Wire transfers are a fast and easy way to make payment to a bank account when settling a currency exchange transaction.
A wire transfer, is also known as an electronic fund transfer TT, or a telegraphic transfer. Banks transmit electronic instructions to credit bank accounts at other banks through interbank communications networks. These networks include SWIFT, American Banking Association, CC and others. Due to the fact that these instructions are sent electronically, these payments are commonly called wire transfers.
A wire transfer is the most secure way to send a payment to another bank account. It is also the safest way therefore to conduct a currency exchange.
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