The basic steps to send a wire transfer
To wire money to a bank account, you need the recipient's full name, bank name, account number, and routing number. You then go to your own bank (in person, online, or by phone), provide those details plus the amount you want to send, and authorize the transfer. Your bank deducts the money from your account, sends it through the Federal Reserve or a private network like SWIFT, and the recipient's bank deposits it into their account. The whole process usually takes one to two business days for domestic transfers within the United States.
The exact steps depend on whether you're wiring from a bank branch, an online banking portal, or a money transfer service. Each route has different fees, speed, and verification requirements. You'll need to verify the recipient information carefully before you confirm—once a wire leaves your account, you cannot reverse it the way you can with a check or credit card dispute.
Key Takeaways
- You must have the recipient's full legal name, bank name, account number, and routing number before you initiate a wire.
- Domestic wires typically arrive within one to two business days; international wires take three to five business days or longer depending on the destination country.
- Wire transfer fees range from $15 to $50 at most banks, and some online banks charge nothing for outgoing domestic wires.
- Once you send a wire, the money cannot be recalled or disputed like a credit card charge—verify all details before you confirm.
- If the recipient's bank rejects the wire (usually because of a mismatched name or account number), the money returns to your account, but this can take several days.
Getting the recipient's information right
The most common reason a wire fails or gets delayed is incorrect or incomplete recipient information. Ask the person or business receiving the money to provide their account number and routing number in writing—do not rely on a verbal description or a screenshot. The routing number is a nine-digit code that identifies the specific bank branch; the account number identifies the individual account within that bank.
For domestic transfers, you need the routing number. For international wires, you typically need the SWIFT code (also called BIC code) instead of a routing number, plus the IBAN (International Bank Account Number) if the country uses one. The recipient's bank can provide all of these details. If you are wiring to a business, use their legal business name, not a shortened version or nickname—banks match names exactly, and a mismatch will cause the wire to be rejected or held.
Write down or copy the information exactly as the recipient provides it. Do not retype it from memory or try to correct what looks like a typo. If something looks wrong, call the recipient and ask them to confirm it again.
Where to send a wire from
You can initiate a wire from your bank's website, mobile app, a phone call to the bank's wire department, or by visiting a branch in person. Online and mobile options are fastest if your bank supports them—you can send a wire in minutes during business hours. Calling the wire department or visiting a branch takes longer but may be necessary if your account has restrictions or if you need to wire a very large amount.
Most banks process domestic wires submitted before 2 p.m. Eastern Time on a business day the same day. Wires submitted after 2 p.m. or on weekends and holidays are processed the next business day. International wires have earlier cutoff times, often 12 p.m. or 1 p.m., because they route through multiple countries and time zones.
Money transfer services like Western Union, MoneyGram, and Wise (formerly TransferWise) also send wires, and they sometimes charge lower fees than banks for international transfers. These services have their own apps and websites, and some have physical locations where you can send money in cash. The tradeoff is that they may take longer for the money to arrive, especially for international transfers, because they batch transfers and use their own settlement networks.
Wire transfer fees and what affects the cost
Domestic wire transfer fees at traditional banks typically range from $15 to $30 for an outgoing wire. Some online banks charge nothing for domestic outgoing wires but may charge $15 to $25 for incoming wires (which the recipient's bank usually absorbs). International wire fees are higher, usually $35 to $50, because the money passes through multiple banks and currency conversion may be involved.
The recipient may also be charged a fee by their bank for receiving the wire, though this is less common for domestic transfers. If you are sending money internationally, ask whether the recipient will receive the full amount or whether their bank will deduct a fee. Some banks charge a separate fee for currency conversion on top of the wire fee itself.
Money transfer services often advertise lower fees than banks, but the real cost depends on the exchange rate they offer (for international transfers) and any markup they add. Compare the total amount the recipient will receive, not just the fee, before you choose a service.
How long a wire actually takes
Domestic wires within the United States typically arrive the same business day or the next business day, depending on what time you send them and whether both banks process wires on that day. If you send a wire at 1 p.m. on a Tuesday, it usually arrives by Wednesday morning. If you send it at 3 p.m. on Friday, it will not be processed until Monday and may not arrive until Tuesday.
International wires take longer because they route through correspondent banks in multiple countries. A wire to Canada or Mexico usually arrives within one to two business days. A wire to Europe, Asia, or other regions can take three to five business days or longer, depending on the destination country's banking infrastructure and whether the receiving bank processes wires on that day.
If a wire does not arrive when you expect it, contact your bank first. They can tell you whether the wire was sent, whether it was rejected, and where it is in the process. If the wire was rejected, your bank will initiate a return, which can take another three to five business days. Do not send a second wire until you confirm the first one failed.
What happens if the wire goes to the wrong account
If you send a wire to an incorrect account number or routing number, the receiving bank may reject it and return the money to you. This rejection usually happens within one to three business days, but the return itself can take another three to five business days. During this time, your money is in limbo and you cannot access it.
If the receiving bank accepts the wire but it goes to the wrong person's account (for example, because the account number was off by one digit), recovering the money is much harder. You will need to contact your bank and file a claim, but banks have limited power to recover wires sent to valid accounts. The receiving bank may contact the account holder and ask them to return the money, but they are not required to do so. This is why verifying the recipient's information before you send is critical.
If you realize you made a mistake immediately after sending a wire, call your bank right away. Some banks can recall a wire if it has not yet been processed by the receiving bank, but this window is usually only a few hours. Do not wait—call as soon as you notice the error.
Fraud protection and security when wiring money
Wire transfers are not protected by the same fraud rules as credit cards or debit cards. If someone tricks you into wiring money to the wrong account, or if a scammer poses as your bank and convinces you to wire money, you have very limited recourse. The Federal Reserve and most banks will not reverse a wire you authorized, even if you were deceived.
To protect yourself, never wire money based on an email or text message alone, even if it appears to come from someone you know. Call the person directly using a phone number you know is correct. If someone claims to be from your bank and asks you to wire money or provide account details, hang up and call your bank's main number (from your statement or their website) to verify.
Be especially cautious of wires requested by someone claiming to be a family member in an emergency, a business partner, a government agency, or a landlord. These are common scam scenarios. If you are unsure, take time to verify the request through another channel before you send money.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
Only if you contact your bank immediately, before the receiving bank has processed it. This window is usually just a few hours. If the receiving bank has already accepted the wire, you cannot cancel it. You can ask the receiving bank to return the money, but they are not required to do so if the wire went to a valid account.
What is the difference between a wire transfer and an ACH transfer?
A wire transfer moves money the same day or next business day and cannot be reversed once sent. An ACH transfer takes three to five business days but can be disputed or reversed within a limited window. ACH transfers are cheaper (often free) but slower. Wires are faster but more expensive and riskier if you make a mistake.
Do I need to report a wire transfer to the IRS?
Banks report wire transfers over $10,000 to the Financial Crimes Enforcement Network (FinCEN) as part of anti-money-laundering rules. This does not mean you owe taxes on the transfer—it is just a reporting requirement. If the wire is a loan, a gift, or a return of your own money, you do not owe income tax on it. Consult a tax professional if you are unsure.
What should I do if I wire money and it does not arrive?
Contact your bank within one business day and ask them to trace the wire. Provide the recipient's name, account number, and routing number. Your bank can check whether the wire was sent, whether it was rejected, and where it is in the process. If it was rejected, the money will be returned to your account, but this can take several days.
Can I wire money internationally from my personal bank account?
Yes, most banks allow international wires from personal accounts. You will need the recipient's SWIFT code and IBAN (if applicable), and the wire will take longer and cost more than a domestic wire. Some banks have limits on how much you can wire internationally without additional verification. Call your bank to confirm they support wires to the country you are sending to.