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
Float, The longer the entities hold the transfer the more vig they make on your funds.
Speaking of “float” did you know that Starbucks holds 1.7 Billion in other peoples money in their app like a massive unregulated bank? And they owe no one anything but about 50 cents worth of coffee each time you use it. [https://www.youtube.com/watch?v=Ym7YwFq8ZuM](https://www.youtube.com/watch?v=Ym7YwFq8ZuM)
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