Fedwire

Fedwire Funds Serviceoperated
Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).wikipedia
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Real-time gross settlement

RTGSReal time Gross settlementReal Time Gross Settlement (RTGS)
Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).
The first systems that had the attributes of a RTGS system was the US Fedwire system which was launched in 1970.

Clearing House Interbank Payments System

CHIPSwholesale funds transfer system
In conjunction with Clearing House Interbank Payments System (CHIPS), operated by The Clearing House Payments Company, a private company, Fedwire is the primary U.S. network for large-value or time-critical domestic and international payments, and it is designed to be highly resilient.
Together with the Fedwire Funds Service (which is operated by the Federal Reserve Banks), CHIPS forms the primary U.S. network for large-value domestic and international USD payments where it has a market share of around 96%.

The Clearing House Payments Company

The Clearing HouseClearing House Supervisory Board
In conjunction with Clearing House Interbank Payments System (CHIPS), operated by The Clearing House Payments Company, a private company, Fedwire is the primary U.S. network for large-value or time-critical domestic and international payments, and it is designed to be highly resilient.
CHIPS provides real-time, immediate and final settlement of payment messages continuously throughout the day similar to Fedwire.

Wire transfer

bank transfermoney transferInternational payments
Wire transfer
Central bank wire transfer systems, such as the Federal Reserve's FedWire system in the United States, are more likely to be real-time gross settlement (RTGS) systems.

FedACH

FedACH
For comparison, Fedwire processed about 537,000 transactions per day valued at nearly $2.7 trillion in the same year.

Daylight overdraft

Daylight overdraft
In the United States, the daylight overdraft (also called intraday overdraft) is a system in which “allows qualifying banks to overdraw on their Federal Reserve accounts in order to make payments via Fedwire.

United States

American🇺🇸U.S.
Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).

Federal Reserve Bank

Federal ReserveFRBmember banks
Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).

Financial institution

financial institutionsfinance companybanking institution
Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009).

Systemically important financial market utility

systemically important financial market utilities
In 2012, CHIPS was designated a systemically important financial market utility (SIFMU) under Title VIII of the Dodd–Frank Act, which means that CHIPS is subject to heightened regulatory scrutiny by the Federal Reserve Board.

Dodd–Frank Wall Street Reform and Consumer Protection Act

Dodd-FrankDodd-Frank ActDodd–Frank Act
In 2012, CHIPS was designated a systemically important financial market utility (SIFMU) under Title VIII of the Dodd–Frank Act, which means that CHIPS is subject to heightened regulatory scrutiny by the Federal Reserve Board.

United States Department of the Treasury

Treasury DepartmentDepartment of the TreasuryTreasury
In 1918, the Banks established a proprietary telecommunications system to process funds transfers, connecting all 12 Reserve Banks, the Federal Reserve Board and the U.S. Treasury by telegraph using Morse code.

Morse code

MorseCWMorse-code
In 1918, the Banks established a proprietary telecommunications system to process funds transfers, connecting all 12 Reserve Banks, the Federal Reserve Board and the U.S. Treasury by telegraph using Morse code.

Telegraphy

telegraphtelegramcable
Starting in the 1920s up until the 1970s, the system remained largely telegraphic; however as technology improved, they began to make the shift from telegraphy towards telex, then to computer operations and then to proprietary telecommunications networks.

Telex

TWXTeletypewriter Exchange Serviceautomatic telex service
Starting in the 1920s up until the 1970s, the system remained largely telegraphic; however as technology improved, they began to make the shift from telegraphy towards telex, then to computer operations and then to proprietary telecommunications networks.

Internet Protocol

IPInternet Protocol (IP)IP-based
More recently, the Reserve Banks have taken advantage of the flexibility and efficiency that Internet protocol (IP) and distributed processing technologies offer.

Distributed Processing Technology

distributed processing technologies
More recently, the Reserve Banks have taken advantage of the flexibility and efficiency that Internet protocol (IP) and distributed processing technologies offer.

Depository Institutions Deregulation and Monetary Control Act

bank deregulation in 1980
The Depository Institutions Deregulation and Monetary Control Act of 1980 required most Federal Reserve Bank financial services to be priced, while giving nonmember depository institutions direct access to these priced services.

Electronic funds transfer

money transferEFTelectronic check
More recently with the advancement in mobile technologies, many alternative modes of electronic funds transfers have emerged.

PayPal

PayPal Holdings PayPal Inc.breakup of eBay
Many of these systems like PayPal, Venmo and Google Pay are accessible on mobile devices and are much cheaper for consumers than a wire sent via the Fedwire system.

Venmo

Many of these systems like PayPal, Venmo and Google Pay are accessible on mobile devices and are much cheaper for consumers than a wire sent via the Fedwire system.

Google Pay

Pay
Many of these systems like PayPal, Venmo and Google Pay are accessible on mobile devices and are much cheaper for consumers than a wire sent via the Fedwire system.

Society for Worldwide Interbank Financial Telecommunication

SWIFTSociety for Worldwide Interbank Financial Telecommunication (SWIFT)SWIFT network
Society for Worldwide Interbank Financial Telecommunication (SWIFT)

ABA routing transit number

routing numberbank numberRouting Numbers
The ABA RTN is necessary for the Federal Reserve Banks to process Fedwire funds transfers, and by the ACH Network to process direct deposits, bill payments, and other such automated transfers.

Federal Reserve

FedFederal Reserve SystemFederal Reserve Banks
The Reserve Banks' wholesale services include electronically transferring funds through the Fedwire Funds Service and transferring securities issued by the U.S. government, its agencies, and certain other entities through the Fedwire Securities Service.