3 ms·
Wire transfers have borderline predatory fees unless you're moving thousands of dollars, and there's still the issue of "oh you entered one of the numbers incor
by pc86 5y ago
Wire transfers have borderline predatory fees unless you're moving thousands of dollars, and there's still the issue of "oh you entered one of the numbers incorrectly, hopefully they give you your money back!"
- vorpalhex 5y agoTry shopping banks. My wires are free in most cases and I am not a big customer or anything.
- Xylakant 5y agoThis is a distinctively US feature. SEPA transfers cost (next to) nothing, and the IBAN has a checksum, so entering a single digit wrong will get the transaction rejected.
- maccolgan 5y agoIt's not a US feature, the US has ACH.
- ratg13 5y agoI wonder how Wise (formerly TransferWise) accomplishes this. They seem to be able to send money to bank accounts anywhere for extremely reasonable prices.
- Scoundreller 5y agoThey have bank accounts everywhere. They just avoid transferring money between them in the first place. As long as an even amount of money is going in each direction, they won’t have to. Only if flow gets too out of whack but that means their rates are too one-sided. That’s the forex business in a nutshell. They don’t convert money, they just exchange it.