Bank wire

(redirected from Bank Wires)

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 ?
making Bitcoin transactions about as expensive as bank wires.
For a regular bitcoin transaction, a fee of tens of US dollars is common, making bitcoin transactions about as expensive as bank wires.
Bank wires and money transfers can be completed using the unique biological signature of the receivers' eyes for identity verification.
According to a list of bank wires included in the indictment, the last time Manafort had funds transferred from an account in Cyprus was March 12, 2013, four days before the prolonged bank holiday of the banking crisis of that month.
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.
In a nutshell, prosecutors were able to establish a money trail that was detected in bank wires and trade of precious metals such as gold as well as cash in foreign exchange (using physical and wiretap surveillance) and that implicates senior people in the government.
For example, it may be important for your custodian or your client's bank to know what your client's signature looks like if he or she plans to use check-writing features or bank wires.
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.
More highways will only choke us sooner, the tax cut will only swell the bank wires a little fatter, and extended benefits will not reach the inmates of our workhouse economy or the chronically unemployed.
Stripe cited transaction fees, which it says are now about as expensive as bank wires, as one of the primary reasons it is dropping Bitcoin.