Typically, domestic wire transfers are available within a business day, while international wire transfers can take up to five days. In other words, whether sending money to relatives or completing a business transaction, wire transfers can quickly move money from one bank account to another, but they usually don’t go through instantly.
Below, you’ll learn the steps for making a wire transfer, how timing can vary, and alternative methods for sending money.
Key Points
• Domestic wire transfers typically complete within one business day; international transfers can take up to five days.
• Factors affecting transfer duration include timing, location, and transfer method.
• Required information includes personal and banking details for both parties involved, and possibly the transfer purpose.
• Steps include verifying funds, choosing a provider, filling out forms, and factoring in and paying fees.
• Expediting transfers may be possible, especially within the same bank, but may incur fees.
Factors That Affect How Long a Wire Transfer Takes
How long it takes to wire money depends on a few factors. Wire transfers exchange funds between two parties, and the timing, where the sender and recipient are located, and how funds are transferred can all influence its duration.
• Timing: While bank holders may have 24/7 access to ATM withdrawals, the same isn’t true for wire transfers. Banks and financial institutions may set cutoff times in the day for processing wire transfers. If a wire transfer is initiated after the cutoff time of the sender’s or recipient’s bank, it will be processed the following day. For this reason, it won’t be available in the recipient’s bank account the same day.
Also, wire transfers may be completed in batches rather than in real time. So even if you submit a wire transfer at 11am, the next batch might not be processed until, say, 3pm. This could delay the arrival of funds to the recipient’s bank.
• Geographic location: Whether you’re sending the money within the U.S. or abroad matters. The Expedited Funds Availability Act requires that wire transfers made within the U.S. are available to recipients within one business day. But in terms of how long it takes for a wire transfer to go through internationally, that usually takes between one and five business days. Such factors as the number of intermediaries, time zone differences, and regulations in the recipient’s country can impact timing.
• Transfer method: There are several ways to wire funds. You can wire money for immediate transfer domestically with the Federal Reserve Wire Network (Fedwire). Another option is the Clearing House Interbank Payments System (CHIPS), which processes transactions in batches, making it cheaper but slower than Fedwire. Though CHIPS can process international transfers, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is often used for making electronic payments abroad. SWIFT transfers undergo anti-fraud and anti-money laundering review processes, adding time to when the funds are available to the recipient.
Recommended: How to Transfer Money From One Bank to Another
What Do You Need to Complete a Wire Transfer?
To send funds with a wire transfer, you’ll typically need to provide personal and banking information for yourself and the recipient. These requirements can vary depending on whether you’re transferring funds with a bank or non-bank provider, but may include:
• Your driver’s license, or another valid government-issued photo ID
• Your bank account and routing number, if using a provider other than your bank
• The amount of money being transferred
• Possibly the purpose of the transfer, especially for international wire transfers
• Recipient’s personal information, including their full name, address, and contact information
• Their banking information, including the recipient’s bank account and ABA or routing number, and their bank address and phone number, especially when transferring abroad
• If transferring money outside the U.S., the SWIFT Code or Business Identifier Codes (BIC) and the National ID or IBAN number
Keep in mind that wire transfers are usually irreversible once they’ve cleared, unless a mistake is made by the sending or receiving bank. Double-checking to confirm the details before sending can avoid delays and help ensure the funds are received.
Steps to Making a Wire Transfer
Once you have the required personal and banking information, follow these steps to make a wire transfer.
1. Verify funding availability: Check your bank account to make sure you have enough money for the wire transfer. Funds must be available at the time of authorization to complete the wire transfer.
2. Choose a provider: Senders can opt to wire money with a bank or non-bank transfer service (such as Western Union). The cost of a wire transfer varies by provider, so be sure to compare fees before making a decision.
3. Fill out the forms carefully: To send a wire transfer, you’ll need to provide certain personal and banking information to the provider. Forms may be available online or completed in person. Be sure to double-check the account numbers, spelling of names, and other details before submitting.
4. Factor in fees: Providers can set their own rates for wiring money, with international transfers typically costing more than domestic transfers. Confirm these bank fees upfront and verify your account has sufficient funds to cover them. For outgoing domestic wire transfers, fees are often between $0 and $40, while international wire transfers can be between $0 and $50, depending on your account and other factors.
Keep in mind that the recipient’s bank may charge fees on top of what was paid to wire the money. Depending on the nature of your transaction, the recipient could ask you to cover those fees.
5. Get a receipt: It’s a good idea to keep a record of the transaction. Since wire transfers aren’t always immediate, having the confirmation or tracking number handy is useful for monitoring the payment.
Can You Speed Up a Wire Transfer?
Wire transfers are often used when money needs to be moved quickly. When time is of the essence, it may be possible to expedite the wire transfer. This option depends on the financial institution or provider used. It may be easier to speed up a wire transfer if the transaction is between two accounts held at the same bank. In some cases, a fee may be charged to move the money more quickly.
Being mindful of a provider’s cutoff time for sending and receiving wire transfers can help expedite a wire transfer. The cutoff time may occur before closing hours, and any request received after this time won’t occur until the following business day.
Can You Slow Down a Wire Transfer?
If you’ve made an error and want to pause or recall a wire transfer, it’s important to contact your provider immediately. You could have a window of opportunity to recall or pause the transfer for corrections if a cancellation notice is received before it’s credited to the recipient’s account. Typically, it’s a very small window of time, so act as soon as possible.
Do Wire Transfers Go Through on Holidays?
Wire transfers are typically only processed on business days and prior to a bank’s cutoff hours. If you wire money on a bank holiday or weekend, it likely will be delayed until the next business day.
When sending funds internationally, factoring in holidays and weekends merits additional consideration. For instance, a number of countries in the Middle East observe the weekend on Friday and Saturday, not Sunday.
Alternatives to Wire Transfers
Wire transfers aren’t the only option available for moving money between bank accounts.
Here are a couple alternative ways to send money to someone.
• Automated Clearing House (ACH) transfer: ACH payments allow businesses and individuals to transfer funds between financial institutions, such as banks, through an electronic network. This type of bank-to-bank payment requires an initial setup and takes more time to send funds than wire transfers. Usually, transfers take one to three days, but expedited service may be available. However, ACH fees are typically lower than wire transfer fees, and some banks don’t charge customers for them at all, factoring such costs into their overall fee structure. Check with your financial institution about whether you’ll be assessed a fee.
• Peer-to-peer (P2P) payment: A growing number of apps, such as Apple Pay and PayPal, can facilitate electronic payments between two users. P2P apps can link to a bank account, debit card, or credit card to transfer money quickly. However, transferring the funds from the app to a bank account can take several days or incur a fee for immediate transfer. Also, P2P apps may set limits on transfer amounts and whether you can send money abroad.
Recommended: ACH vs EFT: What Is the Difference?
The Takeaway
Wire transfers do not typically go through immediately. The speed will depend on several factors, including when you initiate the transfer, where it’s being sent, and the transfer method. Domestic transfers are usually completed within one day, while international ones can take between one and five days. In some cases, it may be possible to expedite a wire transfer.
There are multiple ways to transfer and receive money. SoFi currently offers incoming and limited outgoing domestic wire transfers, and our bank accounts have plenty of other features that make managing and sending money easy.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
FAQ
Are wire transfers immediate?
Wire transfers are typically completed within a day for domestic transactions and within one to five days for international ones, though there may be options available to expedite the transfer. Factors that can impact timing include the cutoff hours of financial institutions and whether it’s a business day or a weekend or holiday. In addition, transferring funds between two accounts at the same bank can often move more quickly than transactions between two different banks.
What happens if a wire transfer gets delayed beyond your control?
If a wire transfer is delayed, it can be wise to notify your bank or provider immediately to investigate the claim. They should be able to advise you on what the issue is and what (if anything) can be done to move the payment ahead quickly. You will likely want to let the intended recipient know as well. Keeping the receipt and having the reference number on hand can help you track the transfer.
Do international wire transfers take longer than domestic?
International wire transfers typically take longer than domestic wire transfers. Plan for up to five business days before the funds are available to the recipient. Domestic wire transfers are usually completed within one business day.
Photo credit: iStock/mladenbalinovac
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.
See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
SOBK1222012