Every once in a while, we like to survey banks on a particular topic and report back to our readers on how much the banks differ. This month we decided to compare how much banks charge their consumer customers for sending or receiving domestic wire transfers.
We surveyed ten different banks with the goal of getting a mix of large and small, and both branch-based and online-only banks.
In general, it appears fees for sending a domestic wire transfer are fairly consistent, generally costing either $20 or $25 per transfer, although we did find one bank (Clear Sky) that only charged $15 for the service. Some banks also offered a small discount for initiating the entire transaction online.
However, there was a larger discrepancy in how much banks charged to receive wire transfers. Some banks, like Ally, EverBank, and Schwab, didn’t assess a fee at all for the service. Meanwhile, most of the more traditional banks that have branches, assessed fees between $10 and $15 for each wire transfer received.
Here’s a table with the full results:
|Bank Name||Wire In||Wire Out|
|Bank of America||$12||$25|
I recently used Fidelity for a wire transfer. It was very easy and they charge $0 for incoming and $15 for outgoing.
Posted by drew -- Jul 15, 2010 5:50 PM
TD Bank also charges $15:
Posted by averb -- Jul 18, 2010 2:22 PM
Should I be charged wire transfer fees for transactions linking my ING account with my bank?
Chase is charging me this, is this typical? Is there a better way to link ING to another banking institution?
Posted by thorton -- Jul 23, 2010 11:20 AM
Rates and accounts may differ by geography so enter your zip code for better information.