SO, given how astoundingly insecure wire transfers are, and there’s a perfectly acceptable alternative in ACH, why are they still used in closing? We just got our final instructions and they’re insisting on a wire transfer. Is this just a chance for the law firm to stick their fingers into the tasty money pie, or is there some legit reason?
(in our case it seems particularly dumb since we bank with the same institution that is lending, so we’ll be effectively wiring closing costs from one account in the bank to another one, with a law firm in the middle. but maybe I’m missing something here?)