A wire transfer is an electronic method of sending money from one bank or financial institution to another. It is commonly used for domestic and international payments, offering a secure and direct way to transfer funds.
Types of Wire Transfers
Domestic Wire Transfers
Sent within the same country.
Typically processed through national payment networks (e.g., Fedwire in the US, CHAPS in the UK).
Faster than international wires, often completed within the same day.
International Wire Transfers
Sent between banks in different countries.
Often processed via SWIFT, but can also go through local networks like SEPA (EU) or ACH (US).
Typically takes 1–5 business days, depending on intermediaries and currency conversion.
How to send a Wire?
To send a Wire transfer first make sure your account is funded. Then you can click on the Send button and enter the account details and IBAN of the receiver by selecting the "+" button at the top right which will create a new recipient.
Once that's done, just select the recipient and complete the steps to send a transfer!