Wise transfers money to your bank account through a standard bank deposit, usually within one to three business days depending on your bank's processing speed
When you hold money in a Wise account, you can send it to any bank account you own in the same country. Wise doesn't move the money itself—it instructs your bank to receive a deposit from Wise's banking partner. The transfer is treated like any other incoming bank deposit, so your bank processes it on their timeline, not Wise's.
The process is straightforward: you log into your Wise account, choose the bank account you want to fund, enter the amount, and confirm. Wise then sends the money to your bank. There's no separate approval step on your end once you've confirmed the transfer. Your bank receives it and credits your account according to their standard deposit procedures.
Key Takeaways
- You initiate the transfer from your Wise account by selecting your bank account and confirming the amount you want to move.
- Wise sends the money to your bank as a standard deposit, and your bank controls how long it takes to appear in your account—usually one to three business days.
- You can only transfer money to a bank account in the same country where your Wise account is registered.
- Wise charges no fee for transfers to your own bank account, but your bank may charge you a deposit fee if you have a non-standard account type.
Setting up your bank account in Wise
Before you can transfer money out, you need to add your bank account to your Wise account. Go to the Accounts section in your Wise app or website, select the currency you want to transfer, and choose "Send to bank account." Wise will ask for your bank's name, your account number, and your routing number (in the US) or equivalent identifier for your country.
Wise verifies this information against your bank's records. If the details don't match exactly—wrong account number, misspelled name, or a routing number that doesn't correspond to your bank—Wise will reject the transfer before it leaves. This is a safety feature: it prevents you from accidentally sending money to the wrong place. If Wise rejects your details, contact your bank to confirm your account number and routing number, then try again.
You can add multiple bank accounts to your Wise account. This is useful if you have accounts at different banks or want to split transfers between them. Each account you add goes through the same verification process.
How long the transfer takes
Wise typically sends the money to your bank within a few hours of you confirming the transfer. However, your bank then needs to process the incoming deposit. Most banks credit deposits within one business day, but some take two to three business days, especially if you're transferring on a weekend or holiday.
Your bank's processing time depends on their internal procedures, not on Wise. If you transfer money on a Friday evening, your bank may not process it until Monday. If you transfer on a holiday, it may not process until the next business day. Check your bank's deposit policy if you need the money by a specific date.
Wise shows you the expected arrival date when you confirm the transfer. This is an estimate based on typical bank processing times in your country, but it's not a may provide. If the money doesn't arrive by the date shown, contact your bank first—they control the final step. If your bank says they never received the transfer, then contact Wise with the transaction details.
Fees and costs
Wise charges no fee to transfer money from your Wise account to your own bank account. This is one of the main reasons people use Wise: the transfer out is free. The money you see in your Wise account is the amount that will arrive in your bank account, minus any fee your bank charges.
Some banks charge a deposit fee for certain account types, though this is rare in the US and most developed countries. If your bank charges a deposit fee, they will deduct it from the transfer amount. Check your bank's fee schedule or contact them directly if you're unsure. The fee, if any, comes from your bank, not from Wise.
What to do if the transfer doesn't arrive
If the money doesn't show up in your bank account by the expected date, start by checking your Wise account. Log in and look at your transaction history. Find the transfer you made and check its status. Wise will show you whether the money was sent, is pending, or failed.
If Wise shows the transfer was sent, contact your bank. Give them the date you sent the transfer and the amount. Ask them to search their incoming deposits for that date. Banks can usually find deposits within a few business days. If your bank finds it, they'll tell you when it will be credited. If they can't find it, ask them for a reference number and then contact Wise with that information.
If Wise shows the transfer failed, the money stays in your Wise account. Wise will tell you why it failed—usually because the bank account details were incorrect. Fix the details and try again. If you're not sure what went wrong, Wise's support team can walk you through it.
Transferring to a joint bank account
You can transfer money from Wise to a joint bank account as long as your name is on the account. When you add the bank account to Wise, use the account number and routing number for the joint account. Wise doesn't care whose name is listed first or how many people own the account—it only checks that the account number and routing number are valid.
When the money arrives at the joint account, both account holders can use it. There's no separate approval needed from the other account holder. The transfer is treated like any other deposit to that account.
Moving money between Wise accounts and other Wise users
If you want to send money to another Wise user, you don't have to transfer it to a bank account first. Wise lets you send money directly from your Wise account to another Wise user's account in the same currency. This is faster and sometimes cheaper than going through a bank. You just need the other person's email address or phone number associated with their Wise account.
However, if the other person doesn't have a Wise account or you want to send money in a different currency, you'll need to transfer to their bank account instead. The process is the same as transferring to your own bank account: you enter their bank details, confirm the amount, and Wise sends it.
Frequently Asked Questions
Can I transfer money from Wise to someone else's bank account?
Yes. You can send money from your Wise account to any bank account, as long as it's in the same country where your Wise account is registered. You'll need the recipient's account number, routing number, and full name. The recipient doesn't need a Wise account.
What if I enter the wrong bank account number?
Wise verifies your bank account details before sending the money. If the account number doesn't match your bank's records, Wise will reject the transfer and the money stays in your Wise account. If you somehow send money to the wrong account at the correct bank, contact your bank immediately—they may be able to recall the transfer if it hasn't been processed yet.
Can I cancel a transfer after I've confirmed it?
If Wise hasn't sent the money yet, you may be able to cancel it through your Wise account. Once Wise sends it to your bank, you can't cancel it through Wise—you'll need to contact your bank. The sooner you act, the better your chances of stopping it.
Do I need to report this transfer to the IRS or my country's tax authority?
Moving money between your own accounts is not a taxable event. However, if the money in your Wise account came from income or a business, you may owe taxes on that income. This is a question for a tax professional in your country, not for Wise or your bank.
Why is my transfer taking longer than three business days?
Your bank controls the final processing step. Contact your bank with the transfer date and amount. They can tell you whether they received it and when it will be credited. If your bank says they never received it, get a reference number from them and contact Wise.