Before beginning the process of transferring money by wire, you should have the following information handy:
•How much money you wish to transfer. If transferring from a bank account, make sure that you have sufficient funds to cover the transaction, including any service costs. Fees for overdrawn accounts can be very steep!
•Name of who will receive the money you are sending.
•The bank account number of the party who is to receive the money.
•The routing number of the bank or financial institution that holds the account the money is being sent to. This is also referred to as the ABA (American Banking Association) routing number.
•The bank account number and routing number of the account you are sending the money from.
References
•How much money you wish to transfer. If transferring from a bank account, make sure that you have sufficient funds to cover the transaction, including any service costs. Fees for overdrawn accounts can be very steep!
•Name of who will receive the money you are sending.
•The bank account number of the party who is to receive the money.
•The routing number of the bank or financial institution that holds the account the money is being sent to. This is also referred to as the ABA (American Banking Association) routing number.
•The bank account number and routing number of the account you are sending the money from.
References
- ^ Regulation (EC) No. 2560/2001. European Parliament and the Council of the European Union
- ^ Regulation (EC) No 924/2009.
- ^ http://www.bankofamerica.com/deposits/checksave/index.cfm?template=lc_faq_wire#question4
- ^ Regulation J - Check Collection and Funds Transfer. BankersOnline.com
- ^ Section 4A of Universal Commercial Code. Legal Information Institute.
- ^ OFAC facts
- ^ "Correspondent Bank Fees". Openoffshorebankaccountsfornonresidents.com. http://www.openoffshorebankaccountsfornonresidents.com/Wire_transfer_correspondent_fees.htm. Retrieved 2010-07-01.
- ^ "Western Union Money Transfer Options". Westernunion.com. http://www.westernunion.com/info/osMoneyTransferOptions.asp. Retrieved 2010-07-01.
- ^ Can Western Union Keep On Delivering?. BusinessWeek
- ^ a b "Money Transfer South Africa". MoneyTransferSouthAfrica.org. http://www.moneytransfersouthafrica.org/starting-information/. Retrieved 2011-01-01.
- ^ "Currency Specialists". franceforex.com. http://www.franceforex.com/currency-specialists-%E2%80%93-rapidly-growing-participants-in-the-foreign-exchange-industry-fxcompared-com-%E2%80%93-%E2%80%98golden-pages%E2%80%99-of-the-industry/. Retrieved 2011-01-01.
- ^ http://www.swift.com/biconline/index.cfm?fuseaction=display_aboutbic
