Wire transfer, bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another.
To get a wire transfer from us you should have a bank account on your or your company name. It could be any bank in your home country, in Europe or even online bank. We are usually sending transfers through SWIFT with OUR payment instructions, means that we pay the fees. It is very complex topic, so if you want to know more, please continue to Wikipedia - Wire transfer.
The wire is classic of classics. Wire transfers/SWIFT payments are usually more expensive (higher international bank fees) and slower (bank can ask us questions like who and why we are sending to) than local bank transfers. Fees are higher because the transfer is international, it may be going through several banks (correspondence banks) and each bank can deduct a fee. Also the bank may apply currency conversion too which usually costs 1-3%.
However, wire is very popular payment method in our network because when it is possible we are using TransferWise . It means that we are sending you directly your local currency to your local bank , paying a very little fee, but overall it is much cheaper and faster than using a wire transfer, PayPal or similar services. You can check that yourself. These type of transfers can take only couple of minutes instead of days!
The best thing is you can make it instant but using your own TransferWise account, just get a free account in multiple currencies - TransferWise borderless account . We are using them, we can recommend them, but the choice is yours. As the alternative to TransferWise, you can look at Wirex or CurrencyFair . Their fees are pretty good too, but they do not offer as many services as TransferWise do.
|Payout minimum||Time to deliver||Fees|
|€100||NET-15 days||Up to 2 business days||€1 + 0.00%||Depends on your bank|