[olliej]

Wire transfers can take days (I’ve once had it take more than a month), generally aren’t reversible, and it’s difficult to verify everything is correct beyond read through what you’ve entered multiple times.

There’s also no receipt you can point to to show the intended recipient was who received it.

That’s a huge disincentive for the client/customer to pay that way, and for the receiver the large delay in receiving money can be limiting as well.

Obviously it’s absurd that we’re still in this position in 2020 (that there isn’t a close approximation of instantaneous international transactions at a reasonable - eg fixed - price is beyond stupid)

[user5994461]

That's a rather pessimistic view of bank transfer. Companies doing B2B transactions above 10k regularly use and often prefer bank transfer. It's more security for both the buyer and the seller, no fees, and cheaper exchange rate if changing currencies.

The reversibility of card charges is a huge con, not a pro. Don't want it for large transactions, especially if involving physical goods (non recoverable costs). Besides, chargeback is a privilege reserved to consumers, it's not available to business accounts.