What you need before you start

To send money internationally by wire, you need information about the person or business receiving it, details about your own bank account, and a clear picture of what the transfer will cost. The receiving bank will ask for specific identifiers that vary by country — not all countries use the same routing system that the United States does.

Start by asking the recipient for their International Bank Account Number (IBAN) if they are in Europe, the Middle East, or parts of Africa and Asia. If they are in the United States, Canada, Australia, or several other countries, ask for their SWIFT code (also called a BIC code) and their regular account number. Some countries use both. The recipient should be able to pull this from their bank statement or online banking portal, or they can call their bank and ask for the information needed to receive an international wire.

You will also need to know the recipient's full legal name exactly as it appears on their bank account, their address, and the name and address of their bank. Small mismatches in names can cause delays or rejections. Ask the recipient to spell everything out rather than guessing.

Key Takeaways

  • International wires require the recipient's IBAN or SWIFT code, their exact legal name, and their bank's details — ask the recipient to provide these rather than looking them up yourself.
  • Your bank will charge a fee for sending the wire, and the receiving bank may charge a fee to receive it; ask your bank for the total cost before you initiate the transfer.
  • The wire will leave your account within one business day, but arrival at the receiving bank typically takes three to five business days depending on the destination country.
  • Once a wire is sent, you cannot cancel it if the recipient's bank has already received it; verify all details with the recipient before you authorize the transfer.
  • Some banks offer international transfers through their online portal, while others require you to visit a branch or call a dedicated wire desk.

How to initiate the wire through your bank

Log into your bank's online banking platform or call the wire transfer department. Most large banks have a dedicated phone line for international wires, and some allow you to start the process online and complete it by phone. Smaller banks or credit unions may require you to visit a branch in person.

You will enter the recipient's information into a form or provide it verbally to a bank representative. The form will ask for the recipient's name, account number, IBAN or SWIFT code, the receiving bank's name and address, and the amount you want to send. Double-check every field against what the recipient gave you — a single digit wrong in an account number can send the money to the wrong account.

Your bank will then show you the fee they will charge and may show you an estimated exchange rate if you are converting currency. Ask whether the receiving bank will also charge a fee and what the total cost to the recipient will be. Some banks deduct their fee from the amount you send, so the recipient gets less than you intended. Others charge the fee separately to your account. Confirm which applies before you authorize the transfer.

Fees and exchange rates

Your bank's fee for sending an international wire typically ranges from $15 to $50, depending on the bank and the destination country. Some banks charge more for certain countries or charge extra if you need the wire to arrive by a specific date. The receiving bank may charge $10 to $25 to receive the wire, though some banks do not charge receiving fees.

If you are sending money in a currency different from your account currency, your bank will convert it at their exchange rate. This rate is usually worse than the mid-market rate you see online — banks add a markup of 1 to 3 percent. You will not know the exact amount the recipient receives until the conversion happens, which occurs when the wire is processed.

Some banks offer better exchange rates if you use their international transfer service instead of a traditional wire, or if you send a larger amount. Ask your bank whether they have options beyond the standard wire transfer, and compare the total cost including all fees and the exchange rate markup.

How long the wire takes

Once you authorize the wire, your bank will debit your account within one business day. The money then moves through the banking system to the receiving bank, a process that typically takes three to five business days. Wires to some countries take longer — wires to certain parts of Africa, South America, or Asia may take seven to ten business days depending on the banking infrastructure and whether intermediate banks are involved.

The receiving bank will credit the recipient's account once they receive the wire. You will not know exactly when that happens unless you ask the recipient to confirm. Your bank can provide you with a wire reference number when you send the transfer; you can use this number to track the wire's status if it does not arrive within the expected timeframe.

Weekends and holidays in either country can add delays. A wire sent on Friday afternoon may not leave your bank until Monday, and if the receiving bank is closed for a holiday, the wire may sit in their system until they reopen.

What happens if something goes wrong

If you realize you made a mistake after authorizing the wire, contact your bank when ready. If the receiving bank has not yet processed the wire, your bank may be able to cancel it or redirect it. Once the receiving bank has received and processed the wire, cancellation is not possible — the money belongs to the recipient's account.

If the wire does not arrive within the timeframe your bank quoted, contact your bank with the wire reference number. They can check the status with the receiving bank. If the wire was sent to the wrong account because of an error in the recipient's information, the receiving bank can sometimes retrieve it, but this process is slow and not may provide.

If you sent money to a scammer or fraudster, contact your bank and the receiving bank as soon as possible. Banks can sometimes freeze accounts or reverse wires if they are reported quickly enough, but this depends on the receiving bank's policies and whether they have already released the funds.

Alternatives to traditional wire transfers

Some banks offer international ACH transfers, which work similarly to domestic ACH but take longer and cost less — typically $5 to $15 in fees. These are available to some countries but not all. Ask your bank whether ACH is an option for the country you are sending to.

International money transfer services like Wise, OFX, or Remitly often offer better exchange rates and lower fees than banks, though they may take slightly longer. These services are not banks, so the money moves through the banking system differently, but the end result is the same — the recipient's account is credited. If you are sending a large amount or sending frequently, comparing these services to your bank's wire fee can save you money.

Frequently Asked Questions

Can I wire money to a bank account in any country?

Most countries accept international wires, but some have restrictions or require additional documentation. Ask your bank whether they can send to the specific country and bank you have in mind. Some banks do not send to certain countries due to regulatory restrictions or high fraud risk.

What if the recipient's bank asks for a reason for the transfer?

The receiving bank may ask the recipient why they are receiving money. This is standard for large transfers and is part of anti-money-laundering compliance. The recipient should be prepared to explain that it is a personal transfer, a business payment, or whatever the actual reason is. Lying about the reason can cause the wire to be delayed or rejected.

Do I need to report international wire transfers to the government?

If you are a U.S. citizen sending more than $10,000 in a single wire or multiple related wires, your bank is required to file a report with the Financial Crimes Enforcement Network (FinCEN). This is routine and does not mean you have done anything wrong — it is a standard reporting requirement. The bank handles the filing, not you.

What if the exchange rate changes between when I initiate the wire and when it is processed?

The exchange rate that applies is the one in effect when the receiving bank processes the wire, not when you send it. You cannot lock in a rate in advance with a traditional wire transfer. If exchange rate risk concerns you, ask your bank whether they offer a forward contract or rate lock option, which some banks provide for larger transfers.

Can I send an international wire from my phone or online banking?

Some banks allow you to initiate international wires through their mobile app or website, while others require you to call a wire desk or visit a branch. Check your bank's website or call them to find out which method they support. Even if you can start the process online, your bank may require you to verify your identity by phone before the wire is sent.