Money transfers still a pain in 2008
So I am investing in a small real estate project and I need to transfer 5 figures to the project bank account. Now this should be really simple. I have an account at the same bank and the project’s account, but I am not the originator of the project, so the bank will not let me link to the account.
My options then become to do a wire transfer or write a check and mail it. A wire transfer cost me $25 to send and $12 to receive to move money at the same bank. So I am going to send a check.
This is a little ridiculous, because anyone who has played poker online knows that money can easily be transferred online. Or could, until some law was passed to make it difficult for online money transfers with a US resident as one of the participants.