How to Transfer Funds to a Foreign Bank From the USA
United States residents who do business internationally or who have family and friends overseas may need to send funds to a foreign bank account. Transferring funds to a foreign bank from the United States involves the use of an international wire transfer. An international wire transfer is an inexpensive way to send funds from a U.S. bank account to a foreign bank account. To wire funds internationally, a U.S. resident must know specific details about the foreign bank account to which they are wiring funds, such as the bank account number and the routing number.
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Instructions
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Determine how much money you would like to wire to the foreign bank account. Since most U.S. financial institutions do not send funds in foreign currency, use an international currency converter to convert U.S. dollars into the foreign currency so that you know how much money you are sending.
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Contact your financial institution to find out what you need to do to send an international wire transfer. Also, ask your financial institution what fees they charge for international wire transfer transactions. Depending on your financial institution, you may need to visit a local branch in person to complete this transaction.
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Provide your financial institution with the details of the foreign bank account to which you would like to wire funds: complete bank account number and the routing number or the ABA (American Banking Association) routing number.
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Pay the transaction fee for an international wire transfer and authorize your financial institution to use funds from an account you have with them. Ask your financial institution approximately how long it takes to send an international wire transfer. Be sure to keep all receipts after completing your international wire transfer.
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Contact the holder of the foreign bank account to confirm receipt of the funds. Depending on the location of the foreign bank and your financial institution, an international wire transfer could take up to two weeks to complete.
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