Cels Forum

> 1)  Can you get a bank transfer from a bank that isn't yours

Probably not : it's an account to account transfer.

> 2)  How long does it take for a bank transfer to go through

It's an electronic transaction so in theory it shouldn't
take one day. In reality, they do it in 3 to 5 days but
that depend of the banks.

> 3)  What if any times would it be good to do a transfer (i.e. the
> dollar-yen trade isn't going on to mess up the amount for those who
> can't convert immediately)?

You can do the transfer in the currency that you want.
So send the amount the person realy want in his currency..

Note that as it's an electronic transaction, you get
a better exchange rate than if you were buying bank note.

> 4)  What kind of records are kept by banks about what happened 
> with the bank transfer?

They know exactly to which bank and account they sent
the money. And the bank that received the money also
have those information.

Note that many bank (it depend of the country) will
take a fee to receive a wire transfer. Personaly,
I think that it's to the person who receive the transfer
to assume this fee. After all, when someone pay by
credit card, the card company takes a "%" of the amount.
In the same way, you generaly have to pay a fee to
cash a check.

The minimal information you will need to do a bank
transfer is the name and address of the other bank.
The account number and owner of the account.
If you can get the "clearing" or SWIFT number (if
the bank has any), it's even better : you will
be sure to get the right branch of the right bank
directly, without your bank losing time searching...


Cheers,
Yann Stettler