A Wire Transfer is an electronic transfer of funds across a network administered by most banks around the world.

Sometimes sending a check or cash is not feasible, or the recipient might want the funds either right away or in a certified manner. For these transactions sending a wire transfer is the most common way of ensuring the your money get to where it needs to get in a hurry.

When sending a wire transfer there are a few things you need to have:

• How much money is being sent, ensure this amount is not more than your balance!
• Name of the recipient.
• Bank account number of the recipient.
• The routing number of the recipient bank, if within the U.S. the ABA (American Banking Association number)(outside the U.S. you might need a SWIFT number)

But you don't always have to use a bank to send a wire transfer or send money to another person. There are new services like PayPal and Google Check Out that have taken the next step in instant money transfer. Both sites now allow you to send money over the Internet to any party with an email address.

Outside of North America, wire transfers are sometimes referred to as a "telegraphic transfer" or t/t.

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