I’m a foreigner but work for a US company. The company gave me some stock (on E*trade) which I sold, so there is some money, and I’d like to wire the money to another account, which is also in US (firstrade)
The wire took several days and charge me 25 US dollars. In my country, wire transfer between different banks is near instant and charge less than 1 US dollars.
So my question is, is it how wire transfer normally works in the USA? Or perhaps it’s because I’m a foreigner? If it’s normal, what’s the difference between US bank and other countries’?
In: Economics
It’s frustrating to hear that wire transfers are slow and expensive in the USA. I wonder if it has to do with the regulations and fees for banks in the US compared to other countries.
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