ABACUS FINANCIAL GROUP INC SWIFT CODE
ABFGUS41 – ABACUS FINANCIAL GROUP, INC.
This SWIFT code is inactive.
| SWIFT CODE | ABFGUS41 |
|---|---|
| BANK | ABACUS FINANCIAL GROUP, INC. |
| ADDRESS | 10 SOUTH WAKER DR, SUITE 2175 |
| CITY | CHICAGO |
| BRANCH | |
| POSTCODE | 60606 |
| COUNTRY | United States |
Abacus Financial Group: International Money Transfers with Wise
Overview of ABACUS Financial Group
Abacus Financial Group, Inc. (ABFG) is a Chicago-based provider of financial services including banking, investments, insurance, and money transfers. With over $2 billion in assets under management, ABFG serves both individual and business clients across the United States.
Products and Services Offered
Abacus offers a full range of banking and wealth management solutions including checking/savings accounts, lending, retirement planning, portfolio management, and more. They also facilitate domestic and international wire transfers through their money transfer service.
Locations Served
While headquartered in Chicago, ABFG has account holders located nationwide. They focus on serving the needs of Midwest-based clients in particular.
SWIFT Code and Identification Details
What is a SWIFT Code?
A SWIFT code is an 8-11 character code that identifies the bank and branch where an account is held. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. SWIFT codes are used to send money quickly and securely around the world.
SWIFT Code ABFGUS41
All international money transfers conducted via Abacus Financial Group carry the SWIFT code ABFGUS41. This code serves as a unique identifier to route funds to the correct institution.
Bank Name and Address
Abacus Financial Group, Inc.
10 South Waker Dr, Suite 2175 Chicago, IL 60606
Breakdown of the SWIFT Code
Let’s examine the components that make up this SWIFT code:
- ABFG – Bank Code
- US – Country Code
- 41 – Location Code
- XXX – Branch Code
Benefits of Using Wise for Money Transfers
Lower Fees Compared to Banks
By leveraging the latest technology, Wise provides international money transfer services at a fraction of the typical banking fees. You can save up to 8% on international transfers versus large financial institutions.
Faster Transfer Times
In addition to lower fees, Wise utilizes smart technology to optimize global payment routes. This ensures your money arrives as quickly as possible. Payments typically settle in 1-3 business days.
Easy to Send and Receive Money Globally
The user-friendly Wise platform makes sending funds abroad straightforward. Recipients also benefit from free, fast ways to receive Wise payments into their local or foreign accounts.
Sending Money Abroad with Wise
Step-by-Step Process
Here is how you conduct an international money transfer with Wise:
- Sign up for a free Wise account
- Verify your identity
- Choose the source currency, recipient country, and amount to send
- Select your payout method – bank deposit or cash pickup
- Enter the recipient’s details
- Make the domestic transfer to fund your Wise wallet
- Wise converts then sends the money abroad
Supported Currencies and Countries
Wise allows money transfers in over 70 currencies to more than 80 countries worldwide. Most global currencies are supported including USD, EUR, GBP, AUD, and CAD.
Price Comparison
Banks typically charge expensive fees and hide poor exchange rates within their quoted rates. In contrast, Wise provides upfront transparency around fees and locks in the mid-market exchange rate.
Receiving International Payments with Wise
How Incoming Payments Work
Receiving money globally into your U.S.-based accounts with Wise simply requires:
- Sharing your chosen USD account details with the sender
- Having the sender conduct a transfer through their Wise account to your details
- Monitoring your Wise dashboard for status updates
Tracking Payments
One advantage with Wise is easy payment tracking. You receive email notifications on status changes. Simply log in to observe every transfer detail including amount to be received and settlement estimates.
Exchange Rate Guarantees
A key benefit with Wise is their guaranteed exchange rates on all transfers. The mid-market rate at the time of transfer is locked in, protecting you from any rate fluctuations later.
Conclusion
Summary of Key Points
To recap, Abacus Financial Group supports international money transfers via their ABFGUS41 SWIFT code. Wise facilitates these global payments at lower costs and faster speeds compared to traditional wire services. Their online platform also makes Wise highly convenient for sending and receiving funds worldwide.
Final Recommendations
Given the expense and frustrations often associated with international wires, we strongly recommend utilising Wise for any cross-border money transfers conducted via Abacus Financial Group or other institutions. Sign up for a free Wise account to enjoy simpler, cheaper transfers across 80+ countries today.
FAQs
What is Abacus Financial Group?
Abacus Financial Group is an investment management and advisory firm catering to wealthy individuals and institutional clients. They are based in Chicago, USA.
Where is Abacus Financial Group located?
The headquarters and main office of Abacus Financial Group is located at 10 South Waker Drive, Suite 2175, Chicago, IL 60606.
What currencies does Abacus Financial Group support?
Abacus Financial Group primarily supports USD transfers given their specialization in U.S. investment markets.
Does Abacus Financial Group charge fees for international transfers?
Yes, Abacus will typically charge sender and receiver fees for processing international wire transfers.
How do I contact Abacus Financial Group?
You can contact Abacus Financial Group by phone on +1 (312) 836-6739 or by emailing [email protected].
Does Wise have transfer limits?
Yes, Wise enforces limits on international transfers based on account verification level and recipient country regulations. Most personal account holders can transact several thousand dollars at once.
What identification is required?
Wise requires personal details like your name, date of birth, address and tax details. You must also provide a government ID such as passport, drivers license or US Social Security number.
How long do transfers take?
Most transfers reach their destination accounts within 1-3 business days. Deposits to some countries can take up to 5 days if additional processing is needed.
What are Wise’s fees?
Instead of hidden bank margins, Wise charges low, transparent fees that vary based on transfer corridor, currency and amount. Fees start from just 0.5% on USD transfers over $300.
Can Wise send money to every country?
While Wise covers over 80 countries, a small number are restricted for inbound transfers only. These include China, India, Pakistan, Philippines and others. Check their website for specifics.