Are the U.S. wire transfer systems (the Federal Reserve Wire Network and the Clearing House Interbank Payments System) not efficient? I know that banks charge

Are the U.S. wire transfer systems (the Federal Reserve Wire Network and the Clearing House Interbank Payments System) not efficient? I know that banks charge a lot for customers to wire money to other accounts outside of that bank but I'm not sure whether that is a byproduct of an inefficient system or just a result of greedy banks. Do other countries have regulations that prevent banks from charging large sums for wire transfers?