Bank transfers are often the fastest way to transfer funds between bank accounts. A bank transfer is as follows:

1 – A person who wishes to transfer (or someone you have designated and financially empowered to act on their behalf), banking and gives the bank to transfer a certain amount of money. IBAN and BIC are shown and what the bank knows that the money should be sent a.

2 -The issuing bank sends a message through a secure system (such as Fedwire or SWIFT), the receiving bank, requesting for payment as directed.

3 – The message also includes settlement instructions. The actual transfer is not instantaneous: funds may take several hours or even days to move the account to the consignor by the consignee.

4 – Any of the participating banks must have an account of reciprocity with others, or the payment must be sent to a bank account with the correspondent bank of additional benefits for the recipient.

The banks collect the service payments the sender and recipient. The bank generally charge for sending an independent commission of the funds transferred, while the receiving bank and intermediary banks through which the charge transfer at the rate of the funds transferred to beneficiaries who receive less than when the ” sender sent.