Buying a home often feels like a sprint toward the finish line, and the wire transfer usually marks one of the final steps. That single payment can move hundreds of thousands of dollars in minutes, but one small mistake can bring everything to a screeching halt or, even worse, send money to the wrong place.
A little preparation goes a surprisingly long way. These eight common wire transfer mistakes can slow down a home purchase or any large payment, and they are much easier to avoid than they are to fix. Financial institutions also follow different processing deadlines and verification requirements, so timing and procedures can vary from one bank or credit union to another.
