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
Every major brokerage, including ETrade, will ACH money into your US-based bank account for free. I’ve never heard of a bank charging to receive an ACH either. You paid extra for a wire transfer to theoretically get your money slightly faster.
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