Wire Transfer
/ˈwaɪər ˌtrænsfɜr/
Definitions
- (n.) An electronic method for transferring funds from one bank or financial institution to another, often used for domestic and international payments.
The company completed the payment via wire transfer to meet the contract deadline.
Forms
- wire transfers
Related terms
Commentary
Wire transfers are favored in legal and financial transactions for their speed and traceability compared to cash or check payments.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.