Bank wire

Bank wire

A computer message system linking major banks. It is used not for effecting payments, but as a mechanism to advise the receiving bank of some action that has occurred, e.g., the payment by a customer of funds into that bank's account.

Bank Wire

1. An electronic communications system between banks. Employees at banks use the bank wire to inform other banks that an activity or transaction has taken place. Important: It is not used to actually transfer funds.

2. See: Electronic funds transfer.
References in periodicals archive ?
Here, you can fund your account with Credit Cards, Bank Wire, Skrill, Neteller and of course with Bitcoin Wallets.
Apart from payment terminals, members depending on their country of residence can add funds to their WebMoney purses via internet banking, bank branches, prepaid cards and vouchers as well as postal transfer, bank wire and other means.
With a Swifthub payment account it's never been easier to send and receive bank wire transfers or send mass payments to bank accounts anywhere across the globe.
Once engaged the operator collects the details from the victim and uses the website malfunction to authenticate the user and later empty the bank account with a bank wire.
By the way, this hacking organisation did not take credit card payments for their services--just bank wire transfers and Western Union.
The Asian worker was caught red-handed while conducting several bank wire transfers through Saudi banks.
With the exception of these special rates to certain countries, bank wire transfer services are generally far more economical.
Neovia prompts receivers to open their own NETELLER account and withdraw the funds via bank transfer, cheque, bank wire or through the Net + card which can be used at ATMs and point-of-sale terminals.
Once Higher One receives both the file and the bank wire, the company verifies that the amounts from both transmissions agree.
With a boosted staff of about 900 people scattered throughout the country, she is confident her office has noted down 99 per cent of all aid coming in, whether by lorry, boat, plane or bank wire, and recorded how each item is being used.
Also, we don't pay for an expensive store front, because we own the diamond district building, we offer cash, bank wire, or check in an amount greater than any local store or pawn shop," said Kaplan.
o Use of a range of P2P methods, including PayPal, bank wire transfers, bank P2P transfers, money transfer services, and other emerging methods.