Overview#

Federal Reserve Wire Network (Fedwire) is a real-time gross settlement Funds Transfer System operated by the United States Federal Reserve Banks that enables financial institutions to electronically payments between participants.

Transfers can only be initiated by the sending bank once they receive the proper wiring instructions from the receiving bank. These instructions include:

• the receiving bank's
• Routing Transit Number
• Account Number
• name
• dollar amount being transferred.

This information is submitted to the Federal Reserve Wire Network.

Once the instructions are received and processed, the Federal Reserve Bank will debit the funds from the sending bank's reserve account and credit the receiving bank's account. Wire transfers sent via Federal Reserve Wire Network are completed in the same day, while some are completed instantly

More Information#

There might be more information for this subject on one of the following:

• Clearing House Interbank Payments System
• Federal Reserve
• Fedwire