DOMESTIC WIRE TRANSFER REQUEST FORM - Discover.
Wire transfer, bank transfer or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office.
A bank wire transfer is the preferred mode of transferring money from one bank to another when you want to send it quickly and safely. A bank wire transfer is the easiest and most reliable way. It is fast because banks transfer the money electronically. A bank wire transfer happens only when both the sender and the receiver are able to be identified by the bank.
An international wire transfer is a service offered by almost every bank that lets you send money from your bank account to a recipient’s bank account elsewhere in the world. You can normally create an international wire transfer through your online banking services, enter the details of the person who will receive the funds, then pay for your transfer.
One of the key benefits of working with a global bank is that customers can send money around the world, in a variety of currencies, via wire transfers. Citibank is a global powerhouse when it comes to banking, and it offers its customers numerous ways to send their funds around the world.
Electronic account-to-account transfers are often called wire or ACH transfers in the USA. What is BIC or SWIFT? The Bank Identifier Code or BIC identifies the payment beneficiary’s bank — the bank that will receive the funds transfer.
Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).
In a typical wire transfer, the customer transmits instructions to the bank to transfer money from its account to the account belonging to a third party. This instruction is called the payment order. Because the customer is not physically present at the bank, the bank uses security procedures, such as passwords and PIN numbers, to verify that the person sending the payment order is the customer.