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What should I know about wire transfers?
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What should I know about wire transfers?

A wire transfer is an electronic payment service for transferring funds by wire, for example through SWIFT, the Federal Reserve Wire Network or the Clearing House Interbank Payments System. Wire transfers are generally faster and more expensive than ACH transfers.

1. Wire transfer must be initiated through a bank account. We do not accept any 3rd party wires and all transactions must be in same name. Third-party wires will be rejected and returned. A returned wire may incur bank fees which will be borne by the remitter. 

2. Information of "For Final Credit To" is a must for incoming wires, otherwise the funds will be returned.

3. ABA number will be used for a domestic U.S. bank wires, while SWIFT codes are used for international banks.

4. For international wires, the received funds may be less than the sent funds due to fees charged by the intermediary bank.

5. You must provide your full name and Webull account number in the description/comment of your wire transfer, or the transfer will be returned. Please contact us if you have any questions.

6. Domestic wire transfers can be completed in 2 business days, but international wire transfers may take up to 5 business days. Funds will be placed into your account the next business day after we receive your deposit.

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