The basic steps to wire money from one bank to another

To wire money, you contact your bank with the recipient's account details, your bank sends the funds through the Federal Reserve or a private network, and the money arrives at the receiving bank within one to two business days. You do not need the recipient's permission beforehand, and the transfer is irreversible once sent — the receiving bank cannot refuse it or send it back without the recipient's consent.

The process itself is straightforward: you provide your bank with the recipient's name, account number, routing number, and the amount you want to send. Your bank deducts the money from your account when ready, even though the receiving bank may not credit it for a day or two. You pay a fee — typically $15 to $30 — at the time you initiate the wire.

Wires are faster and more certain than checks or ACH transfers because the money is sent directly from one bank's reserve account to another, with no clearing house in between. This also means there is no way to stop a wire once it has left your bank, so you must verify the recipient's details before you send.

Key Takeaways

  • You initiate a wire by providing your bank with the recipient's full name, account number, routing number, and the amount — either in person, by phone, or online.
  • Your bank deducts the money from your account when ready, but the receiving bank may take one to two business days to credit it to the recipient.
  • Wire transfer fees range from $15 to $30 and are charged by your sending bank at the time you send the wire.
  • Once your bank sends a wire, you cannot cancel or reverse it, so double-check the recipient's account number and routing number before you confirm.
  • Domestic wires (within the United States) use the routing number system; international wires require a SWIFT code and may take three to five business days.

What information you need to provide to your bank

Your bank will ask for the recipient's full legal name — the exact name on their account at their bank. If you use a nickname or a slightly different spelling, the receiving bank may reject the wire or hold it for review. Ask the recipient to confirm their name as it appears on their bank statements.

You will also need the recipient's account number and their bank's routing number. The routing number is a nine-digit code that identifies the receiving bank within the Federal Reserve system. The recipient can find both numbers on a check, or they can ask their bank directly. Some banks also print the routing number on their website or in their mobile app.

For a domestic wire, that is all you need. For an international wire, you will need the recipient's bank's SWIFT code (also called a BIC code) instead of a routing number, and you may also need an IBAN (International Bank Account Number) depending on the country. Ask the recipient's bank for these details if you are sending money outside the United States.

How to initiate a wire at your bank

Most banks offer three ways to send a wire: online through their website or mobile app, by phone with a customer service representative, or in person at a branch. Online is usually the fastest — you can send a wire in minutes — and many banks do not charge a fee if you initiate it yourself online, though some still do.

If you use online banking, look for a "Send Money" or "Wire Transfer" option in the menu. You will enter the recipient's details, review them carefully, and confirm the transfer. Your bank will show you the fee and the expected delivery date before you submit. Once you confirm, the transaction is final.

If you call your bank or visit a branch, a representative will ask you for the same information and may ask security questions to verify your identity. Phone and in-person wires typically cost more — sometimes $25 to $35 — because they require staff time. Some banks also require you to be a customer for a certain period before you can send a wire by phone.

When the money leaves your account and when it arrives

Your bank deducts the money from your account on the same day you send the wire, regardless of when the receiving bank credits it. This means you lose access to the funds when ready, even if the recipient does not see the money for one or two days. Make sure you have enough money in your account to cover both the wire amount and the fee.

The receiving bank typically credits the money within one business day for domestic wires sent before 2 p.m. on a weekday. If you send a wire after 2 p.m., on a weekend, or on a holiday, it may not arrive until the next business day or the day after. Some banks are slower — they may take up to two business days even for domestic wires.

International wires take longer because they move through multiple banks and currency exchanges. A wire to Canada or Mexico usually arrives in two to three business days. A wire to Europe, Asia, or other regions may take three to five business days. The receiving bank's location and the time of day you send the wire both affect the timeline.

Why you cannot cancel a wire once it is sent

A wire transfer is irreversible because the money moves directly from your bank's Federal Reserve account to the receiving bank's account. Once the receiving bank receives the funds, they belong to that bank, and only the recipient can authorize a return. Your bank cannot pull the money back.

If you sent a wire to the wrong account number or the wrong bank, you must contact your bank when ready — within hours, not days. Your bank can try to contact the receiving bank and ask them to return the funds, but the receiving bank is not required to do so. If the recipient or the receiving bank refuses to return the money, you have no recourse through your bank.

This is why wire fraud is common: scammers ask people to wire money for fake reasons (a job offer, a rental deposit, a prize claim), and once the money is sent, it is gone. Always verify the recipient's identity and account details through a separate channel before you send a wire — do not rely on email or text message instructions alone.

Wire transfer fees and what affects the cost

Domestic wire transfer fees typically range from $0 to $30, depending on your bank and how you send the wire. Many banks charge $15 to $25 for a standard domestic wire. Some banks waive the fee if you maintain a high balance, have a premium account, or send the wire online. A few banks charge nothing for domestic wires at all.

International wire fees are higher — usually $25 to $50 — because the money passes through multiple banks and currency exchanges. Some banks also charge a separate fee for currency conversion, which can add another $10 to $20 to the total cost. Ask your bank for the full fee breakdown before you send an international wire.

The fee is deducted from your account at the time you send the wire, separate from the transfer amount. If you send $1,000 and the fee is $20, your account is debited $1,020 total. The recipient receives the full $1,000 — the fee does not come out of their money.

Domestic wires versus international wires

A domestic wire stays within the United States and uses the routing number system. It takes one to two business days and costs $15 to $30. You need the recipient's name, account number, and routing number.

An international wire crosses a border and uses the SWIFT code system. It takes three to five business days and costs $25 to $50 or more. You need the recipient's name, account number, SWIFT code, and sometimes an IBAN. The receiving bank may also charge a fee on their end, which is deducted from the amount the recipient receives.

Some banks also offer expedited wires for an extra fee — usually $15 to $25 more — that prioritize your transfer and may arrive the same day or next morning instead of the standard one to two days. Expedited wires are useful if you are sending money for time-sensitive reasons, like a down payment on a house or a business transaction with a important date.

Frequently Asked Questions

Can I cancel a wire after I send it?

Only if you contact your bank within a few hours of sending it, before the receiving bank processes it. Even then, your bank can only ask the receiving bank to return the funds — they cannot force them to do so. If the receiving bank has already credited the money to the recipient's account, cancellation is not possible.

What happens if I give my bank the wrong account number?

The wire will go to the account number you provided, even if it belongs to the wrong person or the wrong bank. Contact your bank when ready. They can contact the receiving bank and ask them to return the funds, but the receiving bank is not required to comply. If the money was sent to a person rather than a business, you may be able to recover it through small claims court, but this is slow and uncertain.

Do I need to tell the recipient before I send a wire?

It is a good idea to tell them so they know to expect the money and can watch for it. However, you do not need their permission to send a wire. The recipient cannot refuse a wire or prevent it from arriving. Once the money reaches their bank, it is theirs to keep or return at their discretion.

Why does my bank charge more for a wire sent by phone than online?

Phone and in-person wires require a staff member to process the transaction, verify your identity, and enter the information into the system. Online wires are automated, so they cost the bank less to process. Some banks pass this savings to you; others charge the same fee regardless of how you send it.

Can I wire money to a savings account, or does it have to be checking?

You can wire money to either a savings account or a checking account. The account type does not matter — you just need the account number and the routing number. The receiving bank will credit the money to whichever account you specify.