![]() ![]() Safety concerns are natural when you're preparing to send a large sum of money directly from your bank account. Contact the recipient to let them know the money is in transit, and follow up to ensure they received the funds. Make sure you receive a confirmation of the transaction. Work with your bank to complete the necessary forms to transfer the funds. ![]() You can use your checkbook, bank statement or banking app to find your routing number and bank account number. You'll also need the recipient's name, ABA routing number (or SWIFT code for international wire transfers), account number and contact information. Gather the necessary account information for both the sender and recipient. When requesting a wire online, it may be helpful to have a customer service representative talk you through the process. Ask what information you need to request a wire and where to complete the transaction. If this is your first wire transfer with your bank, you may want to call ahead to discuss wire transfer services. Confirm your bank's wire transfer process.If you need to send money to a bank or financial institution located outside of the country, you'll request an international wire. Domestic wires are transmitted between banks in the same country. Determine if you need a domestic or international transferĭiscuss with the recipient where the money will go.Here's a step-by-step guide to the process: Any additional information needed to perform the wire transfer may vary between banks or financial institutions. How to do a wire transferīefore you request a wire transfer, gather the necessary information for both the sending and receiving bank accounts. An international wire takes at least two to three business days, possibly longer depending on the receiving country's time zone, banking processes or international holidays. You may also need to supply additional information for an international transfer. To send an international wire, you'll provide the recipient's banking and contact information. Banks and financial institutions may maintain tighter processes when sending money overseas and require customers to visit a branch. International wires send money to recipients outside the originating country. Domestic wire transfers generally clear within one business day. You'll need to supply the recipient's routing and bank account numbers and their contact information. Depending on your bank, you may be able to initiate a domestic transfer in a local branch, over the phone or by using a banking app. When you request a wire, you'll need to know the type of transaction to request - domestic or international.ĭomestic wires transmit funds to a recipient located in the same country as the sender. "Fees and Limits." Accessed May 18, 2020.Wire transfer procedures may differ when sending money within the same country versus overseas. "Six Things You May Not Know About the ACH Network." Accessed May 18, 2020. "Same Day ACH: Moving Payments Faster (Phase 1)." Accessed May 18, 2020. "Send Money in Person." Accessed May 18, 2020. "When Will My Receiver Get the Money?" Accessed May 18, 2020. "Can I Cancel a Money Transfer?" Accessed May 18, 2020. ![]() "Protect Your Mortgage Closing From Scammers." Accessed May 18, 2020. "Rules for Banks." Accessed May 18, 2020. Federal Deposit Insurance Corporation."Don't Bank on That Check." Accessed May 18, 2020. Wire Transfer: Which Should You Use?" Accessed May 18, 2020. "Wire Transfers From Chase." Accessed May 18, 2020. "Transfer Money/Shares - Frequently Asked Questions." Accessed May 18, 2020. "Checking That Goes Wherever Your Business Takes You." Accessed May 18, 2020. "7 Answers About Wire Transfers Every CFO Should Know." Accessed May 18, 2020. "What Is a Remittance Transfer?" Accessed May 18, 2020. ![]() "What Is a Wire Transfer?" Accessed May 18, 2020. "Appendix D - Fundamentals of the Funds Transfer Process," Pages 58–63. Department of the Treasury Financial Crimes Enforcement Network. "The Ins and Outs of Wire Transfers." Accessed May 18, 2020.
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