How to Pay by Wire Transfer


Sometimes debit or credit cards do not provide the assurance a business associate or creditor requires for a payment. Wire transfers are a safe and easy method of moving money from your bank account to a receiving bank account without sending a check or money order. The process is electronic and the money is moved by the bank and credited directly to the receiver's bank account. Money transfers can happen between domestic accounts or domestic and international accounts.

  • Gather the receiver's information. This will include the receiver's bank name and telephone number, the bank's routing number, the receiver's account number, name and address. International wire transfers need the Swift code for the international bank.

  • Gather your personal information. Wire transfers require your bank account number, the name on the account, your address, Social Security number and a phone number.

  • Contact your bank's customer service department to place the wire transfer. Some banks may provide a form and a way to send the wire transfer from your online banking account. Others may require you to visit in person to send the transfer. Many banks have transfer forms on the Internet and available to print from your computer.

  • Complete the wire transfer form. Place all the information about you, the receiver and the amount being sent in the appropriate spaces on the form.

  • Return the form as directed by customer service. Some banks may request that the form be sent via fax to the customer service department.

  • Ask for a transfer confirmation. Request a fax or email from the bank to confirm the transfer has taken place. You can also call the receiving bank to confirm that it received the funds.

  • Pay the required fee. Average wire transfer fees are about $15 for a domestic transfer and can be around $30 for international transfers. Some banks may take the fee directly from your bank account and others may request separate payment at the time the form is handed to a bank representative.

  • Contact the person or company you are paying and let him know that the transfer was initiated. Not all transfers complete quickly. International transfers can take a few days or up to a week to finalize.

Tips & Warnings

  • There is usually no fee required to receive a wire transfer.
  • Senders can also be noted as "customers" or "originators" on wire transfer forms.
  • Some wire transfer forms include an area for the bank to make notes about the transfer such as date and time. Leave these areas blank when completing the form.


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