{"id":427,"date":"2021-04-27T04:21:30","date_gmt":"2021-04-27T04:21:30","guid":{"rendered":"https:\/\/enorcerna.com\/wiki\/what-is\/wire-transfer\/"},"modified":"2021-04-27T04:21:30","modified_gmt":"2021-04-27T04:21:30","slug":"wire-transfer","status":"publish","type":"post","link":"https:\/\/enorcerna.com\/wiki\/what-is\/wire-transfer\/","title":{"rendered":"Wire transfer"},"content":{"rendered":"
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What is a bank transfer?<\/h2>\n

A bank transfer is a transfer of money that is made through Bank entities,<\/strong> from the account of a person who order<\/strong> the transfer to the account of another that receives the money (beneficiary<\/strong>). It is executed between different banks, that is, there is usually at least 2 banks involved<\/strong>.<\/p>\n

When transfers are made within the same bank, that is, when the person ordering and the beneficiary have their account in the same bank, the transfer is called transfer<\/strong>.<\/p>\n

Types of bank transfers<\/h2>\n

Bank transfers can be classified according to different criteria, including geography, method and time.<\/p>\n

In function of the geography<\/strong><\/h3>\n

Depending on geography, bank transfers can be:<\/p>\n

    \n
  • \n
      \n
    • Nationals<\/strong>: when the payer and the beneficiary are in the same country (Colombia, for example).<\/li>\n
    • Exteriors<\/strong>: when the payer and the beneficiary are in different countries (Colombia and Mexico, for example). Transfers between localities could also be included within this classification; However, as the banking systems are national, it does not usually make a difference to make a transfer between localities or within the same locality.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

      Depending on the method<\/h3>\n

      Depending on the method with which it is ordered, bank transfers can be:<\/p>\n

        \n
      • \n
          \n
        • Via ATMs<\/strong>: some ATMs have the option of making bank transfers by entering the card and the data of the destination account.<\/li>\n
        • In the branch office<\/strong>: we can go to a bank branch and order to make a deposit in a person's account.<\/li>\n
        • For telephone<\/strong> or fax:<\/strong> you can call the bank or send a fax with the transfer details.<\/li>\n
        • For Internet<\/strong>: banks have online platforms with which people can make transfer orders from their home or work without having to move to a site.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

          Function of time<\/strong><\/h3>\n

          Time-based bank transfers can be classified as follows:<\/p>\n

            \n
          • \n
              \n
            • Ordinary<\/strong>: which take between 1 and 2 business days. This varies depending on the regulations in the countries.<\/li>\n
            • Urgent<\/strong>: they are credited the same day to the beneficiary's account.<\/li>\n
            • Immediate<\/strong>: as soon as the transfer is made, the beneficiary has the money available in his account. This usually happens when transfers are made.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

              Bank transfer fees<\/h2>\n

              Operations through banking entities generate an expense, and in this way said entities manage to generate income <\/strong>to maintain your activities. This expense represents the commission that must be paid by those involved in the transaction.<\/p>\n

              Bank transfer fees depend on the nature of the transfer, that is, on the classification seen above:<\/p>\n

                \n
              • Ordinary transfer<\/strong>- Fees for ordinary transfers are usually low, but can vary depending on the method by which they are requested.<\/li>\n
              • Transfer<\/strong>: transfers are usually free of commission because they are an operation within the bank.<\/li>\n
              • Return<\/strong>: when a transfer is not made because there was an error in the data indicated by the payer.<\/li>\n
              • Transfer abroad<\/strong>: this type of transaction usually charges a higher amount than national ones.<\/li>\n<\/ul>\n\n\n\n\n\n
                Bibliography:<\/th>\n<\/tr>\n<\/thead>\n
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                  \n
                • What is a bank and what is its classification?<\/em> Recovered from bbva.<\/li>\n
                • Glossary of Economic Terms<\/em>. Recovered from bcrp.<\/li>\n
                • Glossary of Economic Terms<\/em>. Recovered from the mortgage.<\/li>\n
                • Carlos Sabino. Dictionary. In Dictionary of Economics and Finance (279)<\/em>. Caracas: Panapo. 1991.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n
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                  What is a bank transfer? A bank transfer is a transfer of…<\/p>\n","protected":false},"author":1,"featured_media":428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-is"],"_links":{"self":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/posts\/427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/comments?post=427"}],"version-history":[{"count":0,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/posts\/427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/media\/428"}],"wp:attachment":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/media?parent=427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/categories?post=427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/tags?post=427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}