How to wire money from one bank to another

Written by candi lemon
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If you need to transfer money from your bank account to another individual's or a business's bank account, you do a wire transfer. During a wire transfer, your bank sends the funds you authorised it to transfer electronically to the recipient's bank account. You don't handle the money, neither does the recipient. Most banks can complete a domestic wire transfer in the same day if they receive the request (and the funds are available) before their cut-off time, which varies from bank to bank. Otherwise, it generally takes one business day to complete the wire transfer.

Skill level:
Moderately Easy


  1. 1

    Request the wire information from the bank account you are transferring money to. You need to have the name of the beneficiary (the individual or business who are to get the money), the beneficiary's address, account number, bank name and address and SWIFT ID (The Society for Worldwide Interbank Financial Telecommunication Identification) or ABA number (The American Bankers Association number.)

  2. 2

    Contact your bank and verify their wire transfer procedures. Many banks allow their customers to complete a wire transfer online. If you do online banking, completing a wire transfer online can be your best option. Ask your bank for instructions on completing the wire transfer online. Otherwise, you can visit your bank's branch nearest you to request a wire transfer.

  3. 3

    Complete the "Funds Transfer Request" form with all the required information. Specify the amount of the funds you wish to wire transfer and make sure you have the funds available in your bank account. Many banks charge a wire fee; make sure you have enough funds to cover that as well.

  4. 4

    Submit the form either online or in person to your bank. You should receive a verification number that your bank received your request.

  5. 5

    Request that your bank informs your when the wire transfer is complete and the recipient gets the money. You bank can generally do that via e-mail or phone.

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