A very important question regarding wire transfers adn DD/ACH?

Question

I know that a bank wire cots sme money but idk i dont knw if they start charging fess from a particular amount.I mean i dont know whether they charge you for any amount you wire or they haev a starting point of amount for which they charge the fees.

SEcondly does it charge bothways to sender and receiver or just oneway ? and to whom ???

VEry very very very very urgent plz help

Update:

@ stan big tnx on answering my question.Can you please let me know the minimum amount they charge .I mean can you guess and tell me .Tnx

Answer 1

Favorite Answer

The fees are generally dependent on the bank & your account type.

ACH = Automated Clearing House, which a 3rd party financial transfer service that banks use to almost instantly transfer any sum of money to another bank - there is in nearly all cases a fee for sending wire transfers

DDA = Direct Deposit Account (checking acct), you can also transfer funds to another financial institution or an individual account holder as long as you have the following:

Bank Name

Account Holder Name

Account Number to transfer $ into

The banks routing number

There is often no added charge for this service; however, transfers can take 2 - 4 business days.

Answer 2

It should be a set amount no matter how much money is involved. No, they do not charge the sender

Source(s): Retired bill collector 35 years