Many people do not realize that some banks do offer free outgoing international and domestic wire transfers to their customers. Even using the SWIFT code for the destination bank/account, an intermediary may still be used.
You must also understand that although the wire transfer may be fee free, there may be a processing free. Also, the fee free option when sending money internationally may use a low exchange rate, so you need to determine if using the fee free option is better than using a higher exchange rate option, which will depend on the rates and the amount for which you are sending.
Below is a list of banks which offer fee free international or domestic wire transfers:
- HSBC – Business Direct Checking
10 Free pe mo - Open a Schwab Investors credit card and a SchwabOne account with no minimum balance requirement, and the fees for wire transfer are waived.
- Washington Mutual Accounts – These are only for existing WaMu accounts that were taken over by Chase. You should be able to send internationally with only a small charge from an intermediary.
- XeTrade is also another good method for sending money by wire transfer or a variety of other ways, though it is not a free option
Know of a bank offering free outgoing wire transfers? Post them up!
Related posts:
Add your Comments