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Non-interest income, such as wire transfer fees, account maintenance fees, and so on, now account for about a third of bank revenue. Since deregulation in the 1980s, banks have charged higher and higher fees.
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What are US bank wire fees?įees are an inevitable part of FinTech, bank, or any other money transfer service. FinTech transfers enable foreign stakeholders and anyone else to access their money almost anywhere. Many overseas individuals do not have U.S. The problem is that bank-to-bank wire transfer fees are often rather high.Īt Xe, we facilitate international money transfers entirely online at competitive rates with low, transparent fees. Wire transfers to another bank, or bank-to-bank wires, are usually the top of mind way to move money quickly across international boundaries. And, when people overseas need money, a reliable, efficient, and low cost money transfer system is essential. Project stakeholders must be paid on time, or the project falls behind schedule. Sending money securely and conveniently is an important way of connecting with people who are far away. Additionally, many people have friends and family overseas. These environments are not too unusual today. Imagine having project stakeholders in the United States, South Asia, and Europe. Projects which were previously confined to one office, or maybe a few branch offices, could reach across international boundaries. A scant ten years from now, freelancers could make up 80 percent of the world’s workforce.