With modern technology, many things are possible, including your
knife purchase. The reason I've created this page is that far too
frequently, when payment of knives is due, banks have difficulty
executing a bank transfer. This is not the fault of my clients, or their
favorite knife maker, but happens because bank tellers or officers are
not familiar with this operation. I assure you, the method is safe,
direct, and usually inexpensive, no matter what country the transfer
occurs in. It is, simply, a good way to pay for a knife!
- Bank Transfer or Zelle?
Zelle is a U.S.-based digital payments network. It handles the
transfer without fees, if both the sender and recipient is enrolled
in Zelle. Most US banks are Zelle-ready and this makes transfers
extremely fast, easy, and safe, since no exchange of bank
information is required. No bank account numbers are needed, no
routing or account information is exchanged, and Zelle is designed
to create fast easy, safe, and private transactions typically using
only a cell phone. If a client's
bank is enrolled in the Zelle system (most banks are or have this
available), it is the preferred way to accomplish the bank transfer
or wire. Even if the bank isn't enrolled, it's supported by Android
and iOS. I prefer to use Zelle when possible, and you
will too. All my client needs is
my email,
jayfisher@jayfisher.com, and he can wire the payment instantly,
using only his cell phone.
- What is a bank transfer? A bank transfer (also
called a wire transfer, or domestic or international wire) is a direct transfer of
funds from an account at one bank (the client's or customer's) to my
bank (the knife maker). It is a means of electronically moving money
between bank accounts, even if those accounts are in different banks
and in different countries.
- Why use a bank transfer? There are several reasons to use bank
transfers.
- International clients: For my clients that are not in the
United States of America, it is simply the best and easiest way
to pay for a knife, project, or purchase. This is because I
cannot accept international credit cards (due to identity theft
prevalent in these international credit card transactions), and
other methods may be slow expensive or unavailable. Western
Union is very fast, but it is quite expensive. I don't accept
checks or international money orders; this is a condition set by
my bank.
- The wire transfer is direct and fast. From my client's account to
my account, there is no paper exchanged, no waiting, and the
entire process takes place in the span of a business day or two
(depending on your location in the world).
- Payments can be made from a variety of sources. For
instance, you can use your credit card to pay for the transfer.
This way, you can still put the charge on your card, and the
payment is quick and secure.
- Banks are quite accurate and careful about how transfers are
conducted, and the specific location of the account and bank are
well-documented and traced through international banking
agreements. You'll see special codes and numbers that accompany
a transfer; these are well-established methods of tracking
payments from one institution to another. Nearly all countries
in the world use these, and this is how most businesses exchange
money for goods and services in the modern world.
- Exchange rates are accurate to the day of the transfer. When
you specify a bank transfer to pay me for your knife project,
and you specify it is in US dollars, the bank will accurately
calculate the exact amount for the day of the transfer. This
makes it simple and easy to do.
- How a bank transfer works: When a payment or purchase price
is due, I give you my information to accomplish the transfer. You
give this information to your bank along with the amount in US
dollars and they execute the transfer. The information I will give
you includes five things:
- The wire routing transit number: this is the number
that the banks use to route or direct the money between
institutions.
- The SWIFT Code: this is a business identifier code
created by the International Organization for Standardization
(the ISO) that is used when transferring money between banks.
- The Bank Name: This is the name of my bank.
- City, State: This is the city and state in my
country where my bank's home or corporate office is located. A
direct address is not necessary, only the city and state.
- My account number: This is the number of my bank
account that the funds will be transferred into.
- Account name: This is the name of my account; my
name.
- Domestic or International? The process and
information works both domestically (inside the United States of
America) or internationally (outside the United States of America).
I'll give you slightly different information depending on your
location. If you are in the US, Zelle is the preferred method to
accomplish the exchange.
-
What are some potential problems with this payment method? While
it is usually clear and simple, decades of selling knives and
receiving payments via bank transfer has taught me that there seems
to be two recurring issues:
-
The bank teller, officer, or agent does not know
what this is! Unfortunately, lower level bank
tellers and officers are not well trained, and they do not
normally encounter an international bank transfer, or
international wire transfer in their daily duties, so they are
often flummoxed and confused about their own role, method, or
job in doing this! I've seen it far too often: a bank transfer
is requested by my client, he contacts his local bank and they
don't know what he is talking about, so they ask him for
inappropriate information, are confused by the process, or
simply claim it can't be done. My client then writes me back
with this information, and I suggest that he contacts a senior
teller, officer, or agent at his bank. When he does, the
transfer is quickly and efficiently handled. This has happened
every single time, and literally in dozens of countries my
clients live and bank in. Any senior bank officer will know just
what to do. Once a client has been through this process, he
knows how and who to contact at his bank, and it never happens
again!
-
The bank may assess a fee and not disclose this to
you! Certain banks use intermediary banks to accomplish
the transfer, and those banks charge a fee. If your bank is not
aware of this, what happens is the fee is taken from the total
amount transferred. The result is that I am shorted on payment,
typically $20.00US to $40.00US. Some banks are tricky, getting
$20-$40 for no actual work whatever, as all of this is
accomplished electronically! If your bank does this, you need to
complain at the very least, and better yet, find a new bank as
they are spoiling the simple transactions of commerce by
allowing another bank to dip into your pocket (and mine!). The
reason that I don't accept this practice (and neither should
you) is because most banks do not do this; they
transfer the funds quickly, easily, and complete, so this is not
some impossible or far-reaching challenge. Though you may ask
and have the bank assure you that there is no additional fee,
the only way to know this is when I receive payment.
So, there it is. You can pay for your international or domestic knife
purchase with an international or domestic wire transfer; it's quick,
simple, and accurate. But you may have to train your teller and bank about the
process!
Zelle® is a wireless banking transfer system, and is US-based.
Most US banks participate in Zelle, and Zelle does not charge a fee for
its use. Even if a bank doesn't have Zelle, it is available on Android
and iOS cell phones.
Zelle doesn't require you to visit your bank, or even contact your
bank. We don't have to exchange any numbers or information whatever. Just enroll
in Zelle, and you'll be set up to directly transfer funds. Most
people do this on their cell phones.
To complete your purchase of a knife, enroll in Zelle, and you can
transfer the amount of your purchase directly into my account knowing only my email
address:
jayfisher@jayfisher.com. The payment is instant, and your knife can
be on the way the very next business day! Zelle is fast, private, and reliable.
Click on the
Zelle homepage
to learn more about this banking transfer system.
Thanks for being here and considering a Jay Fisher handmade knife!
