what is meant by wiretransfer?

Discussion in 'Payment Processing' started by star432, Sep 1, 2008.

  1. #1
    iam newbie, i dont about it. can any body get money by using wiretransfer? what is process in wiretransfer? can i do wiretransfer if i have some money in my bank?
     
    star432, Sep 1, 2008 IP
  2. eddy2099

    eddy2099 Peon

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    #2
    In the US, the term is Wire Transfer while in other places it is called Telegraphic Transfer. Basically, Wire Transfer is a fast means of funds transfer especially between two different countries. Usually the money would reach the other side within 1 to 3 days.

    Yes, anyone can do wire transfer and it would be best to do it with the bank you have a working relationship with, ie have a bank account there.

    If you want to send money via wire transfer, what you do is to approach your bank and ask them for the Wire Transfer/Telegraphic Transfer (TT) form, you will be required to obtain for the receipient information such as their Name in their bank account, Bank Account Number, Bank Name, Branch Name/Number, Bank Routing Number and all that. The requirement information would be available on the form. Just ask the person you want to send the money to the information your bank need. Once you have all the information, bring the form to your bank and they will take care of the rest. Also check with your bank how much the transfer would cost. It may not be worthwhile if the dollar value is small.

    Check out http://en.wikipedia.org/wiki/Wire_transfer for more info
     
    eddy2099, Sep 1, 2008 IP
  3. nitinleew

    nitinleew Well-Known Member

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    #3
    Yes,You can get your money by wire transfer..Just open ur paypal account click withdraw then add all details about ur bank account
     
    nitinleew, Sep 2, 2008 IP
  4. stephengames

    stephengames Peon

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    #4
    wiretransfer mean you can transfer payment directly to bank account.
     
    stephengames, Sep 2, 2008 IP
  5. olddocks

    olddocks Notable Member

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    #5
    TT or wire transfer or SWIFT transfer all the same.
     
    olddocks, Sep 2, 2008 IP