Bank wires notify the bank of an action on an account, such as a transfer.
Think back in the day, like before texting, when people used to "wire" a message or use Morse code. This doesn't actually transfer the money though. The actual transfer of funds is called a wire...transfer.
Related or Semi-related Video
Finance: What is a member firm? (as oppo...6 Views
Finance allah shmoop What is a member firm Well so
what's the big club here Skull and bones No alphabetic
I know order of the phoenix No And our apologies
to this is rowling There it's one of the more
exclusive clubs on wall street A member firm is a
broker dealer where in at least one of the key
people who run the firm is a member of the
new york stock exchange or of another major exchange or
clearinghouse corporation or a player in an s r o
a self regulatory organization like you know finn ra or
see bob or one of dozens of other org's with
mysterious sounding acronyms and that's basically it The key here
is that your firm has somebody who's connected wired a
player in a not new york mafia kind of way
either and that they're able to trade on the exchange
floor giving their firm you know a handy leg up
and just a side note This club is also a
biggie on wall street but well you've got to be
over twenty one and have a keen appreciation of finance 00:01:05.984 --> [endTime] funds to get in that's the shmoop club
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