Wire transfer
In accounting, wire transfer means a payment settled individually and in full — domestically over Fedwire, cross-border through correspondent banks via SWIFT — same-day and final once sent, which is why it carries the highest fraud risk.
- Layer
- Lexicon
- Defined in
- Lexicon
- Nearby
- 1
Authority
This definition follows Federal Reserve — Fedwire Funds Service.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- ACH
- bank transfer unqualified
Components that render the terms it depends on
No component names this concept outright. Its definition is built out of terms that are named. These render settled.
Nearby in the catalog
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Terms this one depends on
Also in Cash
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.