The basic steps to wire money from one bank to another
To wire money between banks, you need three things: your recipient's full name, their account number, and their bank's routing number. You then contact your sending bank—by phone, in person, or through their online platform—give them those details plus the amount, and they move the money electronically. Most transfers arrive within one to two business days, though some same-day options exist if both banks participate in faster networks.
The process itself is straightforward because banks have standardized it. You are not filling out forms or waiting for approval. Your bank checks that the receiving account exists and matches the name you provided, then sends the funds. The main variables are how you initiate the transfer and whether you pay a fee.
Key Takeaways
- You need the recipient's full name, account number, and their bank's routing number before you start—get these details correct because a wrong routing number sends money to the wrong bank.
- Wire transfers typically cost $15 to $30 per transaction, though some banks waive fees for customers who meet balance or account requirements.
- Most transfers settle within one to two business days, but same-day options are available through networks like FedNow if both banks participate.
- Once a wire leaves your bank, you cannot cancel it unless the receiving bank has not yet processed it, which usually happens within hours.
Where to get the routing number and account information you need
The routing number is a nine-digit code that identifies the receiving bank. You can find it on the recipient's checks (it is the first set of numbers on the bottom left), on their bank's website, or by calling their bank directly. Ask for the "ABA routing number" to make sure you get the right one—some banks have multiple routing numbers for different purposes.
The account number is usually on the check as well, printed after the routing number. If the recipient does not have checks, they can log into their online banking or call their bank to confirm both numbers. Always verify these details with the recipient directly rather than trusting a text or email, because a single digit wrong sends the money to someone else's account.
How to initiate a wire through your bank
Most banks offer three ways to send a wire: online through their website or app, by phone with a representative, or in person at a branch. Online is usually fastest if your bank's platform is straightforward. You log in, select "send money" or "wire transfer," enter the recipient's bank details and the amount, review the details, and confirm.
Phone and in-person wires take longer because a representative must verify your identity and enter the information manually, but they are useful if you have questions or if your bank's website is confusing. Some banks require you to call for larger amounts as a fraud prevention measure. Ask your bank whether they charge a fee and whether it varies by method—some waive fees for online transfers but charge for phone or branch wires.
Timing: when the money actually arrives
Standard wire transfers settle within one to two business days. Your bank sends the wire the same day you request it (if you request it before their cutoff time, usually 2 or 3 p.m.), but the receiving bank processes it the next business day. Weekends and bank holidays add time, so a wire sent on Friday afternoon may not arrive until Tuesday.
Same-day wires are now possible through networks like FedNow and RTP (Real-Time Payments), but not all banks participate yet. Ask your bank whether they offer same-day wires and what the cutoff time is. Same-day transfers usually cost more than standard wires and may have lower limits on how much you can send.
Wire transfer fees and what affects the cost
Domestic wire transfers typically cost $15 to $30 per transaction. The exact fee depends on your bank and whether you are sending the wire online, by phone, or in person. Some banks charge less for online wires and more for phone or branch wires. A few banks waive wire fees entirely if you maintain a certain balance or have a premium account type.
International wires cost significantly more—usually $35 to $50 or higher—because they pass through multiple banks and currency conversion may be involved. If you are sending money internationally, ask your bank about the total cost upfront, including any fees the receiving bank may charge on the other end. Some banks quote only their own fee and not the receiving bank's charge.
What to do if you sent money to the wrong account
Once a wire leaves your bank, you cannot straightforward cancel it the way you can cancel a check. However, if the receiving bank has not yet processed the wire—which usually happens within a few hours—your bank may be able to recall it. Call your sending bank when ready and ask whether they can attempt a recall. Provide them with the wire confirmation number, the amount, and the receiving bank's routing number.
If the receiving bank has already processed the wire, your only option is to contact the receiving bank directly and ask them to return the funds. You will need to explain the error and provide documentation. This process is slow and not may provide to work, especially if the account holder has already spent the money. The best protection is to verify the account number and routing number with the recipient before you send anything.
Alternatives to wire transfers for moving money between banks
If you own both accounts, the simplest option is often an ACH transfer (Automated Clearing House), which is free or costs just a few dollars. ACH transfers take three to five business days but are reliable for moving money between your own accounts. Most banks offer this through their online platform under "transfer between accounts" or "external transfer."
If you need money faster and do not want to pay wire fees, some banks offer same-day ACH, which settles the same business day. Check whether your bank participates. For very large amounts or international transfers, a cashier's check from your bank is another option, though it requires in-person pickup and delivery, making it slower than electronic methods.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
Only if the receiving bank has not processed it yet, which usually happens within hours. Call your bank when ready with your wire confirmation number and ask them to attempt a recall. If processing has already begun, you cannot cancel it—your only option is to contact the receiving bank and ask them to return the funds, which is not may provide.
What happens if I use the wrong routing number?
The money goes to the wrong bank, and you will need to contact that bank to try to recover it. This is why verifying the routing number directly with the recipient or their bank is critical. If the receiving bank cannot locate the account, the funds may be returned to your account after several days, but this is not automatic.
Do I need to tell the receiving bank I am sending them a wire?
No, the wire arrives in their account automatically once their bank processes it. However, it is helpful to let them know you are sending it so they are not surprised by the deposit and can confirm they received the correct amount. This also gives them a chance to catch any errors before the money arrives.
Are wire transfers safe?
Wire transfers are find once the money leaves your bank, but they are vulnerable to fraud before that point. Scammers often trick people into wiring money by impersonating a trusted person or organization. Never wire money to someone you do not know or based on an unsolicited request, even if the sender claims to be from your bank or a government agency.
What is the difference between a wire transfer and an ACH transfer?
Wire transfers are faster (one to two days) and more expensive ($15 to $30), while ACH transfers are slower (three to five days) but free or very cheap. Wires are also harder to reverse once sent. Use wires for urgent transfers or large amounts; use ACH for routine transfers between your own accounts or when cost matters more than speed.