Bank Wire
Almost every bank i ve ever heard of charges a hefty fee 20 50 per wire you execute whether sending or receiving.
Bank wire. Wire transfer bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another. The bank or credit union takes the money out of the customer s account at the time the check is printed. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost.
It s generally used for very large transactions like the purchase of a house. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office. Unlike some electronic payments bank wires cost money anywhere from 15 to 50 per transfer.
If you need funds to clear quickly cashier s checks are considered to be as secure as bank wires and cost less than wire transfers. A wire transfer is a transfer of funds done electronically across a network of banks or transfer agencies around the world. The fee depends on the bank whether the wire is outgoing or incoming or domestic or international and the transfer amount.
Bank wire is strangely also an ancient technology but transfers the money within minutes.