Wire transfer, bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office.
The amount varies. It can be free (if it is interbank funds transfer) and it can be as low as $5 for a domestic wire transfer to as high as $75 for an international wire transfer using SWIFT. Typically, international wire transfers will average about $25 per transfer.
The following things are required to do a wire transfer: Money Sender Bank Account Details Receiver Name Receiver Bank Account Details All banks across the world can do a wire transfer as long as you have the above mentioned 4 items. They will charge you a fee for doing the wire transfer as well.