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by homedepotdave 1740 days ago
Interesting... I don't know much about Fedwire, I will check it out. Thanks YuriNiyazov!

And yes sorry it's not free, just relatively cheap -- I think it's $200/year and $1 per transaction, which doesn't seem like enough to cover traditional wires.
1 comments
YuriNiyazov 1740 days ago
These are the fedwire fees:

https://www.frbservices.org/resources/fees/wires-2021.html

All fees under $1

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homedepotdave 1739 days ago
Alright yuriniyazov, I’ve been reading for hours about Fedwire but I’m still a bit stumped. To participate directly in Fedwire you need to have a Master account with the Fed, in which case you need to basically be a bank. So they… have a secret subsidiary that’s a bank that has a fed master account? Or somehow a very, very good relationship with their bank such that their bank (which has a master account) proxies the Fedwire transactions for them at cost?
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