Transfer $100,000 from Houston to Chicago. If you mail a check, it will cost $2.50 for postage and clearing the check, and it will take a total of five days for the funds to be transferred. during this time you will not be earning interest which is currently 2.5 APY. however, by sending a wire transfer that costs $25.00, the funds will instantly transfer with no float. how much does the wire transfer save you compared to the cost of having the check mailed?

Answer rating: 100% (QA)

To determine the savings that result from choosing a wire transfer over mailing a check we first nee... View the full answer