ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BANK WIRE Definition
BANK WIRE is an electronic message network developed by an association of banks to communicate information between members of the association. It speeds and facilitates the transfer of funds and reporting of security transactions, quotes the payment and nonpayment of items and gives credit information on individuals and organizations. Unlike the Fed Wire System, it is not used to send actual payments, but rather to inform banks in the association about the movement of certain funds affecting a particular bank's account.
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E.C. (EUROPEAN COMMUNITY or EUROPEAN COMMON MARKET) is a trading block of countries in Europe that have agreed on common regulations on cross-border trade.
INTERCOMPANY or INTERCORPORATE means occurring between companies.
