Most transactions between large financial institutions in the United States are handled by

Question

Quizplus · Accepted Answer

Fedwire, also known as the Federal Reserve Wire Network, is a real-time gross settlement system used by financial institutions in the United States to transfer funds between each other. It is the primary system used for large interbank transfers and is an electronic, instant payment method. Checks and ACH transactions are typically used for smaller transactions or payments between individuals and businesses. Currency, also known as cash, is generally used for in-person transactions.

Most Transactions Between Large Financial Institutions in the United States