The basic steps to wire money from your bank

To send a wire transfer, you need to contact your bank with the recipient's banking details, authorize the transfer, and pay any fees. Most banks let you start a wire through online banking, by phone, or in person at a branch. The process takes about 15 minutes to set up, though the money itself may take one to three business days to arrive, depending on whether it's going to a domestic or international account.

You'll need the recipient's full name, bank account number, and routing number (for domestic transfers in the US) or SWIFT code (for international transfers). Some banks also ask for the recipient's address. Have this information ready before you contact your bank, because you can't complete the transfer without it.

Wire transfers are nearly impossible to reverse once sent, so double-check all details before you authorize the payment. If you make a mistake with the account number or routing number, the money may go to the wrong person or be rejected by the receiving bank. Banks are not responsible for errors you provide.

Key Takeaways

  • You can initiate a wire transfer through your bank's online portal, by phone, or at a branch, and you'll need the recipient's account number and routing number (or SWIFT code for international transfers).
  • Domestic wire transfers typically arrive within one to three business days, while international transfers may take longer depending on the receiving country and bank.
  • Wire transfer fees vary by bank and usually range from $15 to $50 for domestic transfers and $25 to $75 for international transfers.
  • Once you authorize a wire transfer, you cannot cancel or reverse it, so verify all recipient details before confirming the payment.
  • Some banks limit the amount you can wire per day or per transaction, so check your account restrictions before attempting a large transfer.

Where to get the recipient's banking information

The recipient should provide you with their account number and routing number directly. For domestic transfers, ask them for their bank's routing number (a nine-digit code) and their account number. If they don't have this information, they can find it on a check, by logging into their online banking, or by calling their bank.

For international transfers, you'll need the recipient's SWIFT code (also called a BIC code), which identifies their bank worldwide. The recipient can find this on their bank's website or by asking their bank directly. Some international transfers also require an IBAN (International Bank Account Number), which is a standardized account number used in many countries outside the US.

Never wire money to someone you don't know or trust based on their word alone. Scammers often pose as contractors, rental agents, or family members in emergencies and ask for wire transfers to accounts they control. If you're unsure about a request, contact the person through a phone number or email you know is legitimate, not one they provided in their message.

Fees and costs you'll pay

Your bank will charge a fee for sending a wire transfer. Domestic wire transfer fees typically range from $15 to $50, depending on your bank and whether you use online banking or visit a branch. International wire transfers usually cost more—typically $25 to $75—because they involve additional processing through correspondent banks.

Some banks charge different fees based on how you initiate the transfer. Online wire transfers are sometimes cheaper than those made by phone or in person. A few banks waive wire fees for customers who maintain a minimum account balance or have a premium account type, so check with your bank about any discounts you might may have access to for.

The recipient's bank may also charge a fee to receive the wire transfer, though this is less common in the US. International transfers often involve fees at both ends. Ask the recipient's bank whether they charge a receiving fee before you send the money, so the recipient knows how much will actually arrive.

Timing: how long a wire transfer takes

Domestic wire transfers (between US banks) usually arrive the same business day or within one business day if sent after your bank's cutoff time. Most banks have a cutoff time in the afternoon—often 2 p.m. or 3 p.m.—after which transfers are processed the next business day. Weekends and bank holidays extend the timeline.

International wire transfers take longer because they pass through multiple banks and may involve currency conversion. A transfer to Canada or Mexico typically arrives within one to two business days. Transfers to Europe, Asia, or other regions may take three to five business days or longer, depending on the receiving country's banking system.

If you need money to arrive by a specific date, send it at least one business day earlier than you think you need it. Don't assume a wire sent on Friday will arrive Monday; many banks don't process international transfers on weekends. Contact your bank about their specific cutoff times and processing schedule before you send.

Wire transfer limits and restrictions

Many banks set daily or per-transaction limits on how much you can wire. These limits vary widely—some banks allow $10,000 per day for online transfers but $25,000 or more if you call or visit a branch. New accounts often have lower limits than established ones. Check your account settings or call your bank to find out what your limit is.

If you need to send more than your limit, you have a few options: you can wire the maximum amount and send the rest in a second transfer the next day, you can call your bank to request a temporary increase, or you can visit a branch in person (which sometimes allows higher amounts). Some banks will increase your limit if you ask, especially if you're a long-standing customer.

International wire transfers may have additional restrictions. Some countries limit how much money can be sent out in a single transaction or per year. If you're sending a large amount internationally, contact your bank ahead of time to make sure the transfer is possible and to understand any reporting requirements.

Domestic versus international wire transfers

A domestic wire transfer stays within the US banking system and uses the recipient's routing number and account number. These transfers are faster, cheaper, and more straightforward because they don't require currency conversion or coordination between multiple countries' banking systems.

An international wire transfer leaves the US and enters another country's banking system. It requires a SWIFT code and often an IBAN, and it may involve currency conversion if you're sending money in a different currency than your account holds. International transfers cost more, take longer, and carry a higher risk of delays or errors because they pass through multiple intermediary banks.

If you're sending money to someone in another country, ask your bank whether a wire transfer is the best option. Some banks offer international money transfer services that may be cheaper or faster than a traditional wire, especially for smaller amounts. Services like PayPal, Wise, or OFX may also be available, though they have their own fees and timing.

What to do if something goes wrong

If you realize you made a mistake after sending a wire transfer, contact your bank immediately. Domestic wire transfers can sometimes be recalled if the receiving bank hasn't released the funds yet, but this is not may provide. International transfers are much harder to reverse. The sooner you contact your bank, the better your chances of stopping the transfer.

If the money went to the wrong account, your bank can file a trace to try to locate it and ask the receiving bank to return it. This process can take weeks or months, and there's no may provide the money will be recovered. This is why verifying all details before you send is so important.

If you sent money to a scammer, report it to your bank and to the FBI's Internet Crime Complaint Center (IC3) at ic3.gov. Your bank may be able to contact the receiving bank and ask them to freeze the account, but recovery is not certain. Document everything—the scammer's contact information, the messages they sent, and the wire transfer confirmation—and provide it to your bank and the IC3.

Frequently Asked Questions

Can I cancel a wire transfer after I send it?

Cancellation is possible only if you contact your bank immediately, before the receiving bank releases the funds. For domestic transfers, this window is usually a few hours. For international transfers, it may be even shorter. Once the receiving bank releases the money, cancellation is not possible. Your bank can file a trace to try to recover the funds, but this process is slow and not may provide to work.

What's the difference between a wire transfer and an ACH transfer?

A wire transfer moves money directly between banks and usually arrives within one business day, but costs $15 to $50. An ACH transfer is slower (typically three to five business days) but cheaper or free, and is often used for recurring payments like payroll or bill payments. Wire transfers are better for urgent or large payments; ACH transfers are better for routine payments where timing is flexible.

Do I need to report a wire transfer to the IRS?

If you're sending money as a gift or personal payment, you don't report it to the IRS. If you're sending money as payment for goods or services and the amount is $20,000 or more, your bank may file a Currency Transaction Report (CTR) with the IRS—this is routine and not a sign of wrongdoing. If you're unsure whether your transfer requires reporting, ask your bank.

What information does the recipient see when they receive a wire transfer?

The recipient sees the amount, the date it arrived, and any reference information or memo you included with the transfer. They typically do not see your full account number, only the bank it came from. If you included your name or a note in the transfer details, they will see that. Keep this in mind if you want the transfer to be private.

Can I wire money internationally from my phone?

Most banks allow you to initiate a wire transfer through their mobile app, but some require you to call or visit a branch for international transfers. Check your bank's app or call them to confirm. Even if you can start the transfer on your phone, your bank may require you to verify it by phone or in person before processing it.