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Wire Transfer vs. Direct Deposit

 
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  #1  
Old
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Join Date: February 23rd, 2005
Posts: 95
Wire Transfer vs. Direct Deposit

Hello all!

I have got tired already to write letters in SAS support to Brian !
He probably does not wish to discuss question about Wire Transfer (SWIFT Wire Transfer)!
Let's hope, that its attention to stay on this thread!

Direct Deposit and Wire Transfer are bank remittances! As told my one acquaintance who works in bank, a difference only in the coding of sent transfers (banking software).
Affiliates which banking in developed countries, such as US, Canada, UK, etc. can not worry - it is accessible Direct Deposit to them !
And how to be with other countries? They that are derelicts and should rush with these checks, hoping what they will not be lost on mail?

Someone can authentically answer in a question - WHY SAS and many other brokers (except Affiliate Future) cannot make payments via Wire Transfer?

Besides my acquaintance who works in a department of the international remittances, answers that all problem in automation. I.e. Direct Deposit payments enough easy to automate! But something prompts to me, that a problem not in automation!

Brian! You can all the same will find time to discuss with us this question ?

Sincerely!
  #2  
Old
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Join Date: June 9th, 2007
Location: Wellington New zealand
Posts: 11
Brian

I am keen to an answer as well. Can you respond to this thread please? Can you look at some other payment option other than sending checks to your overseas affiliates?? CJ sends me checks too but in NZD. It takes me 3 days to cash, whereas yours takes me 6-7 weeks to cash. I just shifted one merchant to CJ (from SAS just because of this). Linkshare auto deposits for me.

It would be great if you can just at least look into this and get back to us.

I have written to you as well and not got any repy
  #3  
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Join Date: February 23rd, 2005
Posts: 95
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Quote:
Originally Posted by gita
CJ sends me checks too but in NZD. It takes me 3 days to cash, whereas yours takes me 6-7 weeks to cash.
In bank of what country you cash your CJ checks? 3 days - it`s cool date!
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  #4  
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Join Date: July 18th, 2006
Posts: 92
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Quote:
Originally Posted by Galant
Direct Deposit and Wire Transfer are bank remittances! As told my one acquaintance who works in bank, a difference only in the coding of sent transfers (banking software).

Your friend doesn't know what they are talking about. It might look the same to your friend but the process is very different.

There are a few ways to send a Wire from an american bank. Most go through the Federal Reserve system. An international wire goes through the SWIFT system.
Direct Deposit is transmitted using the ACH or Automated Clearing House System. An ACH transfer works the same way that a check does.

Most banks charge at least $25 to send a wire, plus there are usually fees charged by the receiving bank to the account holder. You may send $100 but only end up with $50.

The fees through ACH are minimal and the receiving bank almost never charges for it.

Unless you are sending a large sum of money, wiring it is expensive.
  #5  
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Join Date: February 23rd, 2005
Posts: 95
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Quote:
Originally Posted by KirkMcD
Direct Deposit is transmitted using the ACH or Automated Clearing House System. An ACH transfer works the same way that a check does.
KirkMcD! I live outside USA, and consequently I do not know subtleties of work of USA banking system! Explain please - on Direct Deposit it is possible to withdraw payments as well as under the check (without the consent of the bank account owner)? I can not understand in what difference Direct Deposit from Wire Transfer (SWIFT Transfer)! Explain please if not difficult! Since my bank acquaintance speaks as that and another is bank remittance, and a difference only in banking software!

Quote:
Originally Posted by KirkMcD
Most banks charge at least $25 to send a wire, plus there are usually fees charged by the receiving bank to the account holder. You may send $100 but only end up with $50. The fees through ACH are minimal and the receiving bank almost never charges for it.
Unless you are sending a large sum of money, wiring it is expensive.
FOR me the price of Wire Transfer (within limits certainly) is indifferent, considering that checks are lost at post, that the bank takes the commission fee for the check encashing and that is necessary to wait 30-45 days (at us) while money to be enlisted to account! Therefore frankly speaking I am ready to pay itself for Wire Transfer 100, 200 and even 500 US dollars! The question in other - whether is ready CJ to do for me it? I think is not present! Also I think to all of them equally, that as a result of such payments my earnings in CJ can increase considerably. Since in support there are usual managers, instead of directors and owners of the company, and it is indifferent how much we can to increase our income, so also income of CJ company!
  #6  
Old
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Join Date: June 9th, 2007
Location: Wellington New zealand
Posts: 11
Galant

CJ sends me Travelex checks made out to a local bank. I just bank it at my usual bank. As the checks are made out to a local bank it takes 3 days to cash it. I love CJ for doing this. SAS checks take me 45 days like you. CJ checks take 10 days to reach me. SAS check took 20 days to get to me (Don't know why as the country of origin is the same for both!!)
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  #7  
Old
Newbie
Join Date: February 23rd, 2005
Posts: 95
Brian has answered my inquiry concerning Wire Transfer:

[Edited: Please don't post email correspondance]

Really, I understand, that for some reasons make Wire Transfer it is not convenient, i.e. it is heavy to automate.
Brian also asserts, that Wire Transfer (SWIFT) is slow and expensive. In my bank a ceiling price for SWIFt-express is $40 (what amount of transfer has no value). Thus Wire will be in bank of the addressee the same day! Thus usual transfer costs $25 - money is usually enlisted next day (if all requisites are specified truly). The bank does not raise any other additional commission fee! There are banks which raise certain percent from an amount of transfer - 1-3 %. But it basically concerns investment accounts, instead of trading. Under the check the bank raises $25 (for each check of more than $1000 - on account of a corresponding bank) plus of 1-3 % for the collection! And it is necessary to wait from 3 weeks about 2 months! And some banks can not pay money 3 months under the check!
Therefore SWIFT is ideal payment for international unlike the check. Though for any reasons Direct Deposit can be and it is better, but it is inaccessible in all countries!

On and the business, I mean, that the reason is covered not that is heavy make SWIFT Wire Transfer, and that SWIFT is not carried out through ACH - about what wrote KirkMcD!

After all I think SAS would not refuse to receive $100-200 for everyone Wire Transfer and to defray its expenses! Whether not so Brian?

Last edited by Brian - ShareASale; August 20th, 2007 at 08:40 AM. Reason: Remove my quoted email
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