What is the difference between wire transfers and online banking transfers?
Top answer
Wire transfer , bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another. So if you want to do a wire transfer from your bank account in the US to your father's bank account in Pakistan, you go to the bank in person, fill out some forms and signe them, and then, within a few days, the bank will send the instructions over the "Electronic Funds Transfer" network. If you want to do an online bank transfer, you log on to your account at the bank's web site and request an electronic bank transfer.
- Wire transfer , bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another.
- So if you want to do a wire transfer from your bank account in the US to your father's bank account in Pakistan, you go to the bank in person, fill out some forms and signe them, and then, within a few days, the bank will send the instructions over the "Electronic Funds Transfer" network.
- If you want to do an online bank transfer, you log on to your account at the bank's web site and request an electronic bank transfer.
- These transfers have certain restrictions, for example, there may be a maximum amount, or limits on which countries you can transfer to.
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Wire transfer, bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another.
So if you want to do a wire transfer from your bank account in the US to your father's bank account in Pakistan, you go to the bank in person, fill out some forms and signe them, and then, within a few days, the bank will send the instructi
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