Wow. At that cost, I assume American banks must be using a combination of telegraphs and the Pony Express to settle their wire transfers.
"You see, sending money across state lines is not easy. There needs to be insurance in case wild natives attack and steal the leather bag containing those money orders... It's only fair that we pass that cost on to the customer."
You're joking, but when I did a wire transfer it failed the first time and I had to call my bank and give them extra information over the phone, including the street address of the branch where the destination account lives. Considering how much labor went into it, I understand why they charged me $30.
"You see, sending money across state lines is not easy. There needs to be insurance in case wild natives attack and steal the leather bag containing those money orders... It's only fair that we pass that cost on to the customer."
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