Question

A wire that a member sends on a regular basis to the same individual or corporation is called a .... wire transfer.

A. recurring
B. domestic
C. international
D. none of the above

Answer 1

A wire transfer sent regularly to the same recipient is known as a recurring wire transfer, typically set up for payments like mortgages or subscriptions.

Step-by-step explanation:

The wire transfer that a member sends on a regular basis to the same individual or corporation is called a recurring wire transfer.

This type of transfer is set up to occur at regular intervals—be it weekly, monthly, or any other period agreed upon by the sender and the recipient. Recurring wire transfers are common for routine payments such as mortgage payments, subscription services, or periodic payments to contractors for ongoing service agreements.