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Wire Transfer
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A wire transfer is an electronic transfer of funds across a network administered by hundreds of banks around the world.
Wire transfers can be done by a simple bank account transfer, or by a transfer of Cash at a Cash office. Bank wire transfers are often the most expedient method for transferring funds between bank accounts. A bank wire transfer is a message to the receiving bank requesting them to effect payment in accordance with the instructions given. The message also includes settlement instructions. The actual wire transfer itself is virtually instantaneous, requiring no longer for transmission than a telephone call.
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Privatebanking.com
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