# Wire Transfer

**IRI:** https://folio.openlegalstandard.org/RDO3UKXcvzCX1v6RIJEbhiy

## Labels

**Preferred Label:** Electronic Funds Transfer

**Alternative Labels:**

- Bank Transfer
- EFT
- SWIFT Transfer

## Definition

"Wire Transfer" refers to the electronic transfer of funds from one financial institution or account to another, executed via a network of banking institutions or transfer service providers. This method of transferring money is commonly used for both domestic and international transactions and is generally considered secure and fast.

## Sub Class Of

- https://folio.openlegalstandard.org/R8V9Ma3IrggNq0pxeXl8Re5

**Deprecated:** False