What is the difference between a SWIFT transfer and a wire transfer?

Asked Jul 5, 2015· 1 answer
Faisal KhanAnswered Jul 5, 2015
Nomenclature essentially, also depends from which country this question is being asked for.

Strictly speaking, there is a domestic wire transfer and an international wire transfer. Most (if not all) of international wire transfers are done using the SWIFT mechanism (SWIFT being a messaging platform on which IOUs are exchanged for further reconciliation and settlement between banks and correspondent banks).

So SWIFT transfer is a sub-set of international wire transfers.
SWIFT TransfersInternational Wire TransfersLarge International Transfers
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