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Wire transfer is a method of transferring money from one entity to another. A wire transfer can be made from one entity's bank account to the other entity's bank account, and by a transfer of cash at a cash office.

Although the genesis of the idea dates as far back as the giro, the modern wire transfer was a product of the telegraph companies, which made it possible to wire a money order from one office to another. Later, it became possible to wire money between banks, which is essentially the same process as the giro. Therefore, the term giro is still used for it in many other European countries.

Bank transfer is the most common payment method in Europe^[1], with several million transactions processed each day. Debit cards are used extensively to pay in stores, while monthly bills are usually paid with a direct transfer (by cellular phone or Internet, or at the bank or an ATM). In 2002, the European Commission relegated the regulation of the fees that a bank may charge for payments in Euros between European Union member countries down to the domestic level,^[2] resulting in very low or no fees for transfers within the Eurozone; wire transfers between this zone and external areas can be expensive.

In the United States, domestic wire transfers are governed by Federal Regulation J^[3] and by Article 4A of the Uniform Commercial Code.^[4]

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