The basic route: international wire transfer through your US bank

The most direct way to move money from a US bank account to the UK is an international wire transfer, also called a SWIFT transfer. You initiate it at your US bank, they send the funds through the SWIFT network (the global system banks use to talk to each other), and the money lands in a UK bank account in one to three business days.

Your US bank will charge a fee for this—typically $15 to $50 depending on the bank and the amount. The receiving UK bank may also charge a fee on their end, usually £10 to £25. The exchange rate you get is set by your US bank, and it is rarely the mid-market rate you see online; banks typically add a markup of 1 to 3 percent.

You will need the recipient's UK bank details: their full name, account number, sort code (a six-digit number that identifies the UK bank and branch), and the name of their bank. Some banks also ask for an IBAN, which is a longer standardized account identifier that includes the sort code.

Key Takeaways

  • A SWIFT transfer through your US bank takes one to three business days and costs $15 to $50, but the exchange rate includes a bank markup of 1 to 3 percent.
  • You need the recipient's UK sort code and account number, not just their name and bank name.
  • Specialist money transfer services like Wise, OFX, and Remitly often charge lower fees and offer better exchange rates than traditional banks, though they may take slightly longer for the first transfer.
  • If you are sending a large amount, the fee difference between a bank and a specialist service can save you hundreds of dollars.
  • The recipient's bank may hold the money for a day or two before crediting it, even after it arrives in the UK.

How to send a SWIFT transfer from your US bank

Log into your US bank's online banking portal or call their international transfer department. You will need to provide the recipient's full name exactly as it appears on their UK bank account, their sort code, their account number, and the amount in US dollars.

Your bank will show you the exchange rate and the total fees before you confirm. Read this carefully—the amount that arrives in the UK will be lower than what you send because of the exchange rate conversion and any fees the UK bank deducts. Some banks show you the final amount in GBP; others do not.

Once you confirm, the transfer is locked in at that exchange rate. Most banks process the transfer the same day if you submit it before their cutoff time (usually 2 or 3 p.m. Eastern Time on a business day). The money typically arrives in the UK within one to three business days, though UK banks sometimes hold incoming international transfers for an extra day before crediting them.

Specialist money transfer services: lower costs for larger amounts

Companies like Wise, OFX, Remitly, and MoneyGram move money internationally and often charge less than banks. Wise, in particular, uses the real mid-market exchange rate with a small markup (usually 0.5 to 1 percent) rather than the 1 to 3 percent markup banks add. Their fees are typically $2 to $10 for transfers under $10,000.

The trade-off is that your first transfer may take longer—sometimes up to five business days—because these services verify your identity and the recipient's details more thoroughly than banks do. Subsequent transfers are usually faster. You also need to set up an account with the service, which takes 10 to 15 minutes and requires a photo ID.

For a $5,000 transfer, a bank might cost you $40 in fees plus $150 in unfavorable exchange rate markup, totaling $190 in costs. The same transfer through Wise might cost $10 in fees plus $25 in markup, totaling $35. The larger the transfer, the more the savings compound.

Setting up a transfer through Wise or a similar service

Create an account on the service's website or app, verify your identity with a photo ID, and link your US bank account. You will provide the recipient's UK bank details the same way you would for a SWIFT transfer: their name, sort code, and account number.

The service will show you the exchange rate, their fee, and the exact amount the recipient will receive in GBP. Once you confirm, you authorize a debit from your US bank account. The service then sends the money to the UK bank on your behalf, usually within one business day.

Most of these services hold your money in a pooled account briefly while they batch transfers for efficiency, which is why they can offer better rates than banks. This is legal and regulated; the money is not at risk, but it does mean the recipient may not see it when ready after you send it.

What happens if the recipient's details are wrong

If you provide an incorrect sort code or account number, the money may be rejected and returned to your US bank account, or it may land in the wrong UK account. This is why you must confirm the recipient's details before sending anything.

Ask the recipient to give you their sort code and account number directly, or have them provide a screenshot of their UK bank app showing these details. Do not rely on them spelling it out over the phone or in a text message.

If money does go to the wrong account, contact your US bank or the transfer service when ready. They can sometimes recall the transfer if it has not been processed yet. If it has been processed, the UK bank that received it must be contacted to return the funds, which can take weeks and is not always successful.

Timing and what to expect

A SWIFT transfer initiated on a Monday morning will usually arrive by Wednesday or Thursday. A transfer initiated on a Friday afternoon may not arrive until the following Tuesday or Wednesday because the SWIFT network does not process on weekends.

Once the money arrives at the UK bank, the receiving bank may hold it for an additional day before crediting the recipient's account. This is standard practice and is not a sign that anything has gone wrong. The recipient should see the money within one business day of it arriving at their bank.

Specialist services like Wise sometimes complete transfers faster than banks because they have direct relationships with UK banks and do not route through the SWIFT network. A Wise transfer sent on Monday morning might arrive by Tuesday afternoon.

Frequently Asked Questions

Do I need to declare the transfer to the IRS or any government agency?

No. Transferring your own money between your own accounts is not a taxable event and does not require reporting. If you are sending money as a gift to someone else, that is also not reportable for federal tax purposes unless the amount exceeds $17,000 in a single year (the annual gift tax exclusion for 2023). The recipient never pays tax on money received as a gift.

What is the difference between a sort code and an IBAN?

A sort code is a six-digit number that identifies a specific UK bank and branch. An IBAN is a longer code (up to 34 characters) that includes the sort code plus the account number and a country identifier. Both identify the same account; you only need one or the other, though providing both is fine.

Can I transfer money to a UK account that is not in my name?

Yes, you can send money to anyone's UK account as long as you have their correct bank details. Your US bank may ask why you are sending the money, but they will not prevent you from sending it to an account in someone else's name.

What if my US bank does not offer international transfers?

Some smaller US banks and credit unions do not have their own international transfer infrastructure. In that case, use a specialist service like Wise or OFX instead. You link your US bank account to their platform, and they handle the transfer on your behalf.

How much does it cost to transfer $10,000 to the UK?

Through a typical US bank: $25 to $50 in fees plus $100 to $300 in unfavorable exchange rate markup, totaling $125 to $350. Through Wise: $10 to $20 in fees plus $50 to $100 in markup, totaling $60 to $120. The exact cost depends on your specific bank and the current exchange rate.