The basic steps to send a wire transfer
To wire money to a bank account, you need the recipient's full name, their bank account number, the bank's routing number, and the bank's name and address. You then contact your own bank—by phone, online, or in person—and provide those details plus the amount you want to send. Your bank deducts the money from your account, sends it through the Federal Reserve's wire system (for domestic transfers) or through SWIFT (for international ones), and the recipient's bank deposits it into their account. The whole process usually takes one business day for domestic transfers, though some banks complete them the same day if you send before their cutoff time, typically 2 or 3 p.m.
You will pay a wire fee, which varies by bank but usually ranges from $15 to $50 for domestic transfers and $35 to $75 for international ones. Some banks charge less if you wire through their online platform rather than calling. Once the money leaves your bank, you cannot cancel or reverse it, so double-check the account number and routing number before you confirm.
Key Takeaways
- You need the recipient's full name, account number, routing number, and bank name before you initiate a wire transfer.
- Domestic wires typically arrive within one business day; international wires take three to five business days depending on the receiving country.
- Wire fees range from $15 to $50 domestically and $35 to $75 internationally, and you cannot reverse a wire once it has been sent.
- Verify the account and routing numbers with the recipient before you send, because a mistake means the money goes to the wrong account and recovery is difficult.
Where to get the recipient's banking information
Ask the recipient directly for their account number and routing number. The routing number is a nine-digit code that identifies their bank; the account number identifies their specific account within that bank. Most people can find both on the bottom left of their checks, or they can log into their online banking and find it in the account details section.
If the recipient does not have a check or online access, they can call their bank's customer service line and ask for their routing and account numbers. Do not wire money based on information from a website or email unless you have confirmed it directly with the person receiving the money—scammers sometimes intercept payment instructions and change the account details.
How to initiate a wire through your bank
Log into your online banking portal and look for a "Send Money" or "Wire Transfer" option, usually under a Payments or Transfers menu. Enter the recipient's name, account number, routing number, and bank name. Enter the amount and a reference note (optional, but useful for your records). Review all the details, confirm the wire fee, and submit.
If you prefer not to use online banking, call your bank's wire transfer department or visit a branch in person. A representative will ask for the same information and may require you to verify your identity. Some banks require you to set up a new recipient before you can wire to them, which adds a day or two to the process the first time you send to that account.
International wires require additional information: the recipient's SWIFT code (similar to a routing number but for banks outside the US), their IBAN (International Bank Account Number) if they are in Europe, or their bank's address and country. Ask the recipient for these details before you start the wire.
Timing: when the money arrives
Domestic wires sent before your bank's cutoff time (usually 2 or 3 p.m. on a business day) arrive the same day or the next business day. If you send after the cutoff or on a weekend or holiday, the wire enters the queue and processes on the next business day. The receiving bank then deposits the money into the recipient's account, which usually happens within hours but can take until the end of the business day.
International wires take longer because they pass through multiple banks and currency exchanges. A wire to Canada or Mexico typically arrives within one to two business days. A wire to Europe, Asia, or other regions can take three to five business days. The receiving bank's processing speed also matters—some banks are slower than others.
If a wire does not arrive within the expected timeframe, contact your bank with the wire confirmation number (your bank provides this after you send). Your bank can trace the wire through the Federal Reserve or SWIFT system and determine where it is stuck.
Fees and what they cover
Your bank charges a wire fee when you send money out. This fee is separate from any fee the receiving bank might charge (some banks charge the recipient a small fee to receive a wire, though this is less common). The fee covers the cost of processing the wire through the Federal Reserve or SWIFT network and the bank's staff time.
Online wires are sometimes cheaper than phone or in-person wires. Some banks offer a limited number of free wires per month or waive fees for customers with high account balances. Ask your bank whether any of these discounts apply to you.
What to do if you wire money to the wrong account
Once a wire is sent, it cannot be reversed or recalled. If you realize you sent money to the wrong account number, contact your bank immediately with the wire confirmation number. Your bank can attempt to contact the receiving bank and ask them to return the funds, but they have no legal obligation to do so. The receiving bank will contact the account holder and ask them to return the money, but if that person refuses or has already spent it, recovery is unlikely.
This is why verifying the account number with the recipient before you send is critical. A single digit wrong means the money goes to a stranger's account. If the receiving bank is in a different state or country, recovery becomes even more difficult because different laws and banking systems are involved.
Wire transfers versus other payment methods
A wire transfer is faster and more direct than an ACH transfer (which takes three to five business days) but costs more and cannot be reversed. Use a wire when speed matters and the amount justifies the fee—typically for large payments, time-sensitive transactions, or situations where the recipient needs the money the same day.
For smaller amounts or non-urgent payments, an ACH transfer or a peer-to-peer payment app like Venmo or PayPal may be cheaper or free. For international transfers, a wire is standard, but some banks and services like Wise (formerly TransferWise) offer lower fees and better exchange rates for currency conversions.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
No. Once your bank sends a wire, it cannot be stopped or reversed. If you realize you made a mistake immediately after sending, contact your bank right away—they can sometimes intercept a wire before it reaches the receiving bank, but this only works if you call within minutes. After that, the money is gone and recovery depends on the receiving bank's willingness to help.
What is the difference between a routing number and an account number?
The routing number identifies the bank itself (a nine-digit code assigned by the Federal Reserve). The account number identifies your specific account within that bank. Both are required for a wire transfer. You can find both on the bottom of a check, or by logging into online banking.
Do I need the recipient's name to match their account exactly?
Yes. Banks use the name to verify the account. If you wire to "John Smith" but the account is registered to "Jonathan Smith," the receiving bank may reject the wire or hold it for review. Always ask the recipient how their name appears on their account and use that exact spelling.
How much does it cost to wire money internationally?
International wire fees vary by bank but typically range from $35 to $75. Some banks charge additional fees for currency conversion or for wires to certain countries. Ask your bank for the total cost before you send, because the fee may be higher than you expect.
What happens if the receiving bank is closed when the wire arrives?
The wire sits in the receiving bank's system and is processed the next business day. Weekends and holidays delay arrival. If you need the money urgently, confirm the receiving bank's hours and send the wire on a day when they will be open to process it.