What Is Internet Wire?
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Internet wire is a secure method of transferring money electronically between financial institutions. The money is transferred electronically through a network of banks, credit unions, and other financial institutions that have agreed to use the same secure protocol for transferring funds. This type of transfer eliminates the need for paper checks and makes it easier for people to send money quickly and safely.
Internet wire is an online payment service that allows businesses to securely and quickly send and receive money online. It is an alternative to traditional payment methods like checks and money orders and can be used for a variety of purposes, including making payments to vendors, collecting payments from customers, and transferring money between businesses. Internet wire services are typically provided by banks and other financial institutions.