Obc Statement - Minimum Balance Needs & Wire Transfers

[PabloLincoln]

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.

[LelandGatlin]

How does the Oracle statement system manage minimum balances when installing wire transfers? Are there any fees associated with exceeding the minimum?

[CristianCasen]

What's the procedure for verifying the recipient's account details and ensuring they meet the minimum balance requirement before initiating a wire transfer?

[JamisonRey]

Could you elaborate on how this minimum balance is calculated and what impact it has on the transfer velocity or fees involved?