Latest scam shows wire transfers are still an easy target for fraudsters
Nov 11, 2019 - The latest in an investigation from CBC News proves once again the uncertainty, and fragility, of wire transfers. Long-time client of Cidel Bank Canada, Rod McLeod is now suing his bank for gross negligence and the return of more than $800,000 after his money was wired to a fraudulent account despite red flags being raised. […]
Why Bank of America Charges More than Most Banks for International Wire Transfers
Nov 11, 2019 - As small businesses active in import and export know very well, global business requires global payments. Most banks, including Bank of America have recognized this necessity and offer international wire transfers to their business clients. But, like everything else in life, this service comes with a price tag. Since customers usually accept that international wire […]
Checks or wire transfers: which is better?
Sep 9, 2019 - Pros and cons of checks offline vs wire transfers to send money online When it comes to making payments, a lot has changed over the past few decades. We’re replacing paper and trips to the bank with the internet, innovative technologies, and self-service. We can pay for groceries with the digital wallet on our smartphone, […]
Are Wire Transfers Safe?
Apr 4, 2019 - For a lot of people, the operation of banks is shrouded in mystery. Wire transfers have been around for decades, but there is very little transparency into how they work, and what happens to your money once it leaves your bank account.
International Wire Transfer Fees
May 5, 2018 - Have you ever needed to send money to another country? If you have, you probably had a ton of questions. How fast will it arrive? How safe is the transaction? More often than not, the most important question involves fees: how much is it going to cost me? No person or company ever wanted to […]
Why Does Chase Charge So Much for a Wire Transfer?
Apr 4, 2018 - Transfers are a core banking service. Whether it’s paying back a friend, or buying goods from a vendor in China, today’s bank clients need to be able to send money efficiently, safely, and at low cost. Especially in the world of Venmo and other online services, banks need stay competitive with the next generation. If […]
Wire Transfer Bank of America
Mar 3, 2018 - Bank of America Wire Transfers 101 Technology is typically invented to solve problems and simplify our lives. While this is an oversimplification, it’s also the truth. We’re now capable of owning pocket-sized supercomputers, automobiles that can sustain hundreds of miles of travel in a day, robots that respond to nothing but our voices, appliances that […]
How Fast is an International Wire Transfer Processed?
Dec 12, 2017 - In how many films have wire transfers been an integral plot device? Usually it’s someone that needs money immediately and their only other option is to grab it in cash. This is because wire transfers, at least historically, have been portrayed as a secure, dependable, and speedy way to migrate funds from one account to […]