How Do You Conduct A Wire Transfer?
A wire transfer is a transfer of money from one bank account to another. The actual transfer is done by the bank, and neither the sender nor the recipient of the money sees or touches the actual funds. Here are a few steps to transfer money from one account to another. Contact your bank by phone or via the Internet and provide the following information: the name of the person or firm you are wiring money to, the bank’s American Banking Association (ABA) routing number (which can be obtained from the recipient’s bank), the recipient’s account number, the address and phone number of the bank, and the name of the person to whom questions can be addressed. Determine the amount of money you wish to wire and when it needs to be in the recipient’s account. Complete the transaction through your bank. Some banks allow you to initiate the transaction via the Internet, while others require you to contact them by phone or fax. Confirm that the transaction took place. Ask for a faxed or e-mailed tr
