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. Electronic Check

    A form of payment made via the internet that is designed to perform ...
  5. Checking Account

    A transactional deposit account held at a financial institution ...
  6. Routing Transit Number - RTN

    A nine-digit numerical code used to identify a banking or other ...
RELATED FAQS
  1. What are the warning signs of online hotel / travel booking scams?

    Travel booking scams ask travelers to book a vacation stay at a residential rental property that is fake or that belongs ... Read Full Answer >>
  2. 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 >>
  3. How do I obtain a banker's acceptance?

    Banker's acceptances act like time drafts. They can be created as letters of credit, documentary drafts and other financial ... Read Full Answer >>
  4. Which industries tend to have the greatest EBITDA margins?

    High profit margins can only be attained if cost structure is low relative to revenue. Pricing power is usually the key to ... Read Full Answer >>
  5. What's the difference between the coverage ratio and the liquidity coverage ratio?

    Investors and analysts use coverage ratios to determine a company's ability to meet its financial obligations. The liquidity ... Read Full Answer >>
  6. What is the difference between a Nostro and a Vostro account?

    Nostro and vostro are simply two different names, or terms, used to describe the same bank account. The terms are used when ... 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. Economics

    Explaining Risk-Weighted Assets

    Risk-weighted assets is a banking term that refers to a method of measuring the risk inherent in a bank’s assets, which is typically its loan portfolio.
  4. Economics

    Understanding Term Loans

    A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate.
  5. Economics

    Explaining Tier 1 Capital

    Tier 1 capital refers to the core capital a bank must maintain in relation to its assets.
  6. Chart Advisor

    Trade Strong Trends in Financials with this ETF

    The strong move on the chart of the XBE ETF suggests that now could be the ideal time for traders to look for niche stocks to ride the upward momentum.
  7. Personal Finance

    What Skills Do You Need For An Investment Banking Job?

    Aspiring for the best paid investment banking jobs? Here is the list of top skills that investment banks look for in job candidates.
  8. Personal Finance

    5 Financial Tools You Can Throw Out The Window

    Bank deposit slip: what's that? Everyday tools of our financial life that went from indispensable to obsolete.
  9. Savings

    Understanding Savings Accounts

    A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.
  10. Personal Finance

    How The SWIFT System Works

    SWIFT has become the global standard for processing instructions and messages for payment and securities trade transactions. Investopedia explains what SWIFT is, how it works, how it makes money, ...

You May Also Like

Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  3. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
  4. Terminal Value - TV

    The value of a bond at maturity, or of an asset at a specified, future valuation date, taking into account factors such as ...
  5. Rule Of 70

    A way to estimate the number of years it takes for a certain variable to double. The rule of 70 states that in order to estimate ...
  6. Risk Premium

    The return in excess of the risk-free rate of return that an investment is expected to yield. An asset's risk premium is ...
Trading Center