Wire Transfer
An electronic method of transferring money directly from one bank account to another, usually internationally.
Full Explanation
A wire transfer is a direct electronic transfer of funds between bank accounts. Wire transfers are typically initiated by the sender's bank and routed through banking networks (like SWIFT) to the recipient's bank. Wire transfers are secure and reliable but can be slow (1-3 days) and expensive ($15-50). Modern alternatives like Woalet offer faster settlement at lower costs.