Wire Transfer Services Meaning

Usually if someone asks for a bank wire they want a traditional domestic bank to bank transfer. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office. A wire transfer is an electronic transfer of funds via a network that is administered by hundreds of banks and transfer service agencies around the world.

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Wire Transfer Definition

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Wire transfers are known for their speed and are often used for same day service but they can sometimes take longer to complete.

Wire transfer services meaning.

A transfer agent is a trust company bank or similar financial institution assigned by a corporation to maintain records of investors and account balances. The transfer can also be made in cash at. A wire transfer describes any electronic transfer of money. Wire transfer definition is a transfer of funds as from one bank account to another by electronic or formerly by telegraphic means.

The transfer agent. Wire transfer bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another. An electronic payment using a money transfer service such as western union which might use somebody s bank account the exact process will depend on which type of transfer you use but the wire transfer process as defined here concerns a bank to bank or credit union transfer of money. With an international wire transfer for instance it may take.

This definition is why a wire transfer is sometimes called a. A traditional money wire goes from one bank to another using a network such as the society for worldwide interbank financial telecommunication swift or fedwire. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost. How to use wire transfer in a sentence.

More specifically a wire transfer is an electronic transfer of funds from a bank or credit union to another bank or credit union.