Coverage
Fedwire
Real-time gross settlement system operated by the U.S. Federal Reserve. Used by financial institutions to send large-value USD transfers securely and instantly within the U.S.
Local transfer
About Fedwire transfer
Fedwire is a real-time gross settlement system operated by the U.S. Federal Reserve for high-value USD transfers. Used by banks and financial institutions for secure, same-day domestic payments, typically clearing within minutes.
How it works
Real-time settlement: Funds are transferred instantly and irrevocably between institutions.
Operated by the Fed: Directly managed by the U.S. Federal Reserve.
Domestic only: Used exclusively within the United States for USD transactions.
Example:
When a company in New York sends a $500,000 USD payment to its supplier in California, Fedwire ensures the funds are delivered securely and immediately on the same day.