When you need to send or receive money fast, a wire transfer might be the right tool for the job. Wire transfers are immediate, reliable, and safe.

Wire transfers are useful because the money moves within one or two days. Same-day transfers are possible, and international transfers take an extra day or two.

Cleared funds: Because the money moves quickly, the recipient should not have to wait for funds to clear before claiming or using the money.

For significant transactions — like buying a vehicle — wire transfers might be your only options. Why? The short answer is that the funds are available to the recipient more or less immediately.