To send a bank transfer, you need the recipient’s full legal name, their address, the receiving bank’s name, the bank’s routing number, and the account number. For an international wire, add a SWIFT or BIC code, usually an International Bank Account Number (IBAN), the currency you want the recipient to receive, and in some countries a purpose-of-payment code. Those are the details you need for a bank transfer, and getting any single character wrong can send your money to a stranger.
Core Details for a Domestic Transfer
Every domestic transfer, whether it moves by ACH or by wire, runs on the same five pieces of information about the person or business receiving the money.
- Recipient’s full legal name. It must match the name on the account exactly. For a business, use the legal entity name, not a trade name or DBA.
- Recipient’s address. A residential or business street address for an individual; the principal place of business for a company. For wires of $3,000 or more, federal regulations require the sending bank to include this in the transmittal order under the Bank Secrecy Act’s Travel Rule. Most banks ask for it on smaller transfers too.1eCFR. 31 CFR 1010.410 – Records to Be Made and Retained by Financial Institutions
- Receiving bank’s name. The official name of the financial institution holding the account.
- Routing number. A nine-digit number identifying the bank in the U.S. payment system. Many banks use different routing numbers for ACH and for wires, so confirm which type of transfer you’re sending and ask the recipient for the matching number. You can find routing numbers at the bottom left of a paper check, in the bank’s online portal, or by calling the bank directly.2FFIEC BSA/AML InfoBase. Assessing Compliance with BSA Regulatory Requirements – Funds Transfers Recordkeeping
- Account number. The specific account that should receive the funds. Enter it without spaces, dashes, or other formatting.
A useful sanity check: most transfer forms auto-populate the bank’s name after you enter the routing number. If the name that appears isn’t the bank your recipient told you about, stop and verify before going any further.
What International Wires Add
International wires require everything a domestic transfer does, plus several codes that route money through the global banking network.
SWIFT or BIC Code
The SWIFT code, also called a Business Identifier Code (BIC), is the international equivalent of a routing number. It is 8 or 11 characters. The first eight identify the bank, country, and city. An optional three-character suffix identifies a specific branch; without it, the transfer routes to the bank’s primary office.3Swift. Business Identifier Code (BIC) The recipient can get the code from their branch, their statements, or the bank’s website.
IBAN
For transfers to most of Europe, the Middle East, and parts of Africa and the Caribbean, you also need the recipient’s International Bank Account Number. An IBAN runs up to 34 alphanumeric characters and includes a two-letter country code, two check digits, and the recipient’s bank and account details in a standardized format. Length varies by country; a German IBAN is 22 characters, a Maltese IBAN is 31. Sending to a country that requires an IBAN without one will get the transfer rejected or delayed by an intermediary bank.
Currency, Intermediary Bank, and Purpose
Beyond the identifiers, international wires often need a few more pieces of information.
- Transfer currency. Specify whether you’re sending U.S. dollars or the local currency. Guess wrong and the recipient absorbs an unintended conversion fee, or the bank bounces the transfer back.
- Receiving bank’s branch address. The physical location of the branch where the account is held, for anti-money-laundering compliance.
- Intermediary bank details. If your bank has no direct relationship with the receiving bank, the transfer routes through a correspondent bank. In that case you may need the intermediary bank’s name and SWIFT code. The recipient’s bank can tell you whether this applies.
- Purpose of payment code. Several countries in South America, Central Asia, and parts of Africa require a code or written explanation for why the money is being sent. Without it, the wire can be held or returned at the destination.
Capitalization matters on SWIFT codes and IBANs. Enter them in all capital letters and check every character against what the recipient provided.
Which Transfer Type Are You Sending?
The details above cover both ACH and wire transfers, but the two methods behave very differently once you hit send, and that affects how carefully you need to verify.
Domestic wires settle the same day through Fedwire.4Federal Reserve Financial Services. Fedwire Funds Service Standard ACH takes one to three business days, with Same Day ACH available for payments up to $1 million per transaction.5Federal Reserve Financial Services. Same Day ACH Resource Center International wires generally take one to two business days.
ACH is typically free or carries a nominal fee. Domestic outgoing wires run roughly $25 to $30 at most banks. International outgoing wires range from free at some online banks to around $75 at traditional institutions. Many banks also charge $15 to $25 on incoming wires.
The bigger difference is reversibility. ACH transfers can be recalled within five business days for errors like a wrong account number, and unauthorized ACH debits can be disputed for up to 60 days. Wire transfers are essentially final once the receiving bank accepts them. Your bank can request a recall, but the receiving bank has no obligation to return the funds. That is why entering wire details requires a level of care that routine online bill pay does not.
Use ACH for recurring payments, payroll, and routine transfers where same-day delivery isn’t essential. Use a wire when you need guaranteed same-day settlement, when the amount is large (such as a home down payment), or when the recipient requires one.
Verify Before You Send
Review every field on the transfer form against the original information the recipient gave you. Compare character by character. Don’t just glance. Your bank will require multi-factor authentication, usually a one-time code by text or authenticator app, because once a wire is authorized it’s gone.
The single most effective fraud defense is this: never trust wiring instructions received by email alone. Scammers impersonate real estate agents, employers, and vendors, sending “updated” instructions that route to accounts they control. The FBI identifies business email compromise as one of the most financially damaging online crimes, with scammers spoofing addresses using small variations (swapping a letter, adding a period) or using malware to insert themselves into legitimate invoice threads.6Federal Bureau of Investigation. Business Email Compromise Before sending any wire, call the recipient at a number you already have on file (not one from the same email) and verbally confirm every detail. Two minutes of verification prevents most wire fraud losses.
Save the confirmation number your bank issues after the transfer is submitted. You can track status through your transaction history.
If You Entered Something Wrong
What you can do depends on the type of transfer and how fast you move.
For international remittance transfers sent through a bank or money transfer provider, federal law gives you a 30-minute cancellation window at no cost, as long as the recipient hasn’t picked up the funds and you give the provider enough information to identify the transaction.7eCFR. 12 CFR 1005.34 – Procedures for Cancellation and Refund of Remittance Transfers If you scheduled the transfer in advance, you can cancel up to three business days before the scheduled date. A successful cancellation requires a full refund of the amount and fees within three business days.8Consumer Financial Protection Bureau. Can I Cancel an International Money Transfer?
Domestic wires have no equivalent federal cancellation right. Your only option is to ask your bank to request a recall from the receiving institution. The sooner you call, the better your chances. Once the funds have been credited to the recipient’s account, there’s no guarantee of return.
ACH is the most forgiving of the three: a sender can request a reversal within five business days for errors, and unauthorized debits can be disputed for up to 60 days.
If you suspect a fraudulent transfer has already gone through, call your bank immediately to request a recall, then report the fraud at ReportFraud.ftc.gov. If your bank won’t help, file a complaint with the Consumer Financial Protection Bureau.9Federal Trade Commission. ReportFraud.ftc.gov – FAQ The difference between calling within an hour and calling the next morning can be the difference between getting your money back and losing it for good.