Aug
04
by Miranda Marquit 
Last week, we examined the differences between a wire transfer and an ACH transaction. Wire transfers can be very convenient for a number of purposes, and they are used to save time, and to increase the security of transactions. You can use wire transfers for more than just sending money; wire transfers can be useful in other ways as well.
Because wire transfers are secure, they can provide peace of mind. When a CD matures, many banks and credit unions mail a check. You have to worry about the check being lost in the mail, as well as lose out on interest on the money for several days while you wait for the check to arrive and the funds to clear.