wire transfer


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Wire transfer

Electronic transfer of funds; usually involves large dollar payments.

Wire Transfer

The direct, electronic transfer of funds from one bank account to another. Wire transfer is instantaneous and is a fairly common way to send funds to another party very quickly. However, wire transfers sometimes have higher fees than, say, writing checks. Outside North America, wire transfers are sometimes known as telegraph transfers.

wire transfer

References in periodicals archive ?
The survey focused on: the perceived value of sending or receiving remittance information with the payment, preferences for specific remittance information and practices surrounding notification of wire transfers sent or received.
Meanwhile, proprietors of wire transfer companies around the country owe customers in the United States and Somalia thousands of dollars in remittance money taken by the Treasury Department.
For example, in the typical wire transfer, the originator is the sender of the payment order to the originator's bank.
Additionally, Western Union will provide prominent warnings to consumers about the danger of fraud-induced wire transfers that will appear on the front page of Western Union's Send Form, which is used to initiate money transfers.
Similarly, the customer and bank could adopt a security procedure that would utilize different codes for different ranges of dollar amounts so that a $1 million wire transfer could not be erroneously sent as a $10 million transfer.
As a certified user of the FedLine Direct service, Fiserv can now leverage advanced capabilities, like frame relay technology and advanced security controls for clients of XRoads and wireXchange, to deliver unmatched reliability for both ACH and wire transfers.
There is no standard format for organizations to provide remittance information with wire transfer instructions and no assurance that data that is included will be received by the beneficiary.
SANTA CLARITA - A Canyon Country jeweler indicted on federal charges of using forged checks and phony wire transfers to steal $3 million from nine bank accounts was released on bond Thursday after making an initial court appearance.
The GFX DEFENDER is a low-cost, easy-to-implement wire transfer service that can be implemented rapidly and can improve compliance and operational aspects of a wire transfer operation.
LOS ANGELES - A Canyon Country jeweler has been indicted on federal charges that accuse him of siphoning nearly $3 million from nine bank accounts using forged checks and phony wire transfer authorization letters, officials said.
Bancorp (NYSE:USB), has enhanced its treasury management offerings by introducing a global wire transfer system based on HP technology.
BankServ, one of the nation's leading providers of payment services, and Silicon Valley Bank, a wholly-owned subsidiary of Silicon Valley Bancshares (Nasdaq: SIVB), announced today that Silicon Valley Bank will license BankServ's Global Funds Exchange (GFX) automated wire transfer software.