Skip to content

Question & Answer

Question: What is the difference between the "Wire Rule" and the "Travel Rule?"

Answer: None. They are two names for the same rule. The rule is now referred to as the Travel rule because its scope is not limited to wires. A variety of funds transfers - not all of them by wire -are subject to this rule. Moreover, the term "wire" was somewhat misleading because transactions subject to Regulation E, Electronic Funds Transfers, are exempt from the rule.

Copyright © 1997 Compliance Action. Originally appeared in Compliance Action, Vol. 2, No. 2, 2/97

First published on 02/01/1997

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics