A bank wire moves money directly from your account to someone else's, usually within hours

A bank wire is a transfer of funds from your bank account to another account, typically at a different bank. The money moves through a network of banks and clearing houses rather than through a check or card. Once you initiate a wire, the funds leave your account almost when ready — usually within minutes — and arrive at the receiving bank within hours, often the same day if sent before the receiving bank's cutoff time (usually 2 or 3 p.m. Eastern).

Wires are fast and nearly irreversible once sent, which is why banks ask for specific information before processing them. You will need the recipient's full name, account number, routing number, and bank name. If you are sending money internationally, you will also need the recipient's address and a SWIFT code or IBAN instead of a routing number.

The cost of sending a wire varies by bank. Most banks charge between $15 and $30 for a domestic wire, and $35 to $50 for an international wire. Some banks waive the fee for customers who maintain a minimum balance or have certain account types. Check your bank's fee schedule or ask a representative before you send.

Key Takeaways

  • Bank wires move money the same day or next business day, but you cannot cancel once the receiving bank processes the transfer.
  • You need the recipient's account number, routing number, and full name to send a domestic wire; international wires also require a SWIFT code or IBAN and the recipient's address.
  • Most banks charge $15 to $30 for domestic wires and $35 to $50 for international wires, though some waive fees for certain account holders.
  • Wires sent after your bank's cutoff time (usually 2 or 3 p.m. Eastern) will not arrive until the next business day.

Gather the recipient's information before you contact your bank

The receiving bank needs specific details to route the money correctly. Ask the recipient for their full legal name (the name on their account), their account number, and their bank's routing number. For a domestic wire, the routing number is a nine-digit code that identifies the bank. You can find it on a check, on the bank's website, or by calling the bank directly.

If the recipient does not have this information readily available, they can get it from their bank's website, by logging into their online banking portal, or by calling their bank's customer service line. Do not guess or use partial information — a wrong account number or routing number will send the money to the wrong place, and recovering it is difficult and slow.

For international wires, ask for the recipient's SWIFT code (an eight or eleven-character code that identifies the bank internationally) or IBAN (International Bank Account Number, which varies in length by country). You will also need the recipient's full address. Some banks require additional information such as the purpose of the transfer or the recipient's phone number.

Initiate the wire through your bank's online portal, mobile app, or in person

Most banks let you send a wire through online banking or a mobile app. Log in, look for "Send Money," "Wire Funds," or "Transfers," and select "Wire Transfer." Enter the recipient's information exactly as you have it, including their full name and account number. Double-check every digit of the account number and routing number — a single mistake will route the money incorrectly.

If you prefer to send a wire in person, visit a branch with your ID and the recipient's information. A bank representative will fill out a wire transfer form with you and process it on the spot. In-person wires take the same amount of time as online wires, but some people prefer this method because a representative can verify the information before sending.

You can also call your bank's wire transfer line, usually a dedicated phone number for this service. A representative will ask you to read back the recipient's information to confirm it is correct. This method is slower than online banking because the bank may require you to sign a form and mail it back, or it may process the wire only after receiving written authorization.

Confirm the amount and review the fee before you submit

Enter the amount you want to send. Your bank will show you the fee (if any) and the total that will leave your account. The recipient will receive the full amount you specified — the fee comes out of your account, not the recipient's. Review the total one more time to make sure it is correct.

Some banks will also ask you to enter a reference or memo — a note that appears on both your statement and the recipient's statement. This is optional but useful if you are paying an invoice or sending money for a specific purpose. Keep the reference short and clear, like "Invoice 2024-001" or "Rent January."

Submit the wire and save your confirmation number

Once you submit the wire, your bank will generate a confirmation number. Write this down or take a screenshot — you will need it if you have questions about the transfer or if something goes wrong. The confirmation number is your proof that you sent the wire and the amount you sent.

Your bank will also send you a receipt, usually by email or through your online banking portal. This receipt shows the date, time, amount, recipient information, and any fees charged. Keep this receipt for your records.

The money will leave your account when ready or within a few minutes. The receiving bank will process it and deposit it into the recipient's account, usually within hours for domestic wires. International wires typically take one to three business days because they pass through multiple banks and clearing systems.

Track the wire if it has not arrived within the expected timeframe

For a domestic wire sent before 2 p.m. Eastern on a business day, the money should arrive the same day or by the next morning. For a wire sent after the cutoff or on a weekend or holiday, expect it to arrive the next business day. International wires take longer — one to three business days is normal, depending on the countries and banks involved.

If the money has not arrived after the expected time, contact your bank with your confirmation number. The bank can check the status of the wire and tell you whether it has been processed by the receiving bank. If the wire was sent to the wrong account, the receiving bank may be able to reverse it, but this is not may provide and can take weeks.

If the recipient says they have not received the money, ask them to check with their bank. Sometimes a wire arrives but takes time to post to the account, or it may be held pending verification. The receiving bank can look up the wire using your bank's name and the amount sent.

Understand why wires cannot be reversed once they are processed

Unlike a check or a credit card charge, a wire transfer is nearly impossible to reverse once the receiving bank has processed it. The money is no longer in your account, and the receiving bank has already credited it to the recipient's account. If you sent money to the wrong person or the wrong account, you would have to contact that person and ask them to send it back — the bank cannot force them to do so.

This is why banks ask you to verify the recipient's information before sending. Take time to confirm the account number and routing number are correct. If you are unsure, call the recipient and have them read the information back to you, or ask them to send you a voided check with their account and routing numbers printed on it.

Some banks offer wire recall services, which attempt to retrieve a wire before the receiving bank processes it. This works only if the wire has not yet been deposited into the recipient's account, which is rare for domestic wires because they move so quickly. Ask your bank whether they offer this service and what the fee is.

Frequently Asked Questions

Can I cancel a wire after I have sent it?

Not usually. Once the receiving bank processes the wire, it cannot be cancelled. If you catch the error within minutes of sending, call your bank when ready and ask whether they can recall it. This works only if the wire has not yet been processed, which is uncommon for domestic wires. For international wires, you have a slightly better chance because they take longer to clear.

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 costs $15 to $50. An ACH transfer takes three to five business days and is usually free. Use a wire when you need money to arrive quickly or when sending a large amount. Use ACH for routine payments like bills or payroll when you have time to wait.

Do I need to tell the recipient I am sending a wire?

Yes. Tell them the amount, the date you are sending it, and the approximate time it will arrive. This way, they know to expect it and can watch for it in their account. If they do not see it within the expected timeframe, they can contact their bank to investigate.

What happens if I send a wire to the wrong account number?

The money will go to whatever account has that number at that bank. You cannot recover it unless the person who received it agrees to send it back. This is why verifying the account number is critical. If this happens, contact your bank when ready and ask whether they can attempt a recall, then contact the receiving bank and explain the situation.

Are there limits on how much I can wire?

Most banks set daily or monthly wire limits for security reasons. Your limit depends on your account type and history. Check your bank's website or call to find out what your limit is. If you need to send more than your limit, you may be able to request a temporary increase by calling your bank.