What happens when you send money through Wise

Wise takes the money from your bank account, converts it to another currency if needed, and deposits it into a bank account you specify — anywhere in the world. The process takes one to three business days depending on where the money is going. Wise doesn't hold the money or act as a middleman; it moves your funds directly from your bank to the recipient's bank using the real exchange rate, not a marked-up one.

You start by creating a Wise account, linking your bank account, and entering the recipient's bank details. Wise then pulls the money from your account, converts it if necessary, and pushes it to the recipient's bank. You can track the transfer in real time through the Wise app or website.

Key Takeaways

  • Wise moves money directly from your bank account to the recipient's bank account using the real exchange rate, with no hidden markups.
  • You need the recipient's full name, bank account number, routing number (or SWIFT code for international transfers), and their bank's address.
  • Transfers within the US typically arrive within one business day; international transfers usually take one to three business days.
  • Wise charges a flat fee plus a small percentage of the amount you send, which you see before you confirm the transfer.

Setting up your Wise account and linking your bank

Go to wise.com or read the Wise app and create an account with your email address and a password. Wise will ask for your full name, date of birth, address, and phone number. This is standard verification — Wise needs it to comply with money transfer regulations.

Once your account is set up, link your bank account. Wise offers two methods: you can connect your bank directly through your bank's login (the faster route), or you can provide your routing number and account number manually. If you connect directly, your bank will ask you to approve the connection, and Wise will verify your account with two small test deposits — usually within a few hours. If you enter your details manually, Wise will make two small deposits to your account, and you'll need to confirm the amounts in the Wise app to prove you own the account.

Entering the recipient's bank details

When you're ready to send money, Wise will ask you to enter the recipient's information. You need their full name exactly as it appears on their bank account, their bank account number, and their routing number (for US accounts) or SWIFT code (for international accounts). For some countries, Wise may also ask for their bank's address or an IBAN.

Get these details from the recipient directly or ask them to provide a blank check — the routing number is the nine-digit code at the bottom left, and the account number is to its right. If you're sending money internationally, ask the recipient for their SWIFT code, which their bank can provide in seconds. Entering the wrong account number or routing number means the money goes to the wrong account, so double-check before you confirm.

Wise will show you a preview of the transfer: how much money will leave your account in your currency, how much will arrive in the recipient's currency, and what Wise's fee is. You can see the fee broken down — a flat amount plus a percentage of the transfer. Review this before you proceed.

Confirming the transfer and tracking it

Once you've reviewed the details and the fee, you authorize the transfer. Wise will pull the money from your linked bank account within one business day. You'll see the deduction in your bank account, and Wise will send you a confirmation email with a reference number.

From that point, you can track the transfer in the Wise app or on the website. Wise shows you each step: when the money left your bank, when it was converted (if applicable), and when it arrived at the recipient's bank. For US transfers, money typically arrives the next business day. For international transfers, the timeline depends on the destination country — most arrive within one to three business days, though some countries take longer.

The recipient will see the money in their account under the reference number Wise provides. If there's a delay, you can contact Wise support through the app, and they can investigate with the receiving bank.

Understanding Wise's fees and exchange rates

Wise charges two things: a flat fee that varies by currency pair (usually between $0.50 and $3), and a percentage of the amount you send (typically 0.5% to 2%, depending on the currencies involved and the transfer method). You see the total fee before you confirm, so there are no surprises.

The exchange rate Wise uses is the real mid-market rate — the rate banks use when they trade currencies with each other. Traditional banks and wire transfer services mark up this rate by 1% to 3%, which means you lose money on the conversion. Wise doesn't mark it up, so you get more of your money to the recipient.

The fee is the same whether you send $100 or $10,000, so Wise is most cost-effective for larger transfers. For very small amounts (under $50), the percentage fee can eat into your transfer, so compare it against other options first.

What to do if the transfer fails or takes longer than expected

Transfers occasionally fail because of incorrect bank details, a closed account, or a bank system issue. If your transfer fails, Wise will notify you and automatically refund the money to your linked bank account. The refund usually arrives within three to five business days. You can then correct the recipient's details and send the money again.

If a transfer is taking longer than the estimated timeline, check the Wise app for updates. Sometimes a receiving bank is slow, or there's a holiday in the destination country. If the transfer has been pending for more than the stated timeframe, contact Wise support with your reference number. They can contact the receiving bank and find out where the money is.

Sending money to different countries and currencies

Wise supports transfers to over 80 countries and conversions between dozens of currencies. The process is the same regardless of destination: you enter the recipient's bank details in their local format, Wise converts your money at the real exchange rate, and the money arrives in their account.

Some countries require additional information. For example, transfers to India may require the recipient's Tax Identification Number, and transfers to China may require their passport number. Wise will tell you what's needed before you confirm. If you're unsure about the format of a bank detail in another country, ask the recipient or contact Wise support — they know the requirements for each country.

Frequently Asked Questions

How long does it take for money to arrive?

Transfers within the US usually arrive the next business day. International transfers typically take one to three business days, depending on the destination country and whether it's a weekend or holiday. Wise shows you the estimated arrival time before you confirm the transfer.

What if I send money to the wrong account?

If the account number or routing number is wrong, the money may go to a different account. Contact Wise when ready with your reference number. They can try to recover the funds, but success depends on whether the receiving bank can identify and reverse the transaction. This is why double-checking the recipient's details is critical.

Can I cancel a transfer after I've sent it?

If you cancel before the money leaves your bank account, Wise will refund you in full. Once the money has been pulled from your account and sent to the recipient's bank, you cannot cancel — you would need to ask the recipient to send it back.

Is Wise safe to use?

Wise is regulated as a money transmitter in the US and holds licenses in other countries. Your bank account is verified before you can send money, and Wise uses encryption to protect your data. The company does not hold your money — it moves directly from your bank to the recipient's bank.

Why is Wise cheaper than my bank?

Banks mark up the exchange rate by 1% to 3% and charge wire fees on top of that. Wise uses the real mid-market exchange rate with no markup and charges only a small flat fee plus a percentage. For a $1,000 international transfer, the difference can be $20 to $40 in your favor.