Hello all,
My new hedge fund was recently approved, and I've hired NAV consulting for the administration. In order to use NAVs dual account control service, NAV says that all transactions including small amounts, and the monthly NAV service fees, must be made as wire transfers. They didn't explain why but I'm sure they have their reasons.
The bank I was previously using requires an in person trip to a branch, and a $25 fee, for every single wire transfer, regardless of how big or small the wire is. So my question is, which bank companies are other pooled investment managers using, that have the capability of requesting large outgoing wire transfers from a webpage, or via some other convenient method? (A smaller per-wire fee would be an additional bonus.)
How to conveniently initiate wires may seem like a simple question, but I have not had a high need for wire transfers before working with the hedge fund. In the movies, people are always wiring money using only their computer. I'm hoping there is some analog to that in real life.
-Jay77
My new hedge fund was recently approved, and I've hired NAV consulting for the administration. In order to use NAVs dual account control service, NAV says that all transactions including small amounts, and the monthly NAV service fees, must be made as wire transfers. They didn't explain why but I'm sure they have their reasons.
The bank I was previously using requires an in person trip to a branch, and a $25 fee, for every single wire transfer, regardless of how big or small the wire is. So my question is, which bank companies are other pooled investment managers using, that have the capability of requesting large outgoing wire transfers from a webpage, or via some other convenient method? (A smaller per-wire fee would be an additional bonus.)
How to conveniently initiate wires may seem like a simple question, but I have not had a high need for wire transfers before working with the hedge fund. In the movies, people are always wiring money using only their computer. I'm hoping there is some analog to that in real life.
-Jay77
