Quote:
Originally Posted by AGame18
Hi noob here with a few questions
Could someone explain to me the difference between a bank wire and a bank transfer?
Could someone explain to me the difference between a bank wire and a premium bank wire?
Is there anyway to get your maximum bank wire or transfer or premium wire increased?
I'm no expert by any means, so someone please correct me if I'm wrong, or feel free to add additional information. But here's my general understanding:
There are four different methods of electronically withdrawing money from Full Tilt that I'm aware of. They are:
"Bank Transfer"
"Bank Wire"
"Premium Bank Wire"
"Wire Transfer"
Those names aren't my terminology; those are the official names that Full Tilt gives to the different methods.
A
Bank Transfer, I believe, is a type of ACH or "automated clearing house" transfer. It is similar to direct deposit.
Bank Wire and
Premium Bank Wire are, well, methods of wiring money from an outside account into your account. I do not know what the technical differences are between monetary wires and ACHs/direct deposits. I do know that, on Full Tilt, both
Bank Wire and
Premium Bank Wire have higher withdrawal limits, and seem to be processed more quickly, than
Bank Transfers. But the wires carry fees, whereas
Bank Transfers do not.
I have no idea what the difference is between
Bank Wire and
Premium Bank Wire, and I do not understand why Tilt offers both as separate options. In my cashier, the limits for
Premium Bank Wire are min. $250 up to a max of $5,000, whereas the limits for
Bank Wire are min. $1,500 up to a max of $10,000. But other posters apparently have different limits for those two methods than I do.
Which brings me to the final method, which is known as
Wire Transfer. As far as I know, you have to e-mail Full Tilt in order to get this option, and it's generally used for withdrawing amounts larger than the usual limits. But I've never tried to get
Wire Transfer, so I don't know anything more about it.
Can anyone confirm / elaborate / correct any of this?
Last edited by Damon Rutherford; 01-06-2010 at 05:54 PM.