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Wire Transfer Job Description

Growth Trends for Related Jobs

A wire transfer clerk or specialist performs all transactions required to transfer money and securities between one party and another and from one location to another. This individual may be employed at a financial institution, such as a retail bank, or work for a money transfer service provider, such as MoneyGram or Western Union.

Performing Transactions

Using a computer, a wire transfer clerk moves money, stocks and other securities from one location and/or financial institution to another.

Payment to Customers

When a transaction is received, a wire transfer clerk may physically pay money to customers of the institution.

Keeping Records

In an effort to maintain compliance with his employer and any regulatory authority, such as the Security and Exchange Commission (SEC), a wire transfer clerk keeps meticulous records of all transactions made, noting the sender, receiver and value of the transaction.

Education Needed

Some employers require those who wish to obtain employment as a wire transfer clerk to possess an associate’s degree.

Annual Income

In 2009, the average annual salary of a wire transfer clerk employed in the United States is $29,905, according to Salary.com.