Bank Wire Transfer - Electronic Money Transfer - Transferring cash electronically between banks - Bank account transferring balance via electronic wire transfer - SWIFT - Secure system swiss banking - reciprocal account instantaneous

Bank Wire Transfers

Bank wire transfers are often the most efficient method for transferring funds between bank accounts. A bank wire transfer is effected as follows:

The sending bank transmits a message, via a secure system (such as SWIFT or Fedwire), to the receiving bank, requesting that it effect payment according to the instructions given.

The message also includes settlement instructions. The actual transfer is not instantaneous: funds may take several hours to move from the sender's account to the receiver's account.

Either the banks involved must hold a reciprocal account with each other, or the payment must be sent to a bank with such an account, a correspondent bank, for further benefit to the ultimate recipient.

For further information, please Contact a Swiss Bank.

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