When sending a check or using a credit card are not preferred options, you may choose to wire transfer money from your personal bank account. Wire transfers are quick and inexpensive, and  allow you to send money from anywhere in the world.  They are one of the best methods of international money transfer, and often offer same-day service. 

What is a wire transfer?
A wire transfer is an electronic payment service for transferring funds by wire (for example, through the Federal Reserve Wire Network or the Clearing House Interbank Payments System).

Before beginning the process of transferring money by wire, you should have the following information handy:

1. How much money you wish to transfer. If transferring from a bank account, make sure that you have sufficient funds to cover the transaction, including any service costs. Fees for overdrawn accounts can be very steep!

2. Banc De Binary's Full Corporate Name and Bank Details.

3. The bank account number of Banc De Binary.

4. The Routing number, SWIFT Code, and IBAN of the bank or financial institution that holds the account the money is being sent to.

5. The bank account number and routing number of the account you are sending the money from.

See Wire Transfer Details Below

What is a SWIFT Code # and what is it used for?

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is an industry-owned co-operative supplying secure, standardized messaging services and interface software to nearly 8,100 financial institutions in 207 countries and territories. SWIFT members include banks, broker-dealers and investment managers. While not always required, a Swift Code number may be required by some banks for the completion of wire transfers.
 
What is an IBAN number?

The International Bank Account Number (IBAN) is the international standard for identifying international bank accounts across national borders.

The IBAN is comprised of a maximum of 27 alphanumeric characters within Europe and a maximum of 34 outside of Europe (German IBAN: 22 characters). At present, the United States does not participate in IBAN. Therefore, Bank of America does not have an IBAN number.

When sending wire transfers to countries that have IBAN numbers, we recommend including those numbers in your wire transfer documentation. According to the European Directive, only the account-keeping bank may calculate the IBAN / check digits. To obtain the IBAN numbers of Banc De Binary's bank account please contact us directly.

  

Once you have that information on hand, you are ready to proceed with the wire transfer.  Here's how to send money instantly with wire transfers:

1. Contact the bank or financial institution that you would like to use for the wire transfer.  It is recommended that you use the bank that has your account as there are fees that go with a wire transfer and they will likely be lower through your own bank. Western Union is the most famous service for money wire transfers.

2. Advise the bank how much money you wish to transfer and who you wish to transfer it to. Provide them with the information listed above. If possible, do so in writing as it is easy to transpose numbers if you are passing them over the phone.

3. Request a confirmation number or receipt that the transfer has been completed.

It is also possible to transfer money online. Perhaps the most popular website is WesternUnion. Completing a wire transfer over the Internet is done by following the same steps as a bank initiated transfer.

If you are looking to wire transfer money in a short time frame, make sure you ask the bank for its deadline and transfer time. Most banks will transfer money the same day requested, but there is usually a deadline that you will need to be aware of if you need the money to be received by a particular time. When you are requesting the wire transfer, ask the bank when the money will arrive.

Tips & Warnings

1. The information you give to your bank should be in writing to minimize errors.

2. A wire transfer can transfer funds within a day, provided you initiate it prior to your bank's deadline.

3. Make sure the funds are in the account you are wiring from, or the wire will not go through.

4. Banks charge for making wire transfers; always ask how much before proceeding.

5. Wire transfers are not always immediate. Ask your bank when the funds will be transferred and when they will be received.

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