Difference between bank transfer and wire (receiving from abroad)

[jellipad]

What is the difference between a bank transfer and wire?

A US company needs to send my payment and has asked to provide details for a bank wire rather than a bank transfer - I always thought they were the same thing.

Thanks!

 

[Newchodge]

Is this a case of 2 countries separated by the same language? In order to effect a bank transfer one bank used to wire (send a telegram) to the other. Is this just a case of the americans using the old phrase? I don't actually know, but it seems possible.

 

[SDLBiz]

According to Google, a bank wire is sending funds from one person to another whilst a bank transfer is sending funds from one account to another account owned by the sender.

However, despite technicality, the term bank transfer is used more in the UK to mean the same as bank wire.

However when sending internationally, extra details about your bank are required I believe.

 

[DavidWH]

When we have take international payments (from the EU) we supplied the IBAC and BIC numbers.

When we pay money to the EU we use these to make an international transfer using our online banking.

Not sure about the Yanks but I would imagine it would be the same.

http://www.business.hsbc.co.uk/1/2/international-business/iban-bic

 

[japancool]

Tell them that most banks in the UK now have WiFi?

 

[beasty]

Same thing

 

[vvaannmmaann]

OP are you certain the US company is legitimate and this is not some sort of scam?