Bank wire

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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 ?
Payment Processors: xRevenuePro has the provision to pay and receive money from both conventional and latest payment gateways including STP, Payza, Perfect Money and also from Bitcoins, Bank Wires, etc.
Our platform will result in instant savings for our Bangladeshi members, who now have an alternative method to avoid costly payment receiving options such as bank wires and debit cards.
Likewise all the other payout methods: bank wires, Moneybookers, Neteller, 'person-to-person' methods-all are faster than ever, for larger amounts and with lower fees than ever before.
Chen Chih-chung and his wife told reporters at Taipei's Taoyuan airport they would cooperate with investigators in the case, which involves what his father said are illicit bank wires of some US$20 million from campaign contributions to overseas accounts.
The fraudsters say they want people or companies which can accept bank wires on bank accounts to get in touch.
Many people prefer sending credit back home by way of topping up mobile phones in the home country as a low transaction cost alternative compared to paying hefty transaction fees for wiring funds over using the regular bank wires or postal orders.
Business owners can reduce transaction costs associated with bank wires and cash transfers to vendors, employees, and affiliates.
flexible deposit options, including bank wires, credit cards, e-currencies, CashU, Moneybookers, ClicknBuy, etc;
The new Payout Program announced at IGE allows merchants to quickly and simply enable winnings payouts to consumers via prepaid cards, virtual cards, bank wires, bank transfers, cheques or to the NETELLER e-wallet.
1 billion local debit cards, 75 million credit cards, prepaid cards, stored value accounts, digital vouchers, bank wires and postal wires.
Mazumah International, an online money management system, recently contracted with ADP Printing and Consolidation Services to manage an increasing volume in check requests and bank wires generated by Mazumah customers.
1 billion local debit cards, 50 million credit cards, prepaid cards, mobile payments, virtual accounts, digital coupons, bank wires and postal wires.