For USA Developer, which bank that give free wire transfer?

[john3478]

Just in case if any one know, which bank give free wire transfer without requiring huge amount of money in bank. Citibank can give free wire transfer but it needs a total of bank amount at least $100,000.

thanks

[panzeriti]

I am with BofA... I am pretty sure they charge, but not sure how mcuh. Can anyone confirm this for me?

[jtara]

I really don't think you are going to find anybody who is going to give you free international wire transfers.

You will find free domestic, but that's moot, since they use ACH for domestic, and nobody charges for ACH.

[john3478]

just found from fatwallet
International Wire Transfer - Fees and Forex rates
(this from 2008 data, so WaMu still exist.
----- here is the direct quote from above forum --------
Bank of America = $45 fee for outgoing international wire
Banner Bank = $10 incoming wires, $18 outgoing international wires, $30 domestic (in OR and WA).
Etrade = no fee associated with receiving wires = $0. (Seems like intermediary bank charges $15)
Fidelity = no fee associated with receiving wires = $0.
HSBC = fee of $15.00 for an incoming wire transfer.
ShoreBank = fee to receive the wire is $5.
Wachovia = fee ranging from $15.00 to $50.00 for each international incoming wire transfer.
Washington Mutual = Free outgoing domestic and international wires only if the receiving account holds US Dollars. ~4.5% "hidden" charge is built into their exchange rates.
Washington Mutual = $10 Incoming. Unknown fee from Wells Fargo (-intermediary bank).

[jtara]

I think you will find most brokerage accounts will allow free incoming wires, domestic or international, and they even have their own, dedicated SWIFT codes - but there is a catch - you need to give them separate advice that the wire is coming, and they won't accept third-party wires (has to be from another one of YOUR accounts, at a bank or another broker).

I know this is the policy for Interactive Brokers. You need to fill-out a form on their website when you wire them money.

[john3478]

Originally Posted by jtara

I think you will find most brokerage accounts will allow free incoming wires, domestic or international, and they even have their own, dedicated SWIFT codes - but there is a catch - you need to give them separate advice that the wire is coming, and they won't accept third-party wires (has to be from another one of YOUR accounts, at a bank or another broker).

I know this is the policy for Interactive Brokers. You need to fill-out a form on their website when you wire them money.

Excellent info. I just know about this "catch".

[ethanwa]

An HSBC Business account will give you 5 free wire transfers in per month. Best deal I have found and when I switch it will save me $600/year because Chase charges me $10 per Wire.