Money wire transfer is a convenient and fast way of sending money to another person or business. The money is almost immediately moved from the sender’s bank account to the receiver’s account and they are able to withdraw or use it as soon as they like.

Wire transfer is used to refer to any method that involves paying through electronic means instead of through paper checks or cash. It could mean an ACH payment, a direct bank to bank transfer through your banking service or even a transfer using a money transfer company like PayPal or Western Union.

However, money wire transfers have also been used by scammers and con artists to get unsuspecting people to transfer money to them. This is also done through phishing attacks where the victim clicks, what appears to be, a simple link.

Here is more about how to avoid getting scammed into money wire transfers of huge amounts to thieves.