4 ms·
People are probably tired of hearing this, but this is not a problem with wiring, it's a problem with US banks. When i bought my home in the UK six years ago,
by twic 5y ago
People are probably tired of hearing this, but this is not a problem with wiring, it's a problem with US banks.
When i bought my home in the UK six years ago, i phoned my bank, told them how much i wanted to send and to who, and they did it, with the money arriving straight away. If the amount had been less than 20k, i could have done it online rather than over the phone; the back-end payment machinery is the same, but i suppose the bank think there's less chance of a normal customer making a mistake with a large transfer if someone walks them through it. My bank is rather old-fashioned; more modern banks let you make large transfers online or through their app:
https://www.starlingbank.com/blog/high-value-payments/ https://www.starlingbank.com/blog/high-value-payments/
That page mentions that "one of our team members may need to double check a few details before the payment can be made" - again, that's nothing to do with the machinery, that's in case you match some pattern looking for fraud or money laundering etc.
- PragmaticPulp 5y ago> People are probably tired of hearing this, but this is not a problem with wiring, it's a problem with US banks. I have a US bank and I can send wires online. It's really not uncommon. I don't understand how or why the OP is banking with an outdated bank an hour away from his house when there are good options that can be accessed entirely online. There are a lot of behind-the-times banks in the US, though. If you're stuck in one, considering switching.
- DennisP 5y agoMy credit union can do wires online too, but only up to a certain limit, which wasn't high enough when I bought my house.
- robryan 5y agoBanking in Australia with ING I could simply call them up and have the limit raised for a one time payment such as a house deposit which can then be completed online.
- Kinrany 5y agoThis sounds worse than using a website: incredibly easy to steal money from the bank by faking voice and phone number.
- twic 5y agoYou have to punch in your pin number and answer a security question before you can talk to anyone. As is standard for phone banking.