How to avoid bank fees for wire transfers?
 

My bank is charging me 0.4% on wire transfers. Anyone in the U.S. not paying fees for transfers?

Re: How to avoid bank fees for wire transfers?
 

Schwab waives fees if you have a given balance in your account.

Re: How to avoid bank fees for wire transfers?
 

My banks typically charge a fixed fee ($20 to $50) on outgoing wires and accept incoming wires for free or maybe $20.

I haven't heard of a percentage-based fee, that's pretty bad. And it doesn't make much sense either, since the bank's cost to process the transaction doesn't vary much by the amount. For a larger amount they may need to phone you under "know your customer" rules, but that's about it.

-pyg

Re: How to avoid bank fees for wire transfers?
 

[ QUOTE ]
My banks typically charge a fixed fee ($20 to $50) on outgoing wires and accept incoming wires for free or maybe $20.

I haven't heard of a percentage-based fee, that's pretty bad. And it doesn't make much sense either, since the bank's cost to process the transaction doesn't vary much by the amount. For a larger amount they may need to phone you under "know your customer" rules, but that's about it.

-pyg

[/ QUOTE ]

yeah, they'd be stupid to set up a system where they make more money from wire transfers than charging a flat rate. dopes.