wire transfers Insights

What is wire transfers?

A wire transfer is an electronic transfer of money from one person or entity to another. A sender provides funds and recipient details to their bank or transfer service, and the funds are electronically moved to the recipient's account, often through a network like SWIFT. It is commonly used for large transactions, international payments, and situations requiring secure and traceable fund transfers.

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What other technologies are related to wire transfers?

wire transfers Competitor Technologies

ACH

ACH (Automated Clearing House) is a direct competitor to wire transfers, as it provides an alternative electronic funds transfer system for payments and collections.

mentioned alongside wire transfers in 5% (200) of relevant job posts

wire transfers Complementary Technologies

Positive Pay

Positive Pay is a fraud prevention service offered by banks that can complement wire transfers by helping businesses detect fraudulent wire transfer requests before they are processed.

mentioned alongside wire transfers in 12% (83) of relevant job posts