The basic steps to wire money
To wire money, you need your bank's wire transfer form, the recipient's bank account details, and the receiving bank's routing number. You fill out the form with the amount, recipient name, and account information, then submit it to your bank in person, by phone, or online. Your bank deducts the money from your account, sends it electronically to the recipient's bank, and the recipient receives it — usually within one business day for domestic transfers.
The exact process depends on whether you are sending money within the United States or internationally, and whether you are using your bank, a credit union, or a money transfer service. Each has different forms, fees, and timing.
Key Takeaways
- Domestic wire transfers typically arrive within one business day and require the recipient's bank account number and the receiving bank's routing number.
- International wire transfers take longer (three to five business days) and require additional information such as the recipient's SWIFT code or IBAN.
- Wire transfer fees vary by bank and service — domestic transfers often cost $15 to $30, while international transfers can cost $35 to $50 or more.
- Once you send a wire transfer, you cannot cancel it if the recipient's bank has already received it, so verify all details before submitting.
Information you need before you start
Gather the recipient's information before you contact your bank. For a domestic wire transfer, you need the recipient's full name, bank account number, and the nine-digit routing number of their bank. The routing number identifies the specific bank branch where the account is held.
For an international wire transfer, you also need the recipient's bank's SWIFT code (an eight or eleven-character code that identifies the bank worldwide) or their IBAN (International Bank Account Number, which varies in length by country). Some banks ask for both. You can find this information by asking the recipient directly, checking their bank's website, or calling their bank.
Have the amount you want to send ready, and know whether you want the recipient to receive the exact amount or whether you will cover the wire fee yourself. Some banks deduct the fee from the amount sent; others charge you separately.
Sending a domestic wire transfer through your bank
Log into your bank's online portal or call the wire transfer department. Most banks offer online wire transfers through their website or mobile app. If you use online banking, look for a "Send Money" or "Wire Transfer" option in the menu.
Fill out the wire transfer form with the recipient's name, account number, routing number, and the amount. Double-check every number — a single digit wrong sends the money to the wrong account. Enter any reference information your recipient needs to identify the payment (such as an invoice number or your name).
Review the fee your bank will charge. Domestic wire transfer fees typically range from $15 to $30, though some banks charge less for online transfers and more for phone or in-person requests. Submit the transfer. Your bank will confirm the transaction with a confirmation number — save this for your records.
Sending an international wire transfer
International wire transfers follow the same basic steps but require more information and take longer. Contact your bank's international wire department or use their online platform if available. You will need the recipient's bank's SWIFT code or IBAN in addition to their account number and name.
Specify the currency you are sending and whether the recipient should receive the exact amount or whether fees should be deducted from what they receive. International wire fees are higher than domestic fees — typically $35 to $50 or more, depending on the bank and destination country. Some banks also charge a percentage of the amount sent.
International transfers usually take three to five business days, though some corridors (common routes between countries) may be faster. Your bank will provide a tracking number so you can check the status.
Using a money transfer service instead of a bank
Money transfer services like Western Union, MoneyGram, and Wise offer alternatives to bank wire transfers. These services often have lower fees for international transfers and faster delivery to certain countries. Wise, for example, specializes in international transfers and uses the real exchange rate rather than a bank's marked-up rate.
The process varies by service. Some let you send money online through their website or app; others require you to visit a physical location. You will still need the recipient's bank account details, but the form and timing differ from a bank wire. Compare fees and delivery times across services before choosing — the cheapest option depends on where you are sending money and how fast you need it to arrive.
What happens after you send the wire
Your bank deducts the money from your account when ready, even though the recipient may not receive it for one or more business days. You will see the transaction in your account history with the confirmation number.
The recipient's bank receives the wire and deposits it into their account. They will see the money in their account balance, usually within one business day for domestic transfers. International transfers may take longer depending on the receiving bank's processing speed.
If something goes wrong — the money does not arrive, or you realize you sent it to the wrong account — contact your bank when ready. If the recipient's bank has not yet received the wire, your bank may be able to cancel it. If the money has already been deposited, you will need to contact the recipient and ask them to return it, or work with both banks to trace and recover the funds. This process is slow and not always successful, which is why verifying details before sending is critical.
Fees and timing comparison
| Transfer Type | Typical Fee | Typical Delivery Time | Information Needed |
|---|---|---|---|
| Domestic bank wire | $15–$30 | 1 business day | Account number, routing number |
| International bank wire | $35–$50+ | 3–5 business days | Account number, SWIFT code or IBAN |
| Money transfer service (international) | Varies; often lower than banks | 1–3 business days | Varies by service |
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
If your bank has not yet sent the wire to the recipient's bank, you may be able to cancel it by contacting your bank when ready. Once the recipient's bank receives the wire, cancellation is not possible. You would need to contact the recipient and ask them to return the funds. Always verify all details before submitting a wire transfer.
What if I enter the wrong account number?
The wire will go to the account number you provided, even if it belongs to someone else. Contact your bank right away — if the receiving bank has not yet processed the deposit, your bank may recall the wire. If the money has been deposited, you will need to work with both banks and the recipient to recover it, which can take weeks or longer.
Why do international wire transfers take so long?
International wires pass through multiple banks and clearing systems in different countries, each with their own processing times. The sending bank, the recipient's bank, and any intermediary banks in between all add processing time. Some corridors are faster than others depending on the countries involved and existing banking relationships.
Is a wire transfer safer than other payment methods?
Wire transfers are fast and direct, but they are not reversible once sent. Other methods like credit cards or checks offer more protection if something goes wrong. Wire transfers are best for situations where you trust the recipient and have verified their account details carefully.
Do I need to go to the bank in person to send a wire?
Most banks allow you to send domestic wire transfers online or by phone without visiting a branch. International transfers may require a phone call or in-person visit to some banks. Check your bank's website or call to see which methods are available for your type of transfer.