Fuck These Wire Fees

fidelity will waive wire fees if you have a private access account. gets you all sorts of benefits but requires major money. free ATM fee at any ATM (other banks ATM, they just pay the fee themselves). list of benefits go on a long long ways.

some of ya'll can prolly do it. dunno the exact minimum # but do know $15m++ of household managed assets will get you done (assets you have authority to make decisions on -- do *not* have to be all yours. if you manage other peeps $, company $, etc., counts). minimum probably significantly less. gets you in on oversubscribed IPO's and shit too. have a person who literally's job it is to wait for you to call. manages like you and 3-4 other people that's it.
 


ayzo said:
Bankers > affiliates
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yep, wall st rules the world. really. love it too. long live capitalism.

the rules are the same though for everyone -- "get money, get paid" is just "procure financial compensation" in wall st terms, that's all ;)
 
Get a bank account at a local credit union. Mine hardly has any fees for anything. You'll still need to pay the network fee though.
 
It sounds like a lot of the Americans over here are a little spoilt. For international players bank fees are standard. If I was to add up all the bank fees i've paid in the past 5 years I could probably put down for a second house.
 
Some of you guys need to grow a pair and tell your AMs you would very much appreciate it if they took care of the wire fees for you. Most will. Theyre not going to go around promoting it and volunteering it, but if you're loyal and making good $ they will. Try and always remember they want your business, they're like a casino host, and willing to give perks if you're earning it.

There are a few networks we work with that only do wires for INTL pubs, so we ask them politely to fedex a check overnight. Just as good as a wire IMO to have your friendly FedEx man banging on your door 9:30am the next morning with the goods.
 
Roundabout said:
Just as good as a wire IMO to have your friendly FedEx man banging on your door 9:30am the next morning with the goods.
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Not for people who don't want to be woken up that early. Better to wake up at 11 on Thursday to see friendly wires penetrating my bank account.
 
Spliffic said:
Ya I'm getting raped on fees too. Not only does the network take $20 off your wire, my bank also charges me $14 per incoming wire. So if you're being paid by 3 networks a week, do the math and you're getting bent over.

My bank wants me to keep $100K in my account in order to receive a $4 reduction in fees (i.e. $10 instead of $14). Pretty fucking retarded if you ask me. If I did 3 wires a week over a year, I would save a measly $576. Yet if I invest $100K at a low interest 1%, I would be way farther ahead. But obviously the bank makes a shittonne more than 1%. Fucking crooks.
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change your bank
 
Charles Scwab has free incoming wires for all accounts I believe. Bank of America has free incoming if you keep 25k+ in your business checking and outbound wires are $25.

Wire fees are a waste of money and can add up fast. 3-5 network wires a week at 10-25 a pop, I would always be concerned with that no matter how much I was making.
 
I hate to state the obvious but why not take the networks that you have a long history with getting paid and drop your wires on them down to bimonthly or something?
 
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