do most banks charge a $30 wire transfer fee?
- Thread starter The motor guy
- Start date
- Status
Originally Posted By: motor_oil_madman
So what about transferring money from an account at one bank to an account at another?
Or how about doing an online transfer from my bank account to my online credit card account so I can pay my credit card bill today?
What's the difference?
You can set up an online transfer from one account to another.
To pay your cc bill today, log in @ the cc website and go to payments, you should have an option to pay from a checking account...you may have to set it up.
So what about transferring money from an account at one bank to an account at another?
Or how about doing an online transfer from my bank account to my online credit card account so I can pay my credit card bill today?
What's the difference?
You can set up an online transfer from one account to another.
To pay your cc bill today, log in @ the cc website and go to payments, you should have an option to pay from a checking account...you may have to set it up.
- Joined
- Nov 29, 2009
- Messages
- 10,258
Originally Posted By: Kuato
Originally Posted By: motor_oil_madman
So what about transferring money from an account at one bank to an account at another?
Or how about doing an online transfer from my bank account to my online credit card account so I can pay my credit card bill today?
What's the difference?
You can set up an online transfer from one account to another.
To pay your cc bill today, log in @ the cc website and go to payments, you should have an option to pay from a checking account...you may have to set it up.
I do have an online account for my credit card. I thought paying online was the same as wire transfer. Guess not
Originally Posted By: motor_oil_madman
So what about transferring money from an account at one bank to an account at another?
Or how about doing an online transfer from my bank account to my online credit card account so I can pay my credit card bill today?
What's the difference?
You can set up an online transfer from one account to another.
To pay your cc bill today, log in @ the cc website and go to payments, you should have an option to pay from a checking account...you may have to set it up.
I do have an online account for my credit card. I thought paying online was the same as wire transfer. Guess not
Originally Posted By: danez_yoda
A wire transfer is different from a bill pay. Wire transfer is a old school way of transferring money electronically, it uses fax machines etc and the banks don't want to deal with it. I HAD to do one recently for a mortgage refinance and it was a PITA with all the faxing back and forth.
Many banks have automatic bill pay for free to deal with credit card, utilities, etc.
You could also have the credit card "pull" from the bank. that is free as well. Just make sure you have the money waiting so you don't overdraft and get fees from both sides.
Wrong, everything is fully electronic/automated. However, connecting to the Federal Reserve is not cheap and neither is the software system necessary to process wire transfers. Most folks have no idea how much technology the average bank uses...nor that is comes at a cost.
A wire transfer is different from a bill pay. Wire transfer is a old school way of transferring money electronically, it uses fax machines etc and the banks don't want to deal with it. I HAD to do one recently for a mortgage refinance and it was a PITA with all the faxing back and forth.
Many banks have automatic bill pay for free to deal with credit card, utilities, etc.
You could also have the credit card "pull" from the bank. that is free as well. Just make sure you have the money waiting so you don't overdraft and get fees from both sides.
Wrong, everything is fully electronic/automated. However, connecting to the Federal Reserve is not cheap and neither is the software system necessary to process wire transfers. Most folks have no idea how much technology the average bank uses...nor that is comes at a cost.
If your bank charges you to pay bills online via a debit card - find another bank!
$30 for wire is about right unless you have one of those premium account that you constantly have $100k in cash as deposit. If you do not need the speed of wire transfer (i.e. not paying for something that charge you daily interest like a mortgage payoff or home purchase transaction) you can do ACH or send a paper check.
It sucks, but that's life when you do big transaction.
It sucks, but that's life when you do big transaction.
- Joined
- Dec 30, 2006
- Messages
- 29,558
BBVA charges me $15.
- Status
