---
title: "Wire transfer: definition | Rex glossary"
description: "A fast electronic transfer between banks, often used for large or international payments, that carries little remittance information."
canonical: https://www.rex.inc/glossary/wire-transfer
---

# Wire transfer

A fast electronic transfer between banks, often used for large or international payments, that carries little remittance information.

Wires settle quickly and are hard to reverse, which makes them common for high-value and cross-border payments. The payment message has room for only a short reference, so invoice detail usually arrives separately.

Intermediary bank fees can also reduce the amount received, leaving a small short payment that needs a decision.

## Related terms

- [ACH payment An electronic bank transfer through the US Automated Clearing House network, one of the most common ways US businesses pay each other.](https://www.rex.inc/glossary/ach-payment)
- [Short payment When a customer pays less than the full invoice amount, leaving a balance that needs to be explained, accepted or collected.](https://www.rex.inc/resources/glossary/what-is-a-short-payment)
- [Remittance advice The details a customer sends with or alongside a payment, saying which invoices it covers and explaining any deductions.](https://www.rex.inc/resources/glossary/what-is-remittance-advice)

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