The basic process: Wise sends the money directly to your bank
When you transfer money from Wise to your bank account, Wise initiates a bank-to-bank transfer using your account details. The money does not sit in Wise; it moves out to whichever bank account you specify. The transfer uses either ACH (in the US, typically one to three business days) or a local payment method depending on your currency and location.
You will need your bank's routing number and your account number to set up the transfer. Wise will ask you to verify these details before processing. Once you confirm, the transfer is sent to your bank, and your bank handles the deposit on its end.
Key Takeaways
- Wise transfers money to your bank using ACH in the US, which typically takes one to three business days after Wise sends it.
- You must provide your bank's routing number and your account number, and Wise will ask you to verify them before the transfer goes through.
- Wise charges a small fee for the transfer, which varies by currency pair and transfer amount; the fee is shown before you confirm.
- If your transfer does not arrive within the stated timeframe, contact Wise first with your transfer reference number, then contact your bank if Wise confirms it was sent.
- Transfers to accounts in your own name are faster and simpler than transfers to third-party accounts, which may require additional verification.
Setting up your bank account in Wise
Log into your Wise account and go to the "Send money" or "Withdraw" section (the exact label depends on your app version). Select the currency you want to withdraw and choose "Bank transfer" as your destination method. Wise will then ask you to enter your bank details.
Enter your bank's routing number (a nine-digit code for US banks) and your account number. Double-check both before proceeding; a mistake in either one can send money to the wrong account or cause the transfer to fail. Wise will ask you to confirm the account holder name matches the name on your Wise account. If you are transferring to an account in someone else's name, Wise may ask for additional documentation.
Once you have entered your details, Wise will save this bank account as a destination. You can reuse it for future transfers without re-entering the information each time.
Fees and exchange rates
Wise charges a fee for bank transfers out of your account. The fee amount depends on the currency you are withdrawing and the size of the transfer. Wise shows you the exact fee before you confirm the transfer, so you will know the total cost upfront. There are no hidden charges added later.
If you are converting currency before the transfer (for example, converting EUR to USD), Wise applies its mid-market exchange rate plus a small markup. Again, the final amount you receive is displayed before you confirm. This is typically cheaper than what a traditional bank would charge for the same conversion, but compare if you have other options.
How long the transfer takes
In the US, ACH transfers from Wise to your bank account usually arrive within one to three business days after Wise sends the transfer. Wise typically sends the transfer the same day you request it if you submit before the cutoff time (usually around 4 p.m. UTC on weekdays). Weekends and US bank holidays can add delay on the receiving end.
Some banks process incoming ACH transfers faster than others. A few banks credit the money the same day or next business day; others take the full three days. You can check with your bank about their ACH processing speed, but you have no control over this part once Wise has sent it.
If you are transferring to a currency that requires a local payment method (for example, GBP to a UK account), the timeline may be different. Wise will show you the expected arrival date before you confirm.
What to do if the money does not arrive
If your transfer does not show up within the timeframe Wise stated, start by logging into Wise and finding your transfer in the transaction history. Look for the transfer reference number (a unique code Wise assigns to each transfer). This number is essential for tracking.
Contact Wise support with your transfer reference number and ask them to confirm the transfer was sent to your bank. Wise can see on their end whether the money left their system. If Wise confirms it was sent, the delay is on your bank's side, and you should contact your bank with the transfer reference number and ask them to locate it in their system.
If Wise confirms the transfer was not sent (for example, because there was an error in your bank details), Wise can cancel it and return the money to your Wise balance. You can then correct the bank details and try again.
Transfers to accounts in someone else's name
If you are sending money to a bank account that belongs to another person, Wise may ask for proof that you have permission to do so. This is a fraud prevention measure. You may need to provide a document showing the relationship (for example, a power of attorney, guardianship papers, or a business authorization letter) or a written statement from the account holder.
The verification process can add time to your first transfer to a new third-party account. Once Wise has verified the account, future transfers to the same account will be faster. If you are regularly sending money to the same person, consider asking them to set up their own Wise account and transfer the money to them directly instead.
Canceling or reversing a transfer
If you cancel a transfer before Wise has sent it to your bank, the money returns to your Wise balance immediately, and no fee is charged. You can cancel from the transaction details page in your Wise account.
Once Wise has sent the transfer to your bank (which usually happens within hours of you requesting it), you cannot cancel it through Wise. At that point, the transfer is in your bank's system. If you need to reverse it, you must contact your bank and request a reversal. Your bank may charge a fee for this, and the reversal is not may provide—it depends on whether the receiving bank will cooperate.
To avoid this situation, double-check your bank details before confirming any transfer.
Frequently Asked Questions
Can I transfer money from Wise to a savings account or a money market account?
Yes. Wise can send money to any bank account as long as you have the routing number and account number. The account type (checking, savings, money market) does not matter. Make sure the account is in your name or that you have permission to deposit into it.
What happens if I enter the wrong routing number or account number?
If the routing number or account number is incorrect, the transfer may be rejected by your bank and returned to Wise, or it may be deposited into the wrong account. This is why Wise asks you to verify the account holder name. If money goes to the wrong account, contact your bank immediately; they can attempt to recover it, but success is not may provide.
Do I pay a fee if the transfer fails?
Wise charges the fee when you confirm the transfer, regardless of whether it succeeds. If the transfer fails and is returned to Wise, you can request a refund of the fee from Wise support. Most banks do not charge you a fee for a failed incoming transfer, but check with your bank if you are unsure.
Can I set up automatic recurring transfers from Wise to my bank?
Wise does not currently offer automatic recurring transfers. You must initiate each transfer manually. If you need to move money regularly, you can set a reminder to transfer on a schedule, but the transfer itself must be requested each time.
Is there a maximum amount I can transfer to my bank account?
Wise does not publish a single maximum transfer amount; limits depend on your account history, verification level, and the currency involved. Your first transfer may have a lower limit than later transfers. Wise will show you your available transfer limit when you start a transfer. If you need to move a large amount, contact Wise support to discuss your options.