The ultimate sophistication for processing wires

Fedwire is a real-time gross settlement system operated by the Federal Reserve Banks that provides clearing and settlement services for high-value interbank transactions. It allows financial institutions to quickly and securely transfer large sums of money between each other in real-time.

In a Fedwire transfer, the sender's bank initiates the transfer and sends a payment instruction to the Federal Reserve Bank, which then forwards the payment instruction to the recipient's bank. The recipient's bank credits the funds to the recipient's account, and the transaction is complete. The entire process is completed in real time and the funds are transferred almost instantly. 

There are several benefits of using Fedwire, including: 

• Real-time, reliable and irrevocable transfers
• Increased operational efficiency and reduced operational risk 
• Ability to make large-value transfers 24/7/365 
• Ability to send and receive transfers with financial institutions in the United States and abroad
• Increased security through the use of Fedline, the Federal Reserve Banks' secure network for transmitting Fedwire transactions

Fedwire transfers can be initiated through a financial institution's Fedline access device or through Fedline Web, the Federal Reserve Banks' secure web-based application. You must have a Fedwire account at a Federal Reserve Bank and be authorized by your financial institution to initiate Fedwire transfers.