How to Do an International Wire Transfer

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Do an international wire transfer by contacting a bank, providing them with the routing number and ABA bank number of the receiving bank, and paying any transfer fees. Prepare to pay a fee if the wire transfer includes a currency exchange with information from a registered financial consultant in this free video on wire transfers.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser Patrick Munro on how to do an international wire transfer. Basically if an individual is doing business overseas and wants to send funds over in pretty close to real time, the best way to do that is international wire transfer. In order to do a successful international wire transfer, you should have a good relationship with your bank. The bank normally will charge you a fee ranging from a service fee of 35 to 45 dollars, plus if you want the money exchanged into currency that exists in that other country from U.S. dollars to say Indian rupees or Russian rubels or English pounds there will be a currency charge as well. With that in mind, you would simply get in touch with a bank and provide to them the routing number and ABA bank number of the bank on the receiving end of the wire transfer. This information would be provided to you by the party at the other end. This is Patrick Munro, financial adviser, talking about how to do an international wire transfer.

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