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Anonymous asked in Politics & GovernmentLaw & Ethics · 7 months ago

Are there any potential downsides to wiring money from bank to bank, for a long term trusted friend? I have loaned him money before and he?

paid me back in full, no problem. He will pay me back this time too.

2 Answers

  • 7 months ago

    Why can't you use a check? A wire transfer is much like using a check, except that it is faster. Many banks charge fees for sending or receiving a wire transfer.

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  • 7 months ago

    Yes, the potential downside is that you will not get your money back. You said your friend has paid you back before, but there is still the potential that such payback will not occur in the future.

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