Wire payments are the fastest and surest method of sending funds internationally. In short, if you need it there or here now, wire transfers are the way to go. Wires can reach almost any foreign destination within two business days.
Wire service from Columbia Bank offers the following benefits:
When U.S. dollar wires are sent overseas to a non-U.S. dollar account, the receiving bank applies the exchange rate of their choice. Consequently, the final amount credited to your beneficiary may be considerably less than the amount you intended. By telling your banking officer that you want to send a local currency wire, you will know the exchange rate up front.
Additionally, wire transfers sent in the local currency move through clearing systems faster because they are treated as "local" items not requiring special attention. This means the money will be credited to the beneficiary's account faster, which is important if they are waiting on the funds.
When you receive a wire transfer of foreign funds through Columbia Bank, we convert the funds into U.S. dollars and credit your account automatically.
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