(fɛdwaɪər) or Federal Reserve Wire Network
noun(
Finance: Banking)
The Fedwire is an electronic system for transferring large sums of money and securities between banks.
The primary wire transfer system, known as Fedwire, is run by the Federal Reserve System and is available to all depository institutions.
Depository institutions transfer large-dollar payments over the Fedwire.
The Fedwire is an electronic system for transferring large sums of money and securities betweenbanks.