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Money Transfer: Fast Money Wherever You Are Money transfer is the process where money is transferred electronically with no actual money physically involved. Also called wire transfer and later evolving to electronic funds transfer or EFT, it generally involves transferring large sums of money, across an immense network of hundreds of banks all over the world. EFT transactions also include automated teller machine or ATM transactions and other such processes using the phone and other electronic means. In the United States, the Clearing House Interbank Payment System or Chips and the Federal Reserve Wire Network or federal wire are examples of transfer payment systems. The federal wire has the duty of linking the Federal Reserve offices, the US Treasury, depository institutions and other government agencies. It transfers by wire US government securities, funds as well as supervisory, administrative and monetary policy messages. Currency Converter: Making the Task of Currency Conversion Fast and Easy The difference in money currencies in different countries has been causing headache among people, especially travelers. If you were having a vacation in a different country, you would probably bring money from your home country. However, frustration strikes in as you realize that you cannot buy anything with your home place’s currency. Your money needs to be converted into the currency of that place. This is where the currency converter becomes truly useful.