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> International bank transactions take days or weeks and have very high fees. Not really. I mean, I'm sure they can if you're moving millions, but small trans
by Mikeb85 12y ago
> International bank transactions take days or weeks and have very high fees.
Not really. I mean, I'm sure they can if you're moving millions, but small transactions are pretty much instant, even internationally, at least between modern banks in 2 countries. And the fees (if there even are any) are negligible.
Anyhow, that's my experience with my bank. I do know that American banks can be behind the times a bit...
- evbots 12y agoACH bank transfers in the united states take on average 2-3 days to clear. Instant may mean the funds are available at your bank, but the clearing process may not be complete.
- cporios 12y agoI live in Europe and a wire transfer from/to Greece/UK/Germany takes at least two working days for small amounts, sometimes up to a week. All my friends have similar experiences. Only transferring money between two bank accounts of the same bank is indeed instant. Fees are not negligible at all: Sending 200 pounds from the UK to US costs an average of 20 pounds or 10% according to https://transferwise.com/transfer-money-to-the-usa https://transferwise.com/transfer-money-to-the-usa.