What is Wire transfer?
The program sends money from its bank straight to your account. International wires usually go through the SWIFT system, payments in euros within Europe through SEPA.
Wires are safe and suit large amounts, but they are not free: the sending bank, intermediary banks and your own bank can each take a fee, and currency conversion adds another cost. That is why programs often set a higher minimum payout for wire than for e-wallets.
To receive a wire you give the program your account holder name, IBAN or account number, the bank’s SWIFT/BIC code and address. A mistake in these details can delay the payment for weeks.
