The Wire Transfers

Wire transfers are a method of electronically transferring funds from one bank account to another, often used for domestic and international transactions. They allow individuals and businesses to send money quickly and securely, typically requiring the sender's bank to communicate with the recipient's bank through a network like SWIFT or Fedwire. Wire transfers usually involve fees and may take a few hours to several days, depending on the banks and countries involved. This process is favored for its efficiency compared to traditional checks, which can take longer to clear.