Answers About Wire Transfers
Select from the following questions about wire transfers, wire transfer fees, and wire transfer errors.
How much can a bank charge for a wire transfer?
Federal banking laws and regulations do not establish either of the following:
- the services for which fees may be imposed
- the maximum amount that national banks can charge for wire transfers
These decisions are made by the bank and, in some instances, are prescribed by State law.
National banks are required to disclose any fees when the deposit account is established. Therefore, you may want to review your account agreement with the bank as well as any current fee schedule.
If you feel that your bank imposes exorbitant wire transfer fees, shop around—and purchase your financial services accordingly.
Money was wired from my account to another party, but that party did not receive the money. What can I do?
Notify the bank so that it can investigate your claim. If you first contact the bank by phone, be sure to follow up in writing.
Money was wired to me, but it isn't in my account. What can I do?
Contact the party that wired the funds to you. Ask them to notify their bank.