Bank Transfer in United States

To make local bank transfer in United States, you need to have the recipient name, routing number, bank name and account number. Local bank transfer can be made by visiting the bank’s branch throughout the country or via the most convenient and popular method, internet banking.

Routing number is nine digits numerical codes used to identify an individual branch of a financial institution in United States (US).

Local bank transfer needs between 1 to 3 days to complete depending on the option selected while making the transfer. 1 day transfer requires you pay a higher fee while 2-3 days transfer is either free of have lower charges.

If you are transferring money from outside United States, you also need to have SWIFT Code on top of the recipient name, routing number, bank name and account number. Normally, it takes take approximately between 1 to 3 days for the fund to be credited to recipient’s account.

Bank Transfer in Malaysia

In Malaysia, bank transfer can be made either by visiting the bank’s branch, through ATM machines or via internet banking. To make bank transfer locally within Malaysia, you will need the recipient name, bank name and account number. This no bank codes needed to make the transfer.

Recipient will receive the fund immediately if the transfer is done within the same bank. For inter-bank or GIRO transfer, the recipient will receive the fund either within 2 working day or immediately depending on inter-bank transfer method & time. Immediate inter-bank fund transfer sometimes called “Instant Transfer,” where the transfer fee is slightly higher.

For inward international fund transfer to the Malaysia, swift code is also needed on top of recipient name, bank name and account number. Normally, it takes take approximately between 1 to 3 days for the fund to be credited to recipient’s account. Similar to local bank transfer, there is no local bank codes needed.

Although, banks in Malaysia have many branches throughout the country, most of the time, each branch does not have separate SWIFT code. To make inward international fund transfer to the Malaysia, you only need the head office SWIFT Code. The list of banks & its branches throughout Malaysia can be found in Malaysian Directory.

If you make bank transfer to invest in Malaysia, stock market & property investment are 2 of the most popular method.

Bank Transfer in New Zealand

Bank transfer is the most popular method to transfer money locally in New Zealand. The recipient will received the fund transferred instantly if funds are transferred within the same bank.  In the case of money being transferred between a different bank, the recipient will receive the money before the end of next working day.

There is a new initiative to speed up inter bank money transfer planned by Reserve Bank of New Zealand and Payments New Zealand. The initiative aim to make inter bank money transfer completed within a few hours. Faster payments should mean quicker trades, and it is very good to the economy.

In New Zealand, bank transfer can be made either by visiting the bank’s branch, through ATM that is available throughout the country or the most convenience way via internet banking. To make bank transfer locally within New Zealand, you will need the recipient name, bank name and account number.

The first six digit of all bank account numbers in New Zealand is called BSB Number. This number is used to identify the branch where the account is held within New Zealand. It is very important to have correct recipient details and bank account to ensure the recipient received the money as soon as possible.

For inward international fund transfer to the New Zealand, swift code is also needed on top of recipient name, bank name and account number. International fund transfer to New Zealand may take approximately between 1 to 3 days.

Bank Transfer in United Kingdom (UK)

In the United Kingdom (UK), bank transfer is the most commonly used method to transfer money locally. The recipient will received the fund transferred instantly if funds are transferred within the same bank.  In the case of money being transferred between a different bank, the recipient will receive the money before the end of next working day.

Bank transfer can be made either by visiting the bank’s branch, through ATM or via internet banking. To make bank transfer locally within UK, you will need the recipient name, bank name, account number and Sort Code corresponding to the recipient bank. Sort Code is a six digits code identifies both the bank, and the branch where the account is held. It is very important to have a correct Sort Code to ensure the recipient received the money as soon as possible.

For international fund transfer to the UK, swift code is also needed on top of recipient name, bank name, account number and sort code corresponding to the recipient bank. International fund transfer to UK may take approximately between 1 to 3 days.

Wire Transfer

Wire Transfer is also commonly known as Foreign Telegraphic Transfer in some countries. Wire transfer is a type of electronic fund transfer (EFT). It is considered one of the safest ways to transfer funds to other countries, especially for a large amount of money.

In order to successfully make a wire transfer to another country, you will need to get some information from the recipient. The required information is the recipient details such as name, address, and contact number. Recipient banks information such as bank name, bank location & address, account number and swift code are also needed. Please remember that bank swift code is very important for wire transfer.

To perform wire transfer, you have to visit your bank and there will be a fee to the transaction. Some banks, especially the large banking corporation, offer wire transfer through their internet banking. The advantage of wire transfer through internet banking are you will be able to do it at the comfort of your home or office without visiting the bank. Sometimes, the fees are cheaper too.

All you have to do is completing the wire transfer form & pay the fee. The recipient should be able to receive the money within 1 to 3 days time.