What is a Wire Transfer?

A Wire Transfer is an electronic transfer of money from one entity to another across the financial network. It is a fast & secure transfer of fund from one bank or credit union account to another. It allows people to easily transfer money around the globe in different geographical locations, while maintaining efficiency. With a wire transfer, you can transfer huge sum of money as no actual cash is moved. Banks will collect a fee for providing service based on the size of transfer being done.

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