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Answers
Question :-
What is wire transferring?
Solution :-
Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office.
Safety : Are wire transfers safe? Wire transfers are safe, but they are also often used by scammers to commit fraud, so you should proceed with caution. A wire transfer is fast and immediate, and con artists often take advantage of its speediness and the fact that it's irreversible.
Limits : Many major banks impose a per-day or per-transaction wire transfer limit. For example, Chase Bank sets the limit at $100,000 for individuals, but offers higher limits to businesses on request. Citi imposes various amounts depending on the type of account, but it ranges between $1,000 and $10,000 online.
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