Wire Transfers Explained: How They Work, Fees, and Fraud Risks

A wire transfer is a fast, secure way to send money directly from one bank to another, typically the same day for domestic transfers. In this episode, Ryan explains when wire transfers make sense versus a standard ACH transfer, what fees to expect, and why the irreversibility of a wire matters.The risk Ryan spends the most time on is wire fraud. Once a wire is sent, it cannot be recalled. Scammers specifically exploit this in real estate transactions and other high-dollar situations by impersonating title companies or lenders. Ryan and Aaron walk through what to watch for and how to verify instructions before sending any large amount.Find "Your Fiscal Physical" the book on AmazonIf you have suggestions or feedback, please email us at: [email protected], as always, Stay the Course!