A wire transfer is a method of electronically transferring money from one bank account to another. This process allows individuals and businesses to send funds quickly and securely, both domestically and internationally. Wire transfers typically require the sender to provide the recipient's bank account details, including the bank's routing number and the account number. To initiate a wire transfer, the sender usually visits their bank or uses online banking services. Fees may apply, and the transfer can take anywhere from a few hours to several days, depending on the banks involved and the transfer's destination.