To common users of banking services, money transfers are money transfers. As in, you don’t consider them complex: just a tool to send and receive funds. But then, you face a plethora of terms like bank transfers, wire transfers, electronic payments, online transfers, and so on. And you start to wonder – “is there a difference between all of these?” and “what should I use?”. Well, let’s figure it out together! In this article, Genome will primarily focus on bank transfers and wire transfers and how they differ and compare wire payments to other transfer options as well. Wire transfer:
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Don’t hesitate to talk to us, as your feedback helps us to shape Genome and improve its services. And lately, it’s showing more than ever, as Genome got into the shortlist of EGR B2B Awards in Innovation in payments solution category. Find out more about the Awards in this blog post.