A secure online money transfer


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Money wire is a bank transfer, which is the operation by which a person or entity (the payer) instructs your bank to send, with a charge to your account, a certain amount of money to the account of another person or company (the beneficiary). In other words, making a transfer means transferring money from one account to another, either from the same entity or from another entity.

There are similar transactions to transfers, such as money wire orders that indicate that they must be delivered in cash to the beneficiary. Also, the drafts have the same effect, in which the payer takes a cash amount to the bank of his entity so that it is sent to the beneficiary’s account in another credit institution. However, the acceptance of cash receipts that are paid into an account of the receiving entity itself is not a transfer.


It is a banking service for which commissions are normally charged. Almost all entities charge a percentage of the amount of the money wire but set a minimum amount to be charged.

If you use this service it is often worth comparing the rates of several entities. Transfers made over the Internet tend to be much cheaper, and in some cases are free.

Types of transfers

Bank transfers can be classified according to the term, the way to order their execution and the geographical area.

Depending on the execution period, a distinction is made between ordinary and urgent transfers. As its name suggests, urgent ones have a shorter term and consequently, a higher cost.

The most important classification is the one that distinguishes according to the geographical area since both the commissions and the execution periods are very different in each case.

It is important to remember that, although the debit in the account of the payer occurs at the same moment in which the transfer is executed, the availability of funds by the recipient is not immediate. In national money wire between different entities it may take up to two business days, and the deadlines are increased in the case of cross-border transfers (especially if the origin or destination is outside the European Union).

Special care should be taken when ordering transfers to countries that are experiencing economic and financial difficulties, since the security of shipments may be compromised; In addition, it is expected that the expenses are much higher than normal.

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