Fedwires
Fedwires are electronic transfers operated by the Federal Reserve System.
Funds sent by Fedwire are available for use immediately. Fedwires generally
are used for large dollar payments because of the cost associated with them.
Receiving a wire transfer can cost $9–$15 and sending a wire can cost $8–$20,
depending on the sending method (telephone or personal computer) and if
it is repetitive or nonrepetitive.A nonrepetitive wire is a one-time transaction
and is more costly than a repetitive wire,which is a wire that is routinely sent
and is set up with a code at the sender’s bank to expedite the transaction.