Are wire transfers instant? Here’s what to know

Wire transfers are a popular choice for large payments both in the US and overseas. You can send funds for the down payment on a home or pay your international tuition fees.

But are wire transfers instant? We’ll take a look at everything you need to know, including wire transfer times for domestic and international payments.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

Learn more 🔎

Table of contents
Are wire transfers instant? How long does a wire transfer take? Domestic wire transfers International wire transfers Factors affecting wire transfer time How to send a wire transfer What to do if your wire transfer is lost

Are wire transfers instant?

Wire transfers aren’t typically instant, but domestic wire transfers may only take a few hours to reach your recipient.¹

Unlike other money transfer methods, wire transfers take place between 2 banks or financial institutions. Your bank will initiate the payment on your behalf and electronically transfer funds to your recipient’s bank.¹

This can take longer than some other payment types, especially if you want to send money overseas.

How long does a wire transfer take?

Most wire transfers should reach your recipient within 2 business days.¹ However, your wire transfer time will depend on your bank’s processing policies.

Let’s take a closer look at exactly how long domestic and global wire transfers take, including examples from a few US banks.

Domestic wire transfers

If you want to send a wire transfer to a recipient in the US, your payment may get there in just a few hours.¹ This means most domestic wire transfers are same-day payments.

However, if you send your wire transfer on a holiday or weekend, your recipient may need to wait until the next working day for their money.

Your bank may also use cutoff times for same-day transactions. For example, U.S. Bank® limits same-day wire transfers to before 8:00 pm (CT).

If you send your funds after this time, the payment won’t be processed on the same business day.²

International wire transfers

International wire transfers aren’t usually instant. Transfers to international locations may take up to 2 days to reach your recipient, depending on your bank and currency availability.¹

For example, most Bank of America international wire transfers may take 1 to 5 business days. You’ll need to make your payment before 5:00 pm (EST).³

If you want to wire money abroad, you’ll also need to think about international wire transfer fees. Most banks charge higher fees for wire payments outside the US.

You’ll likely pay an exchange rate charge to convert your money to the right currency for your international wire transfer.

Most banks add a markup to the standard mid-market exchange rate for currency conversion, which can really hike up the price of your global wire transfer.

Make fast, secure, and low-cost international transfers with Wise

Send money to 140+ countries with the mid-market exchange rate and low, transparent fees with Wise. Set up a free Wise account online or in the Wise app, to transfer money fast in 40+ currencies.

Over 50% of Wise payments arrive instantly* — and all Wise transfers are deposited directly into your recipient's bank account for convenience.

No ongoing fees, no hidden charges and no hassle — just fast, transparent international transfers that can beat the banks.

Get started with Wise

*Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions.

Factors affecting wire transfer time

A few factors can affect the amount of time it takes to send a wire transfer, both in the US and abroad.

If your bank requires you to initiate your payment in person, you’re restricted to your branch’s opening times. Your wire may take longer if you send it on a holiday or after your bank’s cutoff time.

Some banks use intermediary financial institutions to facilitate their transactions, particularly for international transfers. This can add additional time and costs to your transaction.

Other factors affecting your international wire transfer time include:

• going through additional security checks
• currency availability and conversion
• entering the wrong information for your recipient
• your recipient bank’s processing times

To speed up your wire transfer, make sure to prepare all the information you need in advance. You should also ensure you fill out your recipient’s details correctly.

If your bank requires extra verification steps, complete them as quickly as possible to avoid further delays.

How to send a wire transfer

It’s typically very easy to send a domestic or international wire transfer. To send a wire transfer in the US, follow these steps:

Step 1: Choose a provider for your wire transfer, such as your regular bank or a non-bank transfer platform like Wise

Step 2: If you choose a traditional bank, you may need to visit your local branch or log in to your bank’s online banking portal

Step 3: Fill out the relevant information for your recipient, pay your transfer fees, and follow any additional instructions

Step 4: Keep your wire transfer receipt to track your transfer

If you want to send a wire transfer overseas, the steps are usually the same. However, you may need to pay a higher transaction fee.

Information required to send a wire transfer

Here’s an overview of the information you’ll need about your recipient to send your wire transfer:

• Recipient name and address
• Bank name and address
• Account number
• Transit number
• Routing number

For international transfers, you’ll also need your recipient’s IBAN, BIC, or SWIFT code to complete the transfer.⁴

Every bank or money transfer platform has different fees, instructions, and requirements for wire transfers.

Some banks may let you send money via online banking or over the phone, for example. Speak to your provider for more information.

What to do if your wire transfer is lost

If you think you’ve lost a wire transfer, speak to your bank immediately. It’s hard for wire transfers to get lost, so it might just be that your payment is delayed.

You may have entered the wrong information, in which case you’ll need to speak to your financial provider for advice.

Unfortunately, you may not be able to change some types of wire payments. For example, U.S. Bank same-day transfers can’t be changed once you’ve sent them.

However, scheduled transfers can be changed or cancelled up to 11:59 pm (CT) on the day before your send date.²

---

Wire transfers aren’t instant. You’ll likely need to go into your local branch to initiate your payment and transfer funds.

This can take up to 2 business days for international transfers or a few hours for domestic payments, depending on your financial provider.

You’ll also need to fill out the correct information for your recipient. Make sure to consider any fees or exchange rate charges for your transfer.

To send and receive fast, low-fee international payments with just the touch of a button, check out Wise.

Sources

1. Investopedia - What is a wire transfer?
2. U.S. Bank - What is the cutoff time for external account transfers?
3. Bank of America - Send wire transfers
4. Smart Money - How to wire money?

Sources checked 07/30/2025