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A wire transfer is an electronic transfer of funds across a network administered by hundreds of banks around the world. Wire transfers allow for the individualized sending of funds from single individuals or entities to other individuals or entities while still maintaining the efficiencies associated with the fast and secure movement of money.
A wire transfer is a fast way to move money electronically from one person to another using a bank or a nonbank provider such as Western Union or TransferWise. No physical money moves between locations.
Western Union is a wire transfer service that allows you to quickly transfer money all over the globe. While it's not without risks, it is a reliable way to get money to friends and family almost anywhere in the world.