Wire transfer

Wire transfer is like a digital version of giving someone money. It's a way to move money from one person or company to another person or company. You can think of it like wiring money with an invisible wire.

First, someone needs to ask you to transfer money and give you the details of where it should go. Then, you will need to go to your bank, or the company you use to send money and start the wire transfer process. You will need to give them the details of where the money should be sent and how much. After that, your bank or money transfer company will take care of sending the money using computers and the internet to move the money from one account to another. The money will arrive a few minutes or hours later and the person or company receiving the money can then spend it or save it.