Wire transfers are a type of electronic funds transfer. They are usually considered the safest way to transfer funds, especially large amounts, to banks in countries overseas. Most large banks belong to a bank network in Belgium called the Society for Worldwide Interbank Financial Telecommunications (SWIFT)[0] that helps to verify and process financial messages, including wire transfers. In order to make a wire transfer to another country, you will need to get some information from the recipient and pay a fee to your bank to process the transfer.