I'm trying to transfer funds via a wire from my Oracle account to a friend in the Philippines, and I need to realize the minimum balance requirements for the wire transfer.
How does the Oracle statement system manage minimum balances when installing wire transfers? Are there any fees associated with exceeding the minimum?
What's the procedure for verifying the recipient's account details and ensuring they meet the minimum balance requirement before initiating a wire transfer?
Could you elaborate on how this minimum balance is calculated and what impact it has on the transfer velocity or fees involved?