What is Fedwire?
Updated over a week ago

Fedwire is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants.

Unlike SWIFT most transactions completed via Fedwire should be completed the same day.

You should not need to instruct the sending bank specifically to use Fedwire. However, if asked how to send a payment to your USD account then you should instruct them to use Fedwire.

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