How to send a wire transfer
A wire transfer moves money from your bank account to someone else's account, usually within one business day. You initiate it through your bank — either online, by phone, or in person — and provide the recipient's banking details. Your bank deducts the money immediately and sends it electronically to the receiving bank, which deposits it into the recipient's account.
The process is straightforward if you have the right information, but wire transfers are permanent once sent. Money cannot be recalled if you make a mistake or change your mind, so verify every detail before you confirm the transfer.
Key Takeaways
- You need the recipient's full name, account number, routing number, and bank name before you start; missing or incorrect details will delay or fail the transfer.
- Wire transfers typically cost between $15 and $50 depending on your bank and whether the transfer is domestic or international.
- Domestic wire transfers usually complete within one business day; international transfers can take three to five business days.
- Once you send a wire transfer, you cannot cancel it or get the money back, so confirm all recipient details are correct before you submit.
Gather the recipient's banking information
Before you contact your bank, you need the recipient's details. For a domestic wire transfer (within the United States), collect the recipient's full name exactly as it appears on their bank account, their account number, their bank's routing number, and the bank's name and address.
For an international wire transfer, you will also need the recipient's bank's SWIFT code (an eight or eleven-character code that identifies the bank internationally) and sometimes an IBAN (International Bank Account Number). Ask the recipient to provide these details or check their bank's website. Do not guess or abbreviate names — banks match these details exactly, and a small error can send the money to the wrong account or cause the transfer to fail.
Contact your bank and provide transfer details
Log into your bank's online platform, call the wire transfer department, or visit a branch in person. Most banks offer all three options. Online is usually fastest if your bank's system is straightforward; calling lets you ask questions in real time; visiting in person works if you need to bring documents or prefer to speak face-to-face.
Tell your bank the amount you want to send, the recipient's name and account number, the receiving bank's routing number (or SWIFT code for international transfers), and the bank's name. Your bank will confirm the fee, which typically ranges from $15 to $50 for domestic transfers and $25 to $75 for international transfers. Fees vary by bank and by transfer type, so ask before you commit.
Your bank may ask why you are sending the money. This is standard anti-fraud procedure. Answer honestly — banks are required to ask, and refusing to answer can delay or block the transfer.
Verify all details before you confirm
Before you submit the wire transfer, read back every piece of information to your bank representative or review it carefully on your screen. Check the recipient's name letter by letter, the account number digit by digit, and the routing number completely. A single wrong digit sends the money to a different account, and you will have no way to recover it.
If you are sending money internationally, confirm the SWIFT code and IBAN with the recipient one more time. International transfers are harder to reverse than domestic ones, and mistakes are more common because the information is longer and less familiar.
Complete the transfer and save your confirmation
Once you confirm all details are correct, authorize the transfer. Your bank will deduct the money from your account immediately and provide you with a confirmation number (sometimes called a reference number or transaction ID). Write down this number and save your confirmation email or receipt — you will need it if you ever need to track the transfer or dispute it later.
Your bank will send the money to the receiving bank electronically. For domestic transfers, the money usually arrives within one business day. For international transfers, allow three to five business days, depending on the receiving bank's processing speed and any intermediate banks involved.
Track the transfer if it does not arrive on time
If the money does not arrive by the expected date, contact your bank with your confirmation number. Your bank can check the status with the receiving bank and tell you whether the transfer is still in process, whether it was rejected, or whether there was an error.
If the transfer was rejected because of incorrect details, your bank will usually return the money to your account within a few business days. If the money went to the wrong account because of an error on your part, you will need to contact that bank and ask them to return it — they are not required to do so, but many will if you explain the mistake. If the error was your bank's fault, your bank is responsible for recovering the money.
Understand the costs and limits
Wire transfer fees are not standardized. A domestic wire transfer typically costs $15 to $50; an international wire transfer costs $25 to $75 or more. Some banks charge less if you are a premium customer or if you send the wire through their online platform rather than calling. Ask your bank about its fee structure before you send.
Most banks also set daily or monthly limits on how much you can wire. If you want to send more than your limit, contact your bank to ask whether they can raise it temporarily. Some banks will; others will not. There is no legal maximum for wire transfers, so the limit is your bank's policy.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
Not reliably. Once your bank sends the wire, the money is out of your control. Some banks can attempt to recall it if you ask within a few hours, but the receiving bank is not required to return it. If the transfer has already been deposited into the recipient's account, recall is nearly impossible. Always verify details before you confirm.
What if I send money to the wrong account by mistake?
Contact your bank immediately with your confirmation number. Your bank can try to contact the receiving bank and ask them to return the money, but they cannot force them to do so. If the receiving bank cooperates, the money may be returned within a few days. If not, you may need to pursue legal action, which is expensive and often unsuccessful.
How do I know if the wire transfer went through?
Your bank will give you a confirmation number when you send the wire. Use this number to track the transfer with your bank. The recipient should see the money in their account within one business day (domestic) or three to five business days (international). Ask the recipient to confirm they received it.
Is a wire transfer safer than other payment methods?
Wire transfers are fast and direct, but they are not reversible. Other methods like credit cards or PayPal offer fraud protection and the ability to dispute charges. Use a wire transfer only when you trust the recipient and have verified their banking details independently.
Do I need to report a wire transfer to the IRS?
Wire transfers themselves are not reported to the IRS. However, if you are sending money as a gift over a certain amount, or if the money is income, different rules may apply. Consult a tax professional if you are unsure whether your transfer has tax implications.