Main FAQ Wire transfers on Beaxy

Here at Beaxy we have a lot of exciting new features coming out shortly. One of which is our new fiat capabilities. We’ll soon be accepting USD, GBP, AUD, JPY, EUR, CAD and there will be trading pairs on the platform for each fiat currency with BTC, ETH and our native token BXY. Each bank has a slightly different procedure for sending wires and so we’ve compiled this list to make the process as simple as possible.

To initiate a wire transfer deposit, you will need to enter the bank details of our US Trust partner, Prime Trust, into your bank’s online wire transfer portal. Please note that some banks do not have an online portal for wire transfers. In these cases, you will need to call your bank to provide the wire details. Search for your bank in this article for more details, if they require a phone call, the number will be provided below.  

Sending a wire is similar to sending bitcoin, enter the recipient’s information (address) and click submit! To retrieve our US Trust partner’s bank details, begin by completing their KYC. Next, navigate to the Deposit Fiat tab in your Beaxy account and click Deposit Fiat. You will see all of the details you need to enter into your bank’s wire portal presented like the below image.

Wire transfers on Beaxy

Sending a Wire to Beaxy

Every bank has their own unique methods for sending and receiving wire transfers. To help you along this process, we have listed the top US banks below along with information that will make sending a wire with your specific bank even easier. 

JP Morgan Chase

JP Morgan Chase have a very simple and clear description of how to process wire transfers available at the link below. The process starts with adding the recipient in question through the dropdown tab ‘Pay & Transfer’, then go to ‘Wire money’. There you’ll find the option to add a recipient. Then enter all the relevant banking details for your recipient like Bank country and Bank routing number. Once that recipient has been made, you’ll need to ‘Schedule wire’. You also have the ability to send a recurring wire which you can send as often as you’d like.

After the wire has been scheduled, you’ll receive a confirmation message and also an email alert. To edit a wire that’s been scheduled, go to ‘wire activity’ and you’ll have the option to edit or cancel an ongoing wire.

Easy guide: https://www.chase.com/content/dam/chase-ux/documents/commercial-banking/chase-connect/cc_quickguide_wire_transfers.pdf

Begin the process of sending a wire by logging in at:  https://www.chase.com/digital/sign-in-wires

You can also speak to JP Morgan Chase on: 1 (855) 893-2223 

Bank of America

It appears that Bank of America charges different fees for different ZIP codes so your results may vary from what is discussed here. Once you’re logged in, find the transfers tab and under ‘send money to someone’ there will be an option for ‘Using a wire’. To make a transfer enter all the relevant details (depending on who you’re sending money to, you may need to add a new recipient). The rest is quite self explanatory. 

For more information and questions, Bank of America have an FAQ page: https://www.bankofamerica.com/deposits/wire-transfers-faqs/#:~:text=You%20can%20Sign%20in%20to,Bank%20of%20America%20financial%20center.&text=Yes%2C%20someone%20with
%20your%20account,your%20Bank%20of%20America%20account.

Begin the process of sending a wire by logging in at: https://www.bankofamerica.com/

You can also speak to Bank of America on: 1 (800) 432-1000

Citigroup

Citigroup offers wire transfers with varying prices depending on what type of account you have and where you’re sending money to. With a ‘Citi Priority’ a wire transfer costs $17.50 but with other accounts it’s roughly $25. Private clients have their fees waived. Wire transfer can be sent from checking accounts or savings accounts. To start the process go to the transfers tab. Find out the details needed from who you’d like to send the money to and then add them as a recipient and then you’re ready to send a wire.

Begin the process of sending a wire by logging in at: https://online.citi.com/US/JRS/pands/detail.do?ID=WireTransfers

You can also speak to Citigroup on: 1 (800)-374-9700

Wells Fargo

With a Wells Fargo account you can send wire transfer easily by going to the Transfer & Pay tab and then ‘enroll in online wire transfers’. Recipient details are needed so make sure you have details to hand. Once you have those details, go to the ‘Wire Money’ page and select ‘Add recipient’ Then enter the funding account and the amount you’d like to send. Do a final review of your payment and then send. Fees are disclosed just before the transfer is sent.

Begin the process of sending a wire by logging in at: https://www.wellsfargo.com/online-banking/wires/

You can also speak to Wells Fargo on: 1-800-869-3557

Morgan Stanley

Morgan Stanley have put together an easy and user friendly guide for how to make Online Transfers. The link is below and should be consulted for further details. It provides a clear guide for how to send transfers to external accounts.

https://advisor.morganstanley.com/the-park-bay-group/documents/field/p/pa/park-bay-group/Morgan_Stanley_Online_Transfers___Online_and_Mobile_App_Setup.pdf

Begin the process of sending a wire by logging in at: https://login.morganstanleyclientserv.com/ux/

You can also speak to Morgan Stanley on: 1-(888)-454-3965

PNC Financial Services

PNC Financial Services requires that you make wire transfers over the phone or in person at a bank branch. When you do so, make sure you have all the relevant details available for your recipient.

You can also speak to PNC Financial Services on: 1-(888)-762-2265

Capital One

Capital One has a simple set of instructions for setting up a wire transfer. Firstly, sign into your account at the link below. Click on the account from which you like to send funds from. Click on ‘Account Services & Settings’ and then click on ‘Wire Money’ to begin the procedure. Like other banking options you will need to have the recipients details and create a brief profile for them. 

Begin the process of sending a wire by logging in at:  https://verified.capitalone.com/auth/signin

You can also speak to Capital One on: 1-(888)-464-0727

TIAA

Under the FAQs (linked below) you can find a section that says ‘How do I send a wire transfer?’ Once you log  into your account, go to the ‘Service’ tab and choose to ‘Request a wire transfer’. Like all wires, there’s a cut off time for when you must send wire transfers from. 

FAQs: https://www.tiaabank.com/support/online-banking-faqs

Begin the process of sending a wire by logging in at: https://www.tiaabank.com/banking/online-banking

You can also speak to TIAA on: 1-(888)-882-3827

Charles Schwab Corporation

The Charles Schwab Corporation requires wire transfers to be made in person or via the phone. Make sure you have all the details for the recipient so that your call can run smoothly. 

You can also speak to Charles Schwab Corporation on: 1-(602)-355-3426

Ally Financial

You’ll need to fill in the Ally Domestic Wire Transfer Request Form online. The completed form can be provided to any Ally Bank branch as well. Just like any other wire transfer there is a fee attached but if the transfer is to another Ally account the fee is reimbursed. Ally often phones you to verify your request. Ally don’t allow international wire transfers.

Begin the process of sending a wire by logging in at:  https://www.ally.com/

You can also speak to Ally Financial on: 1-(877)-247-2559

USAA

USAA allows domestic and international wire transfers. Some larger transfers of over $10,000 require phone call verification. Sending a wire is much like any other bank and will require full recipient details include ZIP Code, routing number and account number. Domestic transfers cost $20 and international wire fees are $25.

Begin the process of sending a wire by logging in at: https://www.usaa.com/inet/ent_logon/Logon?logoffjump=true&akfixed=true

You can also speak to USAA on: 1-(800)-531-8722