An electronic bank-to-bank payment that moves money quickly, often same-day, usually for a fee — common for large or international payments.
A wire transfer sends money bank-to-bank, usually the same day, for a fee — often $15–$45 domestically and more internationally. It’s the tool for large or urgent payments where speed matters more than cost.
For sellers, wires are fast and, once received, effectively final — there’s no chargeback risk like with cards. That makes them useful for big final balances. The downside is the fee and the friction: the client needs your full bank and routing details. For buyers, wires suit large one-time payments; for smaller recurring work, an ACH transfer does the same job for far less.
The thing to watch is fraud. Wire payment details are a favorite target for scammers who intercept email and swap in their own account numbers. Confirm banking details by phone with a known contact before sending a large wire, and treat any last-minute “our account changed” email as a red flag until you’ve verified it directly.