Checking broker fine print before a wire transfer saved me $450

I almost sent a big deposit to a broker in Ohio last Tuesday without reading their fee schedule. They charge 2% just for incoming wires, which would've been $450 on my $22,500 transfer. I tried asking their support chat to waive it but they said no. So I switched to a local brokerage that does free ACH transfers, took two extra days but worth it. Anyone else get hit with hidden wire fees from their broker before the first trade?

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david_adams1mo ago

A 2% incoming wire fee is steep but not really hidden if it's in their fee schedule. You just didn't read it before sending, which happens to everyone at some point. Paying $450 to learn you should check the fee page first is a cheap lesson, and you still got your money moved two days later. Most brokers pull this stuff, so switching to save $450 once does not mean much if the new place charges you somewhere else down the line.

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