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is money transfer via wire transfer safe?

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Mockingbird

Offshore Agent
wire transfers are safe usually. Safer if you are recieveing, if you are the sender you have risk if you have not researched who you are sending the payment to. Many people get scammed as senders.
 

rkbehera1

Corporate Services
Business Angel
Wire Transfer takes more time to reach the receiver.So some risks are definitely there.But the service of Bank is involved while sending money through wire transfer.So it is not unsafe too.It is the credibility of Banks and their quality of service that decides the safety of WIRE TRANSFER.


Generally sending money through Bank wire transfer is safe.But it takes relatively more time than bankers check.The transaction charges are also higher.But you should know the receiver of payment clearly before sending. Other wise the receiver may reply that he/she has not received the money you sent.
 
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uplana

Corporate Services
Mentor Group Gold
rkbehera1 said:
Generally sending money through Bank wire transfer is safe.But it takes relatively more time than bankers check.The transaction charges are also higher.But you should know the receiver of payment clearly before sending. Other wise the receiver may reply that he/she has not received the money you sent.
I am agree with you. The basic problem with this mode of transaction is that there are chances of fraudulent attempts. So you have to perform a proper research before sending money to someone and it will also take a long time to complete your transactions.
 

andrew25

Offshore Agent
Wire transfers are generally safe if you can get all information needed for the transaction precisely. However one of the things is that the fee for such transfers are usually high when compared with transferring through other modes.
 

heather

Offshore Agent
Here in the United States, we have been told for a few years now to not trust wire transfers such as Western Union, unless you completely know and trust who it is coming from, because of all the fraud.
 
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