Wire Transfer Fees

[morn-n-fl]

What is the name of your state (only U.S. law)? Florida
If an on-line store charges it's customer for paying with wire transfers, can they make a profit on it?
Example- The bank charges $15.00 per wire transfer, the on-line store bills the customer $30.

Thank you for your help.

[ariastar]

Yes. Next time, pay another way.

[Antigone*of*Greece]

Originally Posted by morn-n-fl

What is the name of your state (only U.S. law)? Florida
If an on-line store charges it's customer for paying with wire transfers, can they make a profit on it?
Example- The bank charges $15.00 per wire transfer, the on-line store bills the customer $30.

Thank you for your help.

How do you know what the bank charges for incoming or outgoing wires? Wait...don't tell me... you've got a crystal ball, right?

[morn-n-fl]

No- I happen to work at a company that does this and I am wondering if it is legal. That is how I know what the cost is.

[Antigone*of*Greece]

Originally Posted by morn-n-fl

No- I happen to work at a company that does this and I am wondering if it is legal. That is how I know what the cost is.

You are only looking at the hard-dollar cost of the wire itself. There may be other costs associated to sending the funds (like maybe labor). They can charge whatever they'd like as long as someone is willing to pay for it.

In this country we call that capitalism. (econ 101)