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A wire signal is a brevity code used by telegraphers to save time and cost when sending long messages. The best-known code was the 92 Code adopted by Western Union in 1859. The code was designed to reduce bandwidth consumption over telegraph lines, thus speeding transmissions by utilizing a numerical code system for frequently used phrases.
Commercial codes were not generally intended to keep telegrams private, as codes were widely published; they were usually cost-saving measures only. Many general-purpose codes, such as the Acme Code and the ABC Code, were published and widely used between the 1870s and the 1950s, before the arrival of transatlantic telephone calls and next-day ...
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s. [1]
Western Union Telegraph Building, lithograph. The Western Union Company is an American multinational financial services corporation headquartered in Denver, Colorado.. Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, [3] the company changed its name to the Western Union Telegraph Company in 1856 after merging with several other telegraph ...
When Western Union was forced to leave the island in 2020, the money transfer business moved to informal channels, using people known as “mulas” to personally carry the cash into the country.
The TWX system and the use of the special US area codes continued until 1981, when Western Union completed the conversion to the Western Union Telex II system. Canada moved its TWX-numbers, as well as Datalink services, to the non-geographic area code 600 , effective October 1, 1993, in exchange for returning 610.
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