I keep hearing on both wire transfers and telegraphic transfers, but I'm not totally clear on what they mean and how they work pretty much. Could you describe the key distinctions?
I understand that telegraphic transfers are generally more established, but does that automatically make them faster or cheaper than a wire transfer?
What's the typical speed of a telegram versus a wire transfer - can you give me some rough estimates?
Are there any distinct demands or restrictions on sending money via telegraphic transfers when compared to more methods like wire transfers?
Do you consider the fees associated with each procedure vary significantly based on the recipient's bank or the sender's bank?
Could you elaborate on the role of 'bank guarantee' in either system - what does that signify and how does it hit the process?
I note some discrepancies in fee structures between different providers. How do those variations influence the conclusive cost for sending money internationally?
Are there any tools or platforms that can help m'easily examine the fees of distinct wire transfer and telegraphic transfer options?
Eventually, could you explain the concept of 'settlement time' - when truly does the funds actually arrive right after a wire transfer or telegraphic transfer is completed?
Thanx for this helpful breakdown!