What you need before you start a wire transfer

A bank wire transfer moves money directly from your bank account to someone else's account, usually within one business day. Before you begin, you need the recipient's full name, bank name, account number, and routing number. If the recipient's bank is outside the United States, you will also need their SWIFT code or IBAN (International Bank Account Number), depending on the country.

Confirm these details with the recipient in writing—a text, email, or screenshot—because a single wrong digit in the account number can send your money to the wrong person. Once sent, a wire transfer is extremely difficult to reverse. You also need to know how much money you are sending, because wire fees vary by amount and destination, and some banks charge between $15 and $50 per transfer.

Check your own bank account to make sure you have enough money to cover both the transfer amount and the fee. Some banks deduct the fee from your account automatically; others add it to the total you are sending. Ask your bank which applies to you before you initiate the transfer.

Key Takeaways

  • You need the recipient's full name, account number, routing number, and bank name; for international transfers, you also need their SWIFT code or IBAN.
  • Wire transfers typically arrive within one business day for domestic transfers and two to five business days for international ones, though timing depends on the receiving bank.
  • Wire fees range from $15 to $50 or more, and you should confirm with your bank whether the fee is deducted from your account or added to the amount the recipient receives.
  • Once a wire is sent, it cannot be reversed; if you send money to the wrong account, you must contact your bank and the receiving bank to attempt recovery, which is not may provide.
  • You can initiate a wire through your bank's website, mobile app, phone line, or in person at a branch, depending on what your bank offers.

How to send a wire through your bank's website or app

Most banks allow you to send a domestic wire through their online banking portal or mobile app. Log in to your account, look for a section labeled "Send Money," "Transfers," or "Wire Transfer," and select the option to send a wire. You will be asked to enter the recipient's name, account number, routing number, and bank name.

Some banks require you to add the recipient as a "payee" before you can send them money. This is a one-time step that takes a few minutes. After you add them, you can send them money multiple times without re-entering their information. Enter the amount you want to send and review the fee your bank will charge. Then confirm the transfer—most banks will send you a confirmation number via email or text message.

Domestic wires sent before your bank's cutoff time (usually 2 p.m. or 3 p.m. on a business day) typically arrive the same day or the next business day. If you send a wire after the cutoff or on a weekend, it will process on the next business day. International wires take longer—usually two to five business days—because they pass through multiple banks and currency exchanges.

Sending a wire by phone or at a branch

If you do not use online banking or prefer to speak with someone, you can call your bank's customer service line and ask to send a wire transfer. Have the recipient's information ready when you call. The representative will verify your identity, confirm the details, and process the transfer over the phone. You will receive a confirmation number.

You can also visit a branch in person and ask a teller to send a wire. Bring a photo ID and have the recipient's information written down. The teller will enter the details into the system, confirm the fee, and process the transfer. This method is useful if you are sending a large amount or if you want to hand over cash to be wired, though not all banks accept cash for wire transfers.

Phone and in-person wires follow the same timelines as online wires: domestic transfers arrive the same day or next business day if sent before the cutoff, and international transfers take two to five business days.

Understanding wire transfer fees and limits

Domestic wire transfer fees typically range from $15 to $30, though some banks charge more. International wire fees are higher—usually $35 to $50 or more—because the money passes through correspondent banks in other countries, and each one may take a small cut. Some banks charge a flat fee; others charge a percentage of the amount you are sending.

Ask your bank whether the fee comes out of your account or is added to what the recipient receives. If the fee is added to the transfer amount, the recipient will get less money than you intended to send. If it comes out of your account, you will need enough money to cover both the transfer and the fee.

Most banks have daily wire transfer limits—commonly $5,000 to $25,000 per day for online transfers, though limits are higher for phone or in-person transfers. If you need to send more than your daily limit, you can split the transfer across multiple days or call your bank to request a temporary increase. Some banks allow you to raise your limit online; others require a phone call.

What to do if a wire transfer goes to the wrong account

If you realize you sent money to the wrong account, contact your bank immediately—do not wait. Call the customer service number on the back of your card or visit a branch. Tell them the wire was sent in error and provide the confirmation number. Your bank can attempt to recall the wire, but success depends on whether the receiving bank has already released the funds.

If the receiving bank has not processed the transfer yet, your bank can often stop it. If the money has already been deposited, your bank will contact the receiving bank and ask them to reverse the transfer. The receiving bank is not legally required to comply, but most will cooperate if the transfer was clearly sent in error. This process can take several days to several weeks.

If the receiving bank refuses to reverse the transfer or cannot locate the funds, you may need to file a dispute with your bank or pursue the matter through small claims court. This is why confirming the recipient's information before sending is so important—recovery is not may provide, and you may lose the money.

Domestic versus international wire transfers

A domestic wire transfer stays within the United States and uses the recipient's routing number and account number. These transfers are faster and cheaper, usually arriving within one business day and costing $15 to $30.

An international wire transfer goes to a bank outside the United States and requires the recipient's SWIFT code (a code that identifies their bank worldwide) or IBAN (their account number in international format). International wires take two to five business days because they pass through multiple banks and currency exchanges. Fees are higher—$35 to $50 or more—and the receiving bank may charge an additional fee on their end.

When sending an international wire, ask the recipient which format their bank prefers: SWIFT code or IBAN. Some banks accept both; others accept only one. You may also need to provide the recipient's address and the purpose of the transfer (such as "payment for services" or "family support"). Some countries require this information for regulatory reasons.

Wire transfer safety and fraud prevention

Wire transfers are popular with scammers because they are fast and difficult to reverse. Before you send a wire, verify the recipient's information through a separate channel—call them directly, send them a text, or email them—rather than relying on information they provided in a previous message. Scammers often pose as contractors, landlords, or family members and request wire transfers to fake accounts.

Your bank will not ask you to wire money to verify your account or confirm your identity. If someone claiming to be from your bank asks you to wire money, hang up and call your bank directly using the number on your card. Do not use a phone number provided by the caller.

If you believe you have been the victim of wire fraud, contact your bank and the FBI's Internet Crime Complaint Center (IC3) at ic3.gov. Report the fraud to your bank as soon as possible; the sooner you report it, the better the chance your bank can recover the funds or prevent the recipient from withdrawing them.

Frequently Asked Questions

How long does a wire transfer take?

Domestic wires typically arrive the same day or the next business day if sent before your bank's cutoff time (usually 2 p.m. or 3 p.m.). International wires take two to five business days because they pass through multiple banks and currency exchanges. Weekends and holidays add extra time.

Can I cancel a wire transfer after I send it?

You can attempt to cancel a wire only if you contact your bank immediately after sending it. If the receiving bank has not yet processed the transfer, your bank may be able to stop it. Once the money is deposited, cancellation is unlikely. This is why confirming the recipient's information before sending is critical.

What if the recipient's bank charges a fee?

Some banks charge a fee to receive incoming wire transfers, usually $10 to $15. This fee is deducted from the money the recipient receives, so they get less than you sent. Ask the recipient whether their bank charges an incoming wire fee before you send the transfer, and factor that into the amount you send if needed.

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 income (such as payment for work or a loan), that income may be taxable. If you are receiving money as a gift, it is generally not taxable, but the giver may need to file a gift tax form if the amount exceeds $17,000 per year (this limit changes annually).

Can I wire money from a savings account?

Yes, most banks allow you to send a wire from either a checking or savings account. The process is the same. However, some banks limit how many transfers you can make from a savings account per month (often six), so check your account terms before sending.