Bills are due and you need access to cash. What’s more important, getting it free or getting it now? That’s the main difference between wire transfer and direct deposit.

This article takes a look at wire transfer vs. direct deposit for sending and receiving money. Let’s start by examining the process of each one first. Then we’ll look at the pros and cons of both methods for sending and receiving money.

Wire Transfer vs. Direct Deposit

With both wire transfer and direct deposit, money gets transferred electronically between sender and recipient bank accounts. To give direct deposit or wire transfer funds, exchanging actual cash isn’t necessary. Instead, the sending and receiving business entities exchange their clients’ routing and bank account information needed to pass money from payer to payee.

An exception to the “no cash” rule is non-bank wire transfers, such as those managed by Western Union. You can still transfer non-bank funds directly into a bank account. Or, the payee can pick up the wired cash at a retail agent location.

Many people ask, ”Is wire transfer faster or direct deposit?”. Let’s take a look and you decide:

  • Wire transfers are occasional payments that could cost the sender and receiver a fee but allow for immediate deposit into the payee’s account
  • Direct deposits may take a day or two and are usually scheduled recurring payments transferred from sender to recipient free of charge

Deciding which method of electronic funds transfer is better depends on your needs as the payer and payee. For instance, if you need to send money to close a real estate deal, wire transfers are safe and happen quickly. Ask your real estate agent or closing attorney how to wire money so you don’t have to worry about a bank check.

Pros and Cons

Let’s recap wire transfers vs. direct deposits and list the important details of each one. Like most things in life, both have their advantages and disadvantages. You should always weigh the benefits and downsides of each method before settling on one.

Wire transfers are perfect for urgent payments sent from time to time, like when sending or receiving emergency funds.

Advantages of wire transfers:

  • Wired money transfers immediately
  • Funds transferred process is safely
  • Foreign currency transfers are allowed

Disadvantages of wire transfers:

  • Wire transfer fees could be high
  • Outgoing, incoming, and exchange markups fees incurred

Direct deposits are best for recurring payments, such as biweekly paychecks sent from employer to employee.

Advantages of direct deposits:

  • Free of charge
  • Easier to set up
  • Can be scheduled and recurring

Disadvantages of direct deposits:

  • Could take a few days to clear
  • Not suitable for foreign currency

Wire Transfer or Direct Deposit: Which Is Better?

Make certain to compare the pros and cons of wire transfer vs. direct deposit. Does the recipient need the money urgently or can they wait a few days? And remember, wire transfer is your best option when sending foreign currency internationally.

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You are excited to unbox your new iPhone say iPhone XS and the first thing that you want to do after that is to transfer all your WhatsApp messages from old iPhone to brand new iPhone.

Would you reset iPhone XS to factory settings (it will wipe out all your data) so that you can restore your WhatsApp from iCloud? Well, you don’t need to do so.

We have one solution that works great for your whatsapp transfer backup & restore needs. Yes, that’s true. With iSkysoft Toolbox- Restore Social App, you don’t need to think about other possible solutions that may or may not work remotely and effectively.

Of course, you wouldn’t want to compromise on data security and data loss while trying any of the other solutions. iSkysoft Toolbox – Restore Social App lets you transfer WhatsApp data from iPhone to iPhone without any data loss and selection based feature integrated in this tool lets you save a lot of time.

Let us go through step by step process to learn how to transfer your whatsapp data from iPhone to iPhone

Step 1. Download and install this tool- iSkysoft Toolbox on your PC. You can get the link to download it from the official site of iSkysoft. From your new iPhone log in to the WhatsApp account and this will display a list of different options offered by the software.

Step 2. In the window shown below, click the option that says – “Transfer WhatsApp messages” which is visible on top left corner on the screen. Make sure you attach old iPhone and new iPhone to your PC before you select the option – Transfer WhatsApp messages.

Step 3.  Now on your next window you will be able to see that your device is automatically recognized by the program. In case the source and destination device are not same then click- “Flip” to modify the selection. Once done to click – “Transfer” to proceed.

Step 4. As shown in the image below, you will find a pop up displayed on the screen as – “Login successfully.Continue” Just click on it. That’s the reason the earlier instructions asked you to sign in to your WhatsApp account (in step 1)

Step 5. Now you can see the transfer process for WhatsApp files taking place. Be patient, soon the message will flash saying – “transfer completed” once the transfer is successfully completed. Certainly, the time taken for file transfer will be based on the file size.

So, this is how iSkysoft Toolbox offers simple steps on how to transfer whatsapp from iphone to iphone so that you can transfer WhatsApp without having to rely on other methods like iTunes/iCloud.

iSkysoft Toolbox- Restore Social App offers simple and clean interface

The user-friendly interface lets you transfer all your documents, videos, messages, photos etc saved on WhatsApp without losing data from iPhone to iPhone. You can preview the WhatsApp data during the process so that you can choose to transfer only selective data you find important to be moved to new iPhone. You will find a simple and comprehensive how to guide to carry out the steps that are relatively easy. You don’t need to think about compatibility of iOS versions as the tool supports the latest versions of iOS devices. It not only lets you transfer WhatsApp data conveniently from old to new iPhone but also aids transfer of data for various other social apps like Viber, KIK, WeChat, LINE etc effectively. Irrespective of the file format, iSkysoft enables successful transfer of data across iOS and Android devices. So, anything you say it iSkysoft has it.

You don’t need to be technically sound to use iSkysoft and no complicated configurations involved in carrying out the transfer process. After transfer process is carried you will find all your WhatsApp data intact on your new iPhone. It is matter of few clicks and a successful transfer waits.


There are many solutions available that may or may not meet your WhatsApp transfer needs. If you do not want to invest time trying different methods then iSkysoft is a tried and tested method that is result oriented and secure. You will have a great experience with iSkysoft Toolbox as it solves all your problems related to backup, transfer and restore in a few clicks.