John Egan is a veteran personal finance writer whose work has been published by outlets such as Bankrate, Experian, Newsweek Vault and Investopedia.
John Egan Personal Finance ExpertJohn Egan is a veteran personal finance writer whose work has been published by outlets such as Bankrate, Experian, Newsweek Vault and Investopedia.
Written By John Egan Personal Finance ExpertJohn Egan is a veteran personal finance writer whose work has been published by outlets such as Bankrate, Experian, Newsweek Vault and Investopedia.
John Egan Personal Finance ExpertJohn Egan is a veteran personal finance writer whose work has been published by outlets such as Bankrate, Experian, Newsweek Vault and Investopedia.
Personal Finance Expert Doug Whiteman Personal Finance EditorDoug Whiteman is an award-winning journalist with three decades of experience covering personal finance, starting when he was the Washington, D.C.-based consumer news editor and reporter for Associated Press Radio in the 1990s and early 2000s. He's p.
Doug Whiteman Personal Finance EditorDoug Whiteman is an award-winning journalist with three decades of experience covering personal finance, starting when he was the Washington, D.C.-based consumer news editor and reporter for Associated Press Radio in the 1990s and early 2000s. He's p.
Doug Whiteman Personal Finance EditorDoug Whiteman is an award-winning journalist with three decades of experience covering personal finance, starting when he was the Washington, D.C.-based consumer news editor and reporter for Associated Press Radio in the 1990s and early 2000s. He's p.
Doug Whiteman Personal Finance EditorDoug Whiteman is an award-winning journalist with three decades of experience covering personal finance, starting when he was the Washington, D.C.-based consumer news editor and reporter for Associated Press Radio in the 1990s and early 2000s. He's p.
| Personal Finance Editor
Updated: Apr 22, 2022, 7:00am
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Getty
Wire transfers allow customers to move money electronically from an account at one bank or credit union to an account somewhere else — usually for a price. These generally safe and speedy transactions, which are done without cash changing hands, can be carried out between financial institutions within the U.S., or with institutions in other countries.
Wire transfers are ideal for quickly sending large amounts of cash. For instance, you might use a wire transfer to send as much as $500,000 from your bank account to a title company’s account when you’re closing on the purchase of a home. Financial institutions normally charge wire transfer fees to complete these transactions, and if you make a habit of moving your money around, the costs can add up.
Was this article helpful?
Share your feedback Send feedback to the editorial team Thank You for your feedback! Something went wrong. Please try again later.
By Forbes Advisor Brand Group
By Jenn Underwood
By Rachel Witkowski
By Natalie Campisi
By Forbes Advisor Brand Group
By Natalie Campisi
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Personal Finance ExpertJohn Egan is a veteran personal finance writer whose work has been published by outlets such as Bankrate, Experian, Newsweek Vault and Investopedia.
© 2024 Forbes Media LLC. All Rights Reserved.
Are you sure you want to rest your choices?The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. This compensation comes from two main sources. First, we provide paid placements to advertisers to present their offers. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market. Second, we also include links to advertisers’ offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.
