A wire transfer moves funds directly from the sending bank to the receiving bank without batching. That is why it arrives within minutes to a few hours during banking hours, and why it costs materially more than batch systems — commonly in the region of $25 to $50 for a domestic US transfer.
International wires typically travel over the SWIFT messaging network and may pass through intermediary banks, each of which can deduct a fee, on top of the currency conversion spread.
Why It Matters
Finality is the property that matters most, and it cuts both ways. Once accepted, a wire is effectively irreversible without the recipient’s cooperation — which makes it the safer rail for receiving a large payment before you ship goods or start work, and simultaneously the favourite instrument of invoice fraud. A wire sent to a fraudulent account after someone altered the bank details on an invoice is extraordinarily hard to recover, which is why changed bank details should never be accepted on the strength of an email alone.
Example
A supplier requires a wire for a £40,000 deposit before beginning a build. The fee is trivial against the amount, the funds are confirmed and final within hours, and there is no window in which the payment could be pulled back after work has begun.
Frequently Asked Questions
When should I ask for a wire instead of ACH?
For large amounts, genuine deadlines, and most international payments. For ordinary invoicing, asking a client to pay tens of dollars in fees to save a day or two is disproportionate — ACH or its local equivalent is the professional default.
Why did an international wire arrive short?
Intermediary banks can deduct fees along the route and the conversion carries a spread. Agree in advance who bears the charges, and compare the amount that actually lands rather than the headline fee.