How to Wire Transfer Money: Steps, Fees, and Timing

To wire transfer money, you need the recipient’s full legal name and address, their bank account number, the receiving bank’s routing number (for domestic transfers) or SWIFT/BIC code (for international), and a government-issued photo ID. Once you have those details, you can send the wire through your bank’s website, mobile app, or a branch, and a domestic transfer typically arrives the same business day. The two things that matter most are accuracy and fraud verification, because once a wire leaves your account, getting it back is extremely difficult.

What You Need Before You Start

Every wire requires two sets of information: who’s receiving the money, and where their bank is.

For the recipient, collect their full legal name and physical street address. Federal anti-money laundering rules require your bank to record this information on any transfer of $3,000 or more.¹ You also need the recipient’s bank account number and the receiving bank’s name and address.

For a domestic transfer, you need the receiving bank’s nine-digit routing number.² Here’s a detail that trips people up: many banks use a different routing number for wires than the one printed on checks. Ask your recipient to confirm the wire-specific routing number with their bank directly rather than reading it off a checkbook.

For an international transfer, you need a SWIFT/BIC code, an 8- to 11-character identifier assigned to the recipient’s bank. “SWIFT code” and “BIC” refer to the same thing; BIC (Business Identifier Code) is the official international standard.³ Many countries also require an International Bank Account Number (IBAN), which identifies the specific account rather than just the bank. If you’re sending to Europe, the Middle East, or parts of Asia, plan on providing both.

Bring valid government-issued photo identification, such as a driver’s license or passport.¹ If you’re sending in person at a bank where you aren’t an established customer, the institution must also collect your taxpayer identification number, or for non-citizens, a passport number and country of issuance. Online wires pull your identity from the account profile already on file.

Sending the Wire Step by Step

Most banks let you initiate a wire through their online banking portal, a mobile app, or in person at a branch. Digital wires are usually faster and sometimes a few dollars cheaper than branch-initiated ones.

Online or Mobile

After logging in, look for a “wire transfer” or “send money” option, usually under transfers or payments. The form asks for all the recipient information above. Many platforms include a memo or reference number field, which matters if your recipient expects a specific invoice number or escrow reference.

Before the transfer goes through, you’ll see a summary screen with every detail. Read it carefully, character by character on the account number and routing number. A single wrong digit can send your money to the wrong account or leave it stuck. After you confirm, the bank will almost certainly require multi-factor authentication: a one-time code sent by text, email, or an authenticator app. That code is your formal authorization to move the funds.

In Person at a Branch

A teller provides a paper wire transfer form with the same fields. You fill it out and sign it in front of the bank representative, who processes it and gives you a printed receipt. Keep that receipt. In-person wires can make sense for very large transfers or first-time international wires where you want someone to check the details before the money moves. Banks may also require a branch visit for transfers above the daily online limit set for your account type.

What It Will Cost

Banks charge flat fees for outgoing wires, and the sender pays at the time the wire is submitted. Domestic outgoing wires at major banks typically run $25 to $30, though some charge as little as $20 and others up to $40. International outgoing wires generally cost $35 to $50, with some banks charging up to $75 depending on the destination country and currency.

The recipient usually pays a fee too. At traditional banks, incoming wire fees typically run $15 to $20 for both domestic and international transfers. Many online banks and credit unions waive incoming wire fees entirely, which is worth knowing if your recipient has options for where to receive funds.

International wires carry an additional cost that catches people off guard. When your bank doesn’t have a direct relationship with the recipient’s bank, the wire passes through one or more correspondent banks, each of which may deduct a small processing fee (sometimes called a “lifting fee”) from the transfer amount. The recipient ends up with less than you sent. Wire 500 euros, and the recipient might receive 450 after intermediary deductions. Some banks let you cover these fees yourself for an additional charge so that the full amount arrives. Ask about that option before sending.

When the Money Will Arrive

Domestic wires settle the same business day when submitted before your bank’s cutoff. Fedwire, which processes domestic bank-to-bank wires, accepts customer transfers until 7:00 p.m. Eastern Time on business days.⁴ Your individual bank will have an earlier internal cutoff, often between 3:00 and 5:00 p.m. local time, after which the wire is processed the next business day. Wires submitted on weekends or federal holidays don’t move until the next business day.

International wires typically take one to three business days to arrive, depending on the destination country, time-zone differences, and how many intermediary banks handle the transfer. Transfers involving currency conversion or stricter regulatory screening can take longer. Your receipt will contain tracking identifiers your bank can use to pinpoint exactly where the funds are if a wire doesn’t arrive on time. Most banks also send a text or email notification once the receiving bank acknowledges receipt.

Verify Everything Before You Send

Wire fraud is one of the most common financial crimes in the country, and once you send a wire to a scammer, the money is almost always gone. The FBI identifies business email compromise, where criminals impersonate a vendor, executive, or title company using spoofed email addresses, as a leading method for diverting wire transfers.⁵ Real estate transactions are a particular magnet: a buyer receives what looks like legitimate instructions from the title company, wires a six-figure down payment, and the money goes to a criminal.

The single most effective protection is to verify wiring instructions through a separate communication channel. If you receive wire details by email, call the sender at a phone number you already have on file, not a number from that same email. Watch for subtle changes in email addresses, like an extra letter or a swapped character. Be deeply suspicious of any last-minute changes to previously confirmed wire instructions. Scammers rely on urgency, so treat any “rush” request to change account details as a red flag rather than a reason to skip verification.

If you realize you’ve sent money to a fraudulent account, speed determines whether you can recover it. Contact your bank’s fraud department immediately and ask them to request a recall. Recovery rates drop into the single digits after the first 24 hours. File a complaint with the FBI’s Internet Crime Complaint Center at ic3.gov, which can help coordinate account freezes in some cases.⁶

If You Need to Cancel or Fix a Mistake

This is where many people are unpleasantly surprised: traditional domestic wires have essentially no federal cancellation right. The Electronic Fund Transfer Act explicitly excludes bank-to-bank wire transfers from its consumer protection framework.⁷ Once your bank releases a domestic wire, your only option is to ask the bank to request a voluntary recall from the receiving institution, which that bank is not legally required to honor. If the funds have already been withdrawn from the destination account, recovery is unlikely.

International consumer transfers get more protection. Federal regulations classify most international wires sent by consumers as “remittance transfers,” which are covered by Subpart B of Regulation E.⁸ Under those rules, you have the right to cancel within 30 minutes of making payment, as long as the funds haven’t already been deposited or picked up by the recipient.⁹ The 30-minute window applies regardless of business hours. If you cancel in time, the provider must refund the full amount, including fees, within three business days.

Before you send an international remittance over $15, the provider must give you a pre-payment disclosure showing the exchange rate, all fees, any third-party charges, and a statement of your cancellation and error-resolution rights.¹⁰ Domestic wires don’t come with these protections, which is one more reason to triple-check every detail before authorizing a domestic transfer.

Reporting Thresholds That Affect You

Two dollar amounts change what your bank will ask of you. On any wire of $3,000 or more, the Bank Secrecy Act requires your bank to collect and retain detailed records about both sender and recipient, including names, addresses, and account numbers.¹¹ If you’re sending from a bank where you don’t have an account, expect to provide additional identification, including your Social Security number or taxpayer identification number.¹

If you fund a wire with more than $10,000 in physical currency brought to the bank, the institution must file a Currency Transaction Report.¹² Neither threshold prevents you from sending; they just mean more paperwork and a slower trip to the counter. Plan accordingly.

1
FFIEC BSA/AML Manual. Assessing Compliance with BSA Regulatory Requirements – Funds Transfers Recordkeeping
2
American Bankers Association. ABA Routing Number: Find Your Number, and Search Database
3
Swift. Business Identifier Code (BIC)
4
Federal Reserve Financial Services. Wholesale Services Operating Hours and FedPayments Manager
5
Federal Bureau of Investigation. Business Email Compromise
6
Federal Bureau of Investigation. Internet Crime Complaint Center (IC3)
7
Office of the Law Revision Counsel. 15 US Code 1693a – Definitions
8
Consumer Financial Protection Bureau. Regulation 1005.30 Remittance Transfer Definitions
9
Consumer Financial Protection Bureau. Procedures for Cancellation and Refund of Remittance Transfers
10
eCFR. 12 CFR Part 1005 – Electronic Fund Transfers (Regulation E)
11
eCFR. 31 CFR 1010.410 – Records To Be Made and Retained by Financial Institutions
12
FFIEC BSA/AML InfoBase. Assessing Compliance with BSA Regulatory Requirements – Currency Transaction Reporting