Wire transfer is a fast and inexpensive way to send money from bank to bank.

Computers have made it so much easier to transfer funds between banks. You no longer need to mail a check. The easiest way to transfer money from one bank to another is by doing a wire transfer. Wire transfers make it possible for recipients to have the funds within a couple of hours for domestic transfers and a few days for international transfers. Each bank has specific wiring instructions to conduct transfers. You should follow these guidelines precisely to avoid any financial and legal penalties.

Contact the recipient and get his bank routing number and account numbers. He may need to contact his bank and get a wire transfer code, also called a SWIFT code, if the funds are going to a bank abroad. This code is a unique identifier that helps the bank representative ensure that she sends the transfer to the right bank. Confirm the transfer amount.

Go to your bank and ask for a wire transfer form. Fill out your information and the recipient's name, bank and account number and the amount. Sign the form authorizing the bank to transfer the funds from your account.

Present the form to the representative. The representative will need to verify your identity and that you have the funds in your account. Present your identification and you account number. Pay the appropriate fee.

Ask for the transfer confirmation. Sometimes the confirmation is not available on the spot because another department performs the transfer. Ask the representative to call you with the information. Ask the representative how long it will take for the funds to reach the recipient's account.

Contact the recipient and give him the confirmation code. Ask him to notify you when he receives the funds.

Things Needed

  • ["Recipient's name", "Recipient's bank name, routing and account numbers and a wire transfer code (if applicable)"]


  • Some banks may accept wire transfers over the phone. Contact your bank for information.

    Wire transfer fees vary by bank. Some banks charge a fee to receive a transfer. Both you and recipient should contact your banks to check the fee schedules.


  • Some banks have a wire transfer cut off time. If you submit your request before the deadline, the bank will complete the transfer on the same day. Otherwise, they will have to do it on the following business day.

    If you are wiring the money to pay for a purchase and don't know the recipient well, consider setting up an escrow account with a third party. The funds will be there until you receive the item. The third party will release the funds to the recipient once you have received your purchase.