Wire transfers can be outgoing if you are sending funds and incoming if you are receiving funds. A domestic wire transfer is the electronic transfer of funds between accounts within the same country.

Sponsored Bank Accounts A domestic wire transfer could involve two banks in the U.S., while an international wire transfer could involve one bank in the U.S. and another bank in Canada.

Wire transfers send money nearly instantly to another person's account. There are different fees for international and domestic wire transfers. You can save money on wire transfer fees by ...