Definitions for Wire Transfer
wire trans·fer

WiktionaryRate this definition:0.0 / 0 votes

1. wire transfernoun

   A transfer of funds between banks by electronic means.

WikipediaRate this definition:0.0 / 0 votes

1. Wire transfer

   Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserve's Fedwire system in the United States, are more likely to be real-time gross settlement (RTGS) systems, as they provide the quickest availability of funds. This is because they post the gross (complete) entry against electronic accounts of the wire transfer system operator. Other systems, such as the Clearing House Interbank Payments System (CHIPS), provide net settlement on a periodic basis. More immediate settlement systems tend to process higher monetary value time-critical transactions, have higher transaction costs, and have a smaller volume of payments. A faster settlement process allows less time for currency fluctuations while money is in transit.

WikidataRate this definition:3.0 / 1 vote

1. Wire transfer

   Wire transfer or credit transfer is a method of electronic funds transfer from one person or institution to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office, such as Western Union. Wire transfer systems are intended to provide more individualized transactions than bulk payment systems such as the US ACH and Check21 systems. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserve's FedWire system in the United States are more likely to be real time gross settlement systems. RTGS systems provide the quickest availability of funds because they provide immediate "real-time" and final "irrevocable" settlement by posting the gross entry against electronic accounts of the wire transfer system operator. Other systems such as CHIPS provide net settlement on a periodic basis. More immediate settlement systems tend to process higher monetary value time-critical transactions, have higher transaction costs, and a smaller volume of payments. Currency transaction risk may be reduced by immediacy of settlement.

How to pronounce Wire Transfer?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say Wire Transfer in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Wire Transfer in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of Wire Transfer in Pythagorean Numerology is: 3

Examples of Wire Transfer in a Sentence

1. Paul Manafort:

   Like many companies doing business internationally, my company was paid via wire transfer, typically using clients' preferred financial institutions and instructions.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Wire_Transfer
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Wire_Transfer
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=Wire Transfer