Wire Transfer

AAA

DEFINITION of 'Wire Transfer'

An electronic transfer of funds across a network administered by hundreds of banks around the world. Wire transfers allow for individualized transfer of funds from single individuals or entities to other individuals or entities, while still maintaining efficiencies of fast and secure movement of funds.

INVESTOPEDIA EXPLAINS 'Wire Transfer'

Wire transfers allow people in different geographic locations to easily transfer money to locales and financial institutions around the globe. For providing the service, banks will collect a fee, sometimes based upon the size of the transfer being made. Outside of North America, wire transfers are sometimes referred to as a 'telegraphic transfer' or t/t.

RELATED TERMS
  1. Electronic Funds Transfer Act

    A federal law that protects consumers engaged in the transfer ...
  2. Cash Management

    The corporate process of collecting, managing and (short-term) ...
  3. Telegraphic Transfer - TT

    An electronic method of transferring funds. Telegraphic Transfers ...
  4. Checking Account

    A transactional deposit account held at a financial institution ...
  5. Electronic Check

    A form of payment made via the internet that is designed to perform ...
  6. Routing Transit Number - RTN

    A nine-digit numerical code used to identify a banking or other ...
RELATED FAQS
  1. What methods can be used to fund a forex account?

    The forex market is where currencies from around the world are traded. In the past, currency trading was limited to certain ... Read Full Answer >>
  2. What techniques are most useful for hedging exposure to the banking sector?

    The banking sector moves in the same direction as the broader market, but its volatility is much lower. The sector's stability ... Read Full Answer >>
  3. Why do banks used the Five Cs of Credit?

    Banks use rigorous policies and analyses when determining if and how much money to lend to clients. The methods used by banks ... Read Full Answer >>
  4. Is the banking sector a good choice for value investing?

    The banking sector is a good choice for value investing. Value investors look for stocks in which the market price does not ... Read Full Answer >>
  5. What are the Basel III rules, and how does it impact my bank investments?

    The Basel III rules are a regulatory framework designed to strengthen financial institutions by placing guidelines pertaining ... Read Full Answer >>
  6. Is there a difference in risk between the different regions of the U.S. banks?

    There is a considerable difference in risk between different regions of the U.S. banks. Due to various economies of scale, ... Read Full Answer >>
Related Articles
  1. Insurance

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  2. Savings

    All About Banking

    This tutorial will tell you everything you need to know about how checking and savings accounts work.
  3. Credit & Loans

    The Pros & Cons Of Personal Loans vs. Credit Cards

    One is not like the other. We help you decide where to borrow money from.
  4. Stock Analysis

    What Makes Goldman Sachs a Good Bet?

    Six years after the subprime meltdown, Goldman Sachs is a robust $87 billion company instead of a historical footnote. Here's why.
  5. Economics

    What is a Nostro Account?

    A nostro account is a bank account held in a foreign country by a domestic bank, denominated in the currency of that country.
  6. Budgeting

    Should You Pay Your Bills On Autopilot?

    Now that you can sign up to have your bills paid automatically online, it it a smart way to make your life more efficient? A look at the pros and cons.
  7. Economics

    Does The US Fear The Asian Infrastructure Investment Bank?

    The AIIB has the U.S. fearful of their decreasing influence in both developing economies and the world economy.
  8. Economics

    A Risky Maneuver To Jumpstart Japan's Economy

    Japan's government and the Bank of Japan are buying large amounts of government bonds in an effort to spark economic activity, but there are great risks.
  9. Personal Finance

    Which Will Be the Better Bet: eBay or PayPal?

    eBay hasn't spun-off PayPal justyet, but when that day comes (and thereafter), should you choose eBay or PayPal?
  10. Personal Finance

    4 Tips To Cut Your Monthly Bank Fees

    We asked banking professions to share their biggest tips for tackling bank fees, and hopefully save more even before spring hits.

You May Also Like

Hot Definitions
  1. Fixed-Income Arbitrage

    An investment strategy that attempts to profit from arbitrage opportunities in interest rate securities. When using a fixed-income ...
  2. Venture-Capital-Backed IPO

    The selling to the public of shares in a company that has previously been funded primarily by private investors. The alternative ...
  3. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  4. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
  5. Unsystematic Risk

    Company or industry specific risk that is inherent in each investment. The amount of unsystematic risk can be reduced through ...
  6. Security Market Line - SML

    A line that graphs the systematic, or market, risk versus return of the whole market at a certain time and shows all risky ...
Trading Center