Wire transfer: definition, example, and why it matters

Wires settle same-day but cost $15–$50. Used for real estate, large equipment, and international suppliers. Once sent, a wire is essentially irreversible.

• Short definition. A same-day bank transfer of funds, typically used for large or international payments.
• Category. Wire transfer is a payments term used by service businesses when billing customers.
• How Glo Invoice handles it. Glo Invoice builds wire transfer into the invoice itself, so you don't track it on paper or in a spreadsheet.

Frequently asked questions

What does wire transfer mean?

Wires settle same-day but cost $15–$50. Used for real estate, large equipment, and international suppliers. Once sent, a wire is essentially irreversible.

Related terms

• ACH transfer — An electronic bank-to-bank transfer over the US Automated Clearing House network.