How do I send an international wire transfer? (2024)

FAQs

How to send an international wire transfer? ›

Yes, you will need a SWIFT code to make an international money transfer. This code helps ensure your money transfer arrives at the intended location.

Their Bank Identifier Code (BIC), SWIFT code or national bank code. Their bank account number or International Bank Account Number (IBAN). Their full name. Their bank's full address.

You'll need the correct SWIFT code for most international money transfers, so double-check the information before sending money. If you become aware of an error, contact your bank immediately. It may be able to reverse the payment if it hasn't processed.

Sending a US bank wire transfer internationally comes with a fee – there isn't a way to do one for free. The fee will vary depending on what country you're sending to, your particular type of account, and the terms and conditions of your transfer.

When sending an international bank wire, you will need to provide the recipient's name, address, banks SWIFT BIC, and bank account number, plus the International Payments System Routing Code, for certain countries (you will be prompted for this).

The phrases SWIFT transfer and international wire transfer are often used interchangeably. International wire transfers are any payment sent from one bank to another, to be deposited directly into the recipient's account. SWIFT is a payment network, which is commonly used by banks when sending wires overseas.

Each bank or credit union has their own rules and regulations on sending and receiving wire transfers. Not all financial institutions offer both domestic and international transfers, though. As you'll see below, a number of banks don't offer international outbound wire transfers.

Do I need IBAN if I have SWIFT? You might be asked to provide both an IBAN and SWIFT to help a bank identify exactly where the money needs to be sent to. Not all countries support the IBAN system, so if you're sending money to a country that doesn't you'll just need the SWIFT code for the overseas transfer.

Average wire transfer fees

Wire transfer fees have a wide range – from $0 to $50, depending on how and where you're sending the money. Domestic outgoing wire transfer fees typically range from $0 to $35, while international outgoing wire transfer fees are usually $35-50.

Do I need a routing number for international transfer? ›

If you're abroad and wish to transfer funds into a US bank account, you'll need to provide the ABA number. For international payments you'll usually need the account's BIC/SWIFT code as well, which can be found on the bank's website or calling customer service.

IBANs and SWIFT codes facilitate international money transfers. A SWIFT code is used to identify a specific bank during an international transaction. An IBAN is used to identify an individual account involved in the international transaction.

A SWIFT/BIC is an 8-11 character code that identifies your country, city, bank, and branch. Bank code A-Z4 letters representing the bank. It usually looks like a shortened version of that bank's name.

Average wire transfer fees

Wire transfer fees have a wide range – from $0 to $50, depending on how and where you're sending the money. Domestic outgoing wire transfer fees typically range from $0 to $35, while international outgoing wire transfer fees are usually $35-50.

Can I send money through Zelle internationally? Zelle is only available for customers with a US bank account and US registered mobile number. That means it's not an option for sending international payments to friends and family overseas.

Do I Need a Routing Number to Make an International Transfer? The USA is the only country that uses Routing Numbers, even when receiving money from a foreign bank account. The majority of countries around the world rely on IBANs for their banks to receive payments from abroad.

A SWIFT code refers to a specific financial institution in an international transaction, whereas an IBAN number identifies an individual account and the country of business. It's the global equivalent to a bank account and an ABA routing number in the United States.