How to Conduct a Domestic Wire Transfer from Your Bank
A wire transfer is one of the fastest ways to send money to another person or company as the transfer is set up between two bank accounts. Banks divide wire transfers into two types: domestic and international. A domestic wire transfer sends money from an account held in a United States bank to an account also held in a United States bank. A wire transfer allows you to send money to someone the same day or next day at the latest.
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Instructions
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1
Obtain information concerning the receiving bank account, including the receiving bank's wire routing number, the receiving bank's city and state location, the account number the money will be wired to and the name on the receiving account.
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2
Visit your bank to request the wire transfer. Unless you have pre-arranged with a code word or PIN for the bank to take wire requests over the phone, you must go to the bank or a bank branch to initiate the transfer. To authorize future wire transfers by phone, you still need to go into the bank initially to set up your transfer authorization.
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3
Provide the receiving account information gathered in Step 1 to the bank employee handling the wire transfer along with the amount of money to be wired. You may be asked to complete a wire transfer request form or verify that the form completed by the bank employee is correct. Ask when the wire is expected to be completed.
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4
Verify with the receiving party and your bank that the wire transfer was completed.
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Tips & Warnings
To receive a wire, you need to provide the same account information to the person sending you money.
Banks charge a fee to send a wire transfer and many charge to receive one. Check with your bank regarding the fees for wire transfers.
Some banks allow wire transfers to be initiated through the bank's online banking system. If you cannot go to a bank branch, check the company's website for other options.
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