Bank Wire

AAA

DEFINITION of 'Bank Wire'

An electronic message system allowing major banks to communicate various actions or occurrences regarding client accounts. The wire represents a secure computerized messaging system that sends account information, notifications and transaction requests between banks.

INVESTOPEDIA EXPLAINS 'Bank Wire'

While the bank wire does not affect actual transfer payments, such as a wire transfer, it will provide the financial institutions with knowledge of such events. For example, the purpose of a bank wire would be to notify a bank if a client has deposited funds into its account.

RELATED TERMS
  1. Wire House

    An archaic term used to describe a broker-dealer. Modern-day ...
  2. Wire Fate Item

    An archaic term that refers to a request made by a bank when ...
  3. Bank Fees

    Many banks charge nominal fees for various services, such as ...
  4. Wire House Broker

    A non-independent broker working for a wire house firm, or a ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. Wire Transfer

    An electronic transfer of funds across a network administered ...
Related Articles
  1. The Ins And Outs Of Bank Fees
    Options & Futures

    The Ins And Outs Of Bank Fees

  2. Your First Checking Account
    Insurance

    Your First Checking Account

  3. Scoring A High-Paying Job In The Banking ...
    Professionals

    Scoring A High-Paying Job In The Banking ...

  4. An Investor's Guide To Bank Stress-Testing
    Investing Basics

    An Investor's Guide To Bank Stress-Testing

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center