If you are living anywhere in the world, you need money to send to your family and friends. Money transfer provides their customers with the ability to transfer money from one account to another anywhere in the world. The process is safe and fast, but if you use this regularly, they have some small transaction fees because you are using their facility to send your money. This is how any firm works. Let’s know How Much Is Chases Wire Transfer Fee.
They are generally used for large amounts of cash. Suppose you are sending money for your car or home the amount will also be huge. Then the wire transfer charges you to complete the transaction. As the transaction fees depend upon your usage, How much money are you sending and where are you sending it? These are some circumstances which they check.
How much of a transfer fee do they charge?
Below are some figures which are charged by some institutions:
- Bank of America charges domestic wire transfer inbound fees of up to 15 dollars and an outbound fee of around 30 dollars.
- Capital One does not charge an inbound transfer fee but charges a $30 outbound fee.
- Citibank charged inbound around $15 and outbound charged $25 for inline and $35 for other transfers.
- Fidelity does not charge any inbound or outbound transfer fees.
- PNC charges $15 inbound, $25 for self-service, and $30 for assisted transfer.
- TD Bank, Truist, and Wells Fargo charged $15 for inbound transfers and $30 for outbound transfers.
International charges are higher compared to domestic charges. Consider a US bank: they charge $20 for inbound domestic wire transfers and $25 for incoming international transfers, bank charges 30 dollars for an outgoing domestic transfer and 50 dollars for an international outbound transfer. They charge more for international because the processing is very tricky. After all, they need to send to the clearing house and the processing system, which will be in other countries. It means it will take an international transfer, which may mean taking the currency conversion fee, and the transfer will take around seven working days to complete.
The chase wire transfer fee depends upon how much you are sending or receiving internationally or domestically.
- Chases Bank charges around $15 if done through a banker, their website, or their app; otherwise, their transfer fee is 0.
- If you take help from their banker to transfer money within the US account, then you will be charged 35 cents.
- If you use their mobile app and website for transferring within the US account, then they will charge you 25 dollars.
- If you are sending money internationally and you use the help of their banker, then they will charge 50 cents per transfer.
- If you use their mobile app or website for sending international money, then they will charge around 40 dollars.
- If you are doing a foreign exchange wire transfer through Chase Bank, then they will charge some transaction fee according to the foreign currency exchange rate.
- If your bank does not convert your international money, then other international banks put an extra exchange rate on them which you have to pay.
How can we send it through Chase bank?
You can send it domestically and internally.
Steps to transfer domestically:
- You must create an account on their app.
- Go to their menu and choose to transfer.
- It’s up to you whether you are selecting a wire transfer or a scheduled transfer.
- You have to add your account number, recipient, and account in which you have to transfer money.
- Add the amount and the date.
- Finally, click on select and finish.
Steps to transfer internationally:
- You must create an account on their app.
- Go to their menu and choose to transfer.
- It’s up to you whether you are selecting a global transfer or a scheduled transfer.
- Then you have to select the country and whether the transfer is for an individual or a business.
- Then enter the amount and click on Next.
- Add the recipient and international account number where you want to transfer your money.
- The final step is authorization and completing the transaction.
Conclusion
Using a wire transfer is a safe and quick way to transfer your money. Most businesses are accepting the money from this digitalized portal as compared to checks on hand, but many organizations charge transaction fees if you are sending money via wire transfer.
FAQ:
Q.1: Does Chase bank have some policy for the transfer fee?
They have some special considerations in which they cannot pay the transfer fee. as they have premier plus checking, private client checking, savings, and chase premier savings.
Q.2: How can we avoid the transfer fee?
You can choose a free payment option. Some companies, like Zelle, provide free-of-cost transfers and receive money.
