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What is a wire transfer and SWIFT code?

Wire Transfer

A wire transfer is an electronic payment service for transferring funds by wire, for example, through SWIFT, the Federal Reserve Wire Network, or the Clearing House Interbank Payments System.

Swift Code

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) Code is a unique identification code that may be required by some banks, broker-dealers, and investment managers for the completion of international wire transfers.

Business accounts can process wires via Online Banking and the LendingClub mobile app. Click on Transfer & Pay, and you’ll see an option for Wire.

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