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What Is a Wire Transfer?

By Frank Bass – May 16, 2025 at 5:58PM | Fact-checked by Robin Hartill, CFP

Key Points

  • Wire transfers allow you to send money quickly and securely between banks.
  • Fees vary by bank but can be costly, so compare rates before transferring.
  • Use wire transfers for urgent or large payments, as they are reliable and fast.
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