The plural of transfer; movements of something from one place, person, or situation to another.
From Latin 'transferre' meaning 'to carry across', composed of 'trans-' (across) and 'ferre' (to carry). The word entered English in the 14th century, initially used in legal contexts for property transfers.
In banking, the concept of electronic transfers revolutionized finance - what once took days by mail or physical transport now happens in milliseconds across the globe. The first electronic fund transfer occurred in 1918 via telegraph between Federal Reserve banks.
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