A wire transfer is an electronic transfer of funds across a network administered by hundreds of banks around the world.

This definition is why a wire transfer is sometimes called a "bank wire." ... ACH transfers are slower than wire transfers but generally cheaper and easier to reverse in cases of a mistake or fraud.

Legal Definition of Wire Fraud. Wire fraud, or fraud by radio, wire or television, is defined in 18 U.S. Code section 1343. ... If you send a wire transfer in response to a scam, ...

New efforts to stop scammers from stealing through fraudulent wire transfers 04:14. Americans are losing millions of dollars every year to criminals who steal money from their bank accounts ...

Commercial litigators who represent financial institutions should understand Article 4A of the Uniform Commercial Code (UCC), ...

What Does Wire Transfer Mean? Today, a wire transfer means an electronic payment directly from one bank account to another. The term is a hangover from a bygone era where telegraph wires were the ...

A wire transfer may require the sender’s government-issued ID, such as a driver’s license or passport, plus this information: — The sender’s and the recipient’s name and contact information ...

Q: I am buying a home, and my agent told me that I would need to send the money for the closing by wire transfer to the title company and that I needed to call the title company to confirm the deta… ...

Kimberly Palmer, with NerdWallet, said wire transfers work similar to cash. "Once that money is gone, it's gone — you can't really track it or retrieve it. There are a few exceptions. For example, if ...

International wire transfers can be effective, ... For example, a bank might receive euros at a rate of $1 to 0.89 euros, meaning $1,000 would be 890 euros. When you transfer $1,000, ...

NOTE: Wire transfers usually incur extra bank fees and should be used only in special circumstances. Please feel free to contact us if you have any questions. Student Finance Northwestern University ...