How can I accurately anticipate wire transfer fees from intermediary banks?

When sending an international wire transfer, the transmitting and receiving financial institutions both (usually) assess fees associated with the transfer. These fees can be accurately anticipated by clearly asking the banks, providing examples of…
WBT
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