PSU4Life

Excuse the retarded question, but can someone explain the difference between a direct deposit and a wire transfer.

I know Hydra, MaxBounty, and Azoogle give direct deposits and don't charge anything. But when I asked CPA Empire and Neverblue for a direct deposit they said they could do a wire but there would be a $30 or $25 fee. Why don't CPA Empire and Neverblue just do direct deposits like the other networks? Or is a direct deposit the same thing as a wire transfer and Hyrda, MaxBounty, and Azoogle just eat the fees?

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subigo

Basically a wire transfer is instant, that's why there is a fee. It goes from a bank to a bank, with no middleman.

A direct deposit is an ACH (Automated Clearing House) and it has to be processed by the NACHA... which is why an EFT or direct deposit takes a few days.

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subigo

BTW... if they are charging you a $25 fee to do a wire transfer, they are screwing you. It normally costs about $10 to do a wire transfer.

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PSU4Life

Thanks for clearing that up...makes sense now.

Although what would cause CPA Empire and Neverblue to not do direct deposits. Is there a lesser fee for them or something they don't want to pay?

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subigo

They are either one or all of the following:

1. Too lazy to set up an account with the NACHA
2. They haven't bothered looking into it
3. They are making money by charging people $25-30 to do a wire transfer and don't want to stop

It would take them just a couple of days to set up an account that could do this... if they are reading this post, how about going here and doing it?

Hell, it's cheaper than issuing paper checks once you get set up. It would probably end up saving them money.

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beejeebers

This thread is number two for bank wire versus direct deposit.

bank wire versus direct deposit - Google Search

I think Google loves this place.

subigo

Wow... make that #1. lol

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productionhead

yes because "bank wire versus direct deposit" is a very competitive term ...

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jelf

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kingfish

yeah google loves wicked fire lol, someone's been SEOing this place like mad

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tob

If you do enough volume, they should be waiving the wire fee - if you don't do enough volume, you shouldn't be getting wires.

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