The basic steps for wiring money between banks
To wire money from one bank to another, you need to give your bank the recipient's name, account number, and routing number—plus the amount you want to send. Your bank then sends that instruction through a secure network (usually the Federal Reserve or SWIFT for international transfers) to the receiving bank, which deposits the money into the recipient's account. The whole process typically takes one business day for domestic transfers, though some banks offer same-day service for an extra fee.
You do not need the recipient to do anything on their end. Once your bank sends the wire, the receiving bank handles the deposit automatically. The recipient will see the money in their account without having to accept or confirm anything.
Wire transfers are one-way and final. Once the money leaves your bank, you cannot cancel it the way you can cancel a check or dispute a debit card charge. This makes them useful for large, time-sensitive payments but risky if you send money to the wrong account by mistake.
Key Takeaways
- You need the recipient's full name, account number, and routing number before you start—ask them directly or get these details from a check or bank statement.
- Domestic wires typically arrive within one business day; international wires take three to five business days and cost more.
- Wire transfers cannot be reversed once sent, so confirm all recipient details with the receiving bank before you authorize the transfer.
- Most banks charge $15 to $50 per wire transfer, and some charge extra for same-day delivery or international sends.
- If you wire money to the wrong account, contact your bank immediately—they can try to recover it, but success depends on whether the receiving bank cooperates.
What information you need before you start
Gather these details from the person or business receiving the money before you go to your bank or log into online banking:
- Recipient's full name — exactly as it appears on their bank account. Middle initials matter; a name mismatch can cause the wire to be rejected or held.
- Account number — the checking or savings account where the money should land. Do not assume; ask which account.
- Routing number — a nine-digit code that identifies the receiving bank. The recipient can find this on a check, in their online banking, or by calling their bank.
- Bank name and address — most banks ask for this, though the routing number usually routes the wire correctly on its own.
For international wires, you will also need the recipient's SWIFT code (a code that identifies banks globally) or IBAN (International Bank Account Number), depending on the country. Ask the recipient which one their bank uses.
Do not rely on memory or guesses. A single digit wrong in the account or routing number can send your money to a stranger's account. Call or text the recipient to confirm these details, or ask them to send you a photo of a check or a screenshot from their banking app.
How to send a wire through your bank
Most banks let you wire money three ways: in person at a branch, by phone, or through online banking. Online is fastest if your bank offers it.
Online banking: Log in, find the wire transfer or send money section (usually under "Transfers" or "Pay"), and enter the recipient's information. Review the details carefully—especially the account number and amount—before you confirm. Your bank will show you the fee and the expected arrival date. Once you submit, the wire is sent and cannot be stopped.
By phone: Call your bank's customer service line and ask to send a wire transfer. Have all the recipient's information ready. The bank will read back the details to you before processing. This method is slower than online but useful if you do not have access to a computer or prefer to speak to someone.
In person at a branch: Bring your ID and the recipient's information. A teller will fill out a wire transfer form with you, show you the fee, and process the transfer. This is the slowest method but useful if you have questions or need help.
Some banks require you to have the recipient's information entered into your account ahead of time (called a "payee" or "beneficiary") before you can wire to them. If this is your first wire to this person, you may need to add them first, which can take a few hours or a full business day.
Timing, fees, and what happens after you send
Domestic wires (bank to bank within the US): Usually arrive the same business day if sent before your bank's cutoff time (often 2 or 3 p.m.). If you send after the cutoff, the wire goes out the next business day. Weekends and bank holidays add a day.
International wires: Take three to five business days, sometimes longer depending on the receiving country and whether the receiving bank needs to verify details. The money may sit in an intermediary bank for a day or two before reaching the final recipient.
Fees: Domestic wires typically cost $15 to $50 per transfer, depending on your bank. International wires cost $30 to $75 or more. Some banks charge extra for same-day delivery. A few banks offer free wires to certain account holders (like those with premium checking), so ask your bank if you may have access to.
Once you send the wire, your bank deducts the money from your account immediately. The receiving bank deposits it into the recipient's account when it arrives. The recipient will see the deposit in their account and can use the money right away—there is no hold or waiting period on the receiving end.
What to do if the wire goes to the wrong account
If you realize you sent money to the wrong account number or the wrong bank, contact your bank immediately—do not wait. Tell them the wire was sent in error and ask them to attempt a recovery. Your bank will contact the receiving bank and ask them to return the funds.
Success depends on whether the receiving bank cooperates and whether the money has already been withdrawn. If the receiving bank returns the money, it typically takes five to ten business days to appear back in your account. If the receiving bank refuses or cannot recover it (because the recipient withdrew it), you have limited options. You can file a complaint with your bank's regulatory body or pursue a civil claim against the recipient, but this is expensive and slow.
This is why confirming the recipient's details before you send is critical. A wire is final in a way that a credit card charge or ACH transfer is not.
Wire transfers versus other ways to send money
Wire transfers are fast and reliable for large amounts, but they are not the only option. Here is when to use them and when an alternative might be better:
| Method | Speed | Cost | Best for | Risk if wrong |
|---|---|---|---|---|
| Wire transfer | Same day (domestic) | $15–$50 | Large amounts, time-sensitive payments, paying businesses | Cannot be reversed; money is gone |
| ACH transfer | 1–3 business days | Free to $1 | Routine bill payments, payroll, peer transfers | Can be disputed within 60 days |
| Peer transfer (Venmo, PayPal, etc.) | Instant to 1 day | Free to 3% | Splitting bills, paying friends, small amounts | Can be reversed by sender; recipient must accept |
| Check | 3–7 business days | Free | Large amounts when speed is not urgent | Can be stopped; recipient must deposit |
Use a wire transfer when you need money to arrive the same day and the amount is large enough to justify the fee. For routine bills or smaller peer-to-peer transfers, ACH or a peer app is usually cheaper and safer.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
Not reliably. If you contact your bank within minutes of sending, before the wire leaves their system, they may be able to stop it. But once the wire enters the Federal Reserve network or reaches the receiving bank, it cannot be recalled. Call your bank immediately if you need to cancel; do not wait.
What if the receiving bank rejects the wire?
The receiving bank may reject a wire if the account number does not match the name, if the account is closed, or if the receiving bank suspects fraud. When this happens, the money is returned to your bank, usually within five to ten business days. Your bank will notify you, and the funds will reappear in your account. You are not charged a fee for a rejected wire in most cases.
Do I need to tell the recipient I am wiring money?
Yes. Let them know the amount, the date you are sending it, and which bank it is coming from. This helps them watch for the deposit and confirm it arrived. It also prevents confusion if they are expecting money from multiple sources.
Is a wire transfer safe from fraud?
Wire transfers are safe from fraud on your bank's end—your bank verifies your identity before sending. But you can be defrauded by a scammer posing as someone else, asking you to wire money to their account. Never wire money to someone you have not verified by phone or in person. Scammers often pose as landlords, contractors, or family members in emergencies.
What is the difference between a domestic and international wire?
A domestic wire stays within the US and uses routing numbers; it arrives in one business day and costs $15–$50. An international wire crosses borders, uses SWIFT codes or IBANs, takes three to five business days, and costs $30–$75 or more. International wires may also be subject to currency conversion fees if the receiving account is in a different currency.