WIRE

What is the full form of the trem WIRE in wire payment ? Expalin the process for making and receiving the payment through WIRE?

Questions by Sanju40148   answers by Sanju40148

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Gandhevi

  • Aug 17th, 2008
 

There is no specific abbreviation for the term WIRE because when the payment is being made using this option, you will not see the physical movement of funds. It is all electronic. It is just like a current passes through Wire.

Therefore Electronic movement of funds is campared with WIRE.

Regards,
Vinod.

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vijay.rathinavel

  • Mar 13th, 2010
 

The WIRE payment there is no specific expansion.

Incase WIRE payment means the payment will reach vendor within a days.

Incase of EFT the payment will reached by the vendor it will take 3 days.(required SWIFT code, Account number, ABA number etc)

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