What is a bank wire?

Question

What is a bank wire?

Answer 1

Bank Wire terminology is used for transferring funds between two distant bank accounts, majority of the times for international funds transfers. It is a secured money transfer facility between the two banks for the benefit of their account holders. It is cheap, faster and secured mode of transferring funds among the different banks protocols, recognised and practised internationally.

Answer 2

TT: when a particular bank for transferring funds they use the word wire:

  Now a days core banking and anywhere banking replaced this: and Telegram is becoming obsolete: Swift is the new method of trasfer.