We are excited to announce the introduction of wire transfers, providing our customers with a fast and secure way to electronically transfer funds between banks in real time. Utilizing the FedWire system, we ensure that your money is delivered within one business day. Here’s everything you need to know about our new wire transfer service.
What is a Wire Transfer?
A wire transfer is a method of transferring money from one bank account to another electronically. It is known for its speed and security, making it an ideal choice for urgent or significant transactions.
What a the Limits for Wire Transfers?
To ensure security and efficient processing, we have established the following limits for wire transfers:
- Daily Limit: $40,000
- Monthly Limit: $100,000
These limits are designed to provide flexibility while safeguarding your funds.
Fees for Wire Transfers
Our wire transfer service includes the following fees:
- Outgoing Wire Fee: $20.00 per transaction
- Incoming Wire Fee: $10 per transaction
Processing Time
Wire transfers are processed in real time, and thanks to the FedWire system, the funds are typically delivered within one business day. This ensures that your transactions are completed quickly and efficiently.
How to Initiate a Wire Transfer
Initiating a wire transfer is simple and can be done through your online banking account. Follow these steps:
Step 1. Click Send money in the Wallet tab and choose Domestic transfer (Wire)
Step 2. Choose the amount of transfer and click + to enter account details
Step 3. Enter account details and address and click Next
Step 4. Proceed with the Wire transfer, you will be asked to enter the Confirmation code
Our customer support team is available to assist you with any questions or issues you may encounter during this process.