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| I believe that 80% of any wire transfers coming in or going out of the US pass through the Bank of New York. | |
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I thought international wire transfers go through FedWire, through the
Federal Reserve.
http://en.wikipedia.org/wiki/Fedwire
The Fed charges banks $75 per month for the right to participate in the FedWire system, plus transaction fee of between .19 and .30 cents per
transfer. And then the US banks pass on the incoming wire transfer fee
to their customers, at a rate of $15-25.
I think it's the Federal Bank of New York, not Bank of NY the wires pass through.