The basic steps to send a wire transfer

To send a wire transfer, you need four things: your bank account with enough money in it, the recipient's bank details, a way to contact your bank, and about 10 to 30 minutes. The process itself has five steps: gather the recipient's information, contact your bank, provide the money and authorization, confirm the details, and pay any fee your bank charges.

Most people start by calling their bank's wire transfer line or logging into online banking. Some banks let you initiate a wire through their website or mobile app; others require a phone call or an in-person visit. The speed depends on which method you use and what time you send it. A wire sent before 2 p.m. on a business day usually arrives the same day or next business day. A wire sent after that time or on a weekend may not leave until the next business day.

The recipient gets the money in their bank account, not in cash. Wire transfers are direct bank-to-bank, so the receiving bank deposits the funds into the account number you provide. There is no physical check or card involved.

Key Takeaways

  • You need the recipient's full name, bank name, account number, and routing number before you start, so gather this information first.
  • Most banks charge a fee to send a wire transfer, typically between $15 and $50 depending on whether the wire goes domestic or international.
  • Domestic wires (within the United States) usually arrive the same day or next business day if sent before 2 p.m. on a weekday.
  • Once your bank sends the wire, you cannot cancel or reverse it, so double-check the recipient's account number before you authorize the transfer.

What information you need to provide

Before you contact your bank, ask the recipient for their banking details. You need their full legal name exactly as it appears on their bank account, the name of their bank, their account number, and their bank's routing number. For international wires, you may also need the bank's SWIFT code or IBAN (International Bank Account Number), depending on the country.

Write this information down or copy it exactly. A single wrong digit in the account number or routing number can send the money to the wrong account. If you are not sure about any detail, ask the recipient to confirm it in writing or have them contact their bank directly to verify.

If the wire is going to someone outside the United States, also ask whether the receiving bank charges a fee to receive the wire. Some international banks deduct a fee from the amount that arrives, so the recipient may get less than you sent.

How to initiate the wire through your bank

Contact your bank using the phone number on the back of your debit card or the number listed on your bank's official website. Do not use a phone number from a search result or email, because scammers sometimes create fake bank websites and phone numbers. Ask to speak with someone in the wire transfer department.

Tell the bank representative that you want to send a wire transfer. They will ask you for the recipient's name, account number, routing number, and the amount you want to send. They will also confirm your account and verify that you have enough money available. Some banks require you to be a customer for a certain amount of time before you can send a wire, so if this is your first wire, ask whether there are any restrictions.

If your bank offers online wire transfers, you can log into your account and look for a "Send Money" or "Wire Transfer" option. The process is similar: you enter the recipient's details, the amount, and review the information before you submit. Online wires are often faster than phone calls, and you have a written record of what you entered.

Confirming details and authorizing the transfer

Before you authorize the wire, the bank will read back all the details to you: the recipient's name, account number, routing number, the amount, and the fee. Listen carefully and stop the representative if anything is wrong. This is your final note to catch a mistake.

Ask the bank to spell out the recipient's name and repeat the account number digit by digit. If you are using online banking, review the information on the screen and make sure every number matches what the recipient gave you. Take a screenshot or print the confirmation page for your records.

Once you say yes or click confirm, the wire is sent. Your bank will give you a confirmation number. Write this down. If the recipient does not receive the money within the expected timeframe, you will need this number to track the wire.

Wire transfer fees and timing

Domestic wire transfer fees range from $15 to $50, depending on your bank and whether you send the wire online or by phone. International wires usually cost more, often $25 to $75 or higher. Some banks charge extra if the wire goes to a bank outside the United States or if it requires a SWIFT code.

The fee is deducted from your account when the wire is sent. Make sure you have enough money to cover both the amount you are sending and the fee. If you do not, the wire will not go through.

Timing depends on when you send the wire and what day of the week it is. A domestic wire sent before 2 p.m. on a weekday usually arrives the same day or the next business day. A wire sent after 2 p.m., on a Friday afternoon, or on a weekend will not leave your bank until the next business day. International wires take longer, typically three to five business days, because they pass through multiple banks in different countries.

What to do if something goes wrong

If the recipient says they did not receive the money after the expected time has passed, contact your bank when ready with your confirmation number. The bank can check the status of the wire and see whether it was sent, received by the other bank, or stuck in processing.

If the wire was sent to the wrong account by mistake, tell your bank right away. Wires cannot be reversed once they leave your bank, but your bank can contact the receiving bank and ask them to return the money. This process can take days or weeks, and there is no may provide the receiving bank will cooperate. This is why checking the account number before you authorize the wire is so important.

If you suspect fraud or if someone pressured you to send a wire, report it to your bank and to the Federal Trade Commission at reportfraud.ftc.gov. Do not send another wire to the same recipient.

Domestic versus international wire transfers

A domestic wire stays within the United States and uses the recipient's routing number and account number. These wires are faster and cheaper, usually arriving within one business day and costing $15 to $40.

An international wire goes to a bank outside the United States and requires additional information, such as the bank's SWIFT code or the recipient's IBAN. These wires take longer (three to five business days) and cost more ($25 to $75 or higher). The receiving bank may also charge a fee, which is sometimes deducted from the amount that arrives.

Some countries have restrictions on wire transfers or require additional documentation. If you are sending money to a country you are unfamiliar with, ask your bank whether there are any special requirements or delays you should expect.

Frequently Asked Questions

Can I cancel a wire transfer after I send it?

Not usually. Once your bank sends the wire, it is out of your control. Some banks may be able to recall a wire within a few hours of sending it, but this is rare and depends on whether the receiving bank has already processed it. Contact your bank when ready if you need to cancel, but do not count on it working.

What is the difference between a wire transfer and an ACH transfer?

A wire transfer is faster and more expensive. It usually arrives the same day or next business day and costs $15 to $50. An ACH transfer is slower and cheaper. It typically takes three to five business days and costs nothing or a small fee. Use a wire when you need money to arrive quickly; use ACH when you have time and want to save money.

Do I need to tell the IRS about a wire transfer I send?

Not for most personal wire transfers. However, if you send more than $10,000 in a single wire or multiple wires in a short period, your bank is required to file a report with the government. This is routine and does not mean you did anything wrong. If you are sending money for a business or investment, consult a tax professional about reporting requirements.

What happens if I give the wrong account number?

The money will go to the account number you provided, even if it belongs to someone else. Your bank cannot reverse the wire once it is sent. You will need to contact the receiving bank and ask them to return the money, which can take weeks or may not happen at all. Always verify the account number with the recipient before you authorize the wire.

Can I send a wire transfer from my savings account?

Yes. You can send a wire from any bank account you own, whether it is a checking account, savings account, or money market account. The process is the same, and the fee applies regardless of account type.