Wire transfer
In short
A wire transfer is a direct electronic payment sent from one bank account to another, often used for one-off or large international payments to freelancers and employees.
'Wire transfer' is the general term for a direct bank-to-bank payment; an international wire usually runs on the SWIFT network. Employers may prefer wires for a single onboarding bonus or large invoice, while ongoing freelance income is more often paid through a lower-fee platform like Wise or Payoneer to avoid repeat wire fees.