Banking and Finance
Elizabeth
July 27, 2021
At Cheese, it’s our goal to provide you with helpful, useful information that allows you to better navigate your financial life. So, we’ve developed resources that allow you to learn about monthly banking fees and, more specifically, all of the US bank banking fees you need to know about in order to avoid paying extra just to use your bank account.
When it comes time to transfer cash to someone else, however, whether they live in the United States or are currently abroad, you’ll definitely need to understand how to navigate US Bank online checking and services in order to send the cash. How much are US Bank’s wire transfer fees and how do you send a wire transfer through US Bank? We’ve got the answers for you.
What Are the Wire Transfer Fees at US Bank?
To complete a wire transfer, you usually need the name of the recipient, their bank name, account number, and pickup details. Depending on the banks that both the sender and the recipient use, it’s possible to initiate a wire transfer via the bank itself. Or, it can be done through a third-party money transfer service such as Western Union. And, there are almost always fees involved, both for incoming and outgoing transfers both internationally and domestically.
International Wire Transfer Fees at US Bank
Like every other major bank, initiating or receiving a US Bank wire transfer incurs a fee. The US Bank international wire transfer fee for a personal account is:
- Incoming foreign wire transfers are $25 per transaction
- Outgoing foreign wire transfers are $50 per transaction
US Bank’s wire transfer fees are a bit different for business accounts. The transfer fees for business accounts are:
- Incoming foreign wire transfers are $15 per transaction
- Outgoing foreign wire transfers are $70 per transaction
Domestic Wire Transfer Fees at US Bank
Want to make a US Bank wire transfer to another account within the United States? It’s possible. The USA domestic wire transfer fee for a personal account is:
- Incoming domestic wire transfer fees are $20 per transaction
- Outgoing domestic wire transfer fees are $30 per transaction
And, for a US Bank business account, the transfer fee is:
- Incoming domestic wire transfer fees are $15 per transaction
- Outgoing domestic wire transfer fees are $70 per transaction
However, it’s important to note that you can also transfer money with your US Bank account by using Zelle, a money transfer app that’s integrated into the US Bank app or online banking. It’s free for most users (depending on the bank of the recipient) and is a great alternative to a traditional wire transfer. Again, the ability to complete a transfer via Zelle or any other money transfer app depends on the bank of the recipient, how much you’re sending, and where the bank is located.
Wire Transfer Policies and Limits at US Bank
Are there wire transfer limits at US Bank? Yes, and they’re actually quite low compared to other banks. ACH transfer limits are set to about $2,500 per day depending on your account type. However, performing a Western Union money transfer through US Bank comes with a limit of $500 per day and just $1,000 per month. To successfully transfer the money through bank account, swift code will be needed to finish the transaction.
If you’ve decided to use Zelle (as mentioned above, it’s integrated into the US Bank online banking system for account users), the transfer limit is currently between $1,500 to $2,500 per day or between $5,000 and $10,000 per month, depending on the bank limits you have for your specific account. There are no limits to how much money you can receive through Zelle.
In terms of policies and other things to know about US Bank wire transfers, you’ll likely need to know certain information to complete the transfer, such as the bank’s SWIFT code, bank address, and more. Here is some helpful information:
- Bank Name: US Bank
- US Bank SWIFT code for incoming wires: USBKUS44IMT
- US Bank address:
800 Nicollet Mall
BC-MN-H20I 55402
Some wire transfers might ask for an IBAN, which is a set of numbers that create a code for transfer in Europe. The US doesn’t currently participate in IBAN, which means no American bank will provide you with an IBAN code. If you’re transferring money to an account in Europe that does use IBAN, you can usually find it by visiting their website or asking the recipient for the number.
Routing numbers and the beneficiary account number can all be found by accessing your US Bank account online or via the US Bank app. Here is a helpful guide on how to find your routing number with US Bank.
How to Send Wire Transfers Through US Bank
How to Send US Bank Wire Transfers Online
If you are going to initiate a wire transfer online through US Bank, you simply need to first log in to your US Bank account online or via the US Bank app. Then, follow these steps:
- Click on the “Transfer” tab
- Fill out the information, which might include the reason for the transfer, your relationship to the recipient, and all of the above-mentioned information such as the recipient’s address, their SWIFT or IBAN code, and routing number
- Complete the transfer
How to Send US Bank Wire Transfers Offline
It’s possible to initiate a US Bank wire transfer offline. All you have to do is head to your nearest branch with the information in hand. Consult this US Bank domestic wire transfer PDF to see what kind of information you’ll be asked to provide. Be sure to have a valid photo ID with you for your appointment.
Contact US Bank customer service to find out the bank’s operating hours and to potentially set up an appointment to avoid waiting in line.
Sign Up for a Debit Card with No Wire Transfer Fees
At Cheese, we’re dedicated to ensuring that our users pay $0 in monthly fees while enjoying other zero-fee perks such as no overdraft fees, no international wire fees, and no minimum balance fee. We waive all Cheese users one international wire transfer per year. And, while you’re saving on wire transfer fees, you’ll also be able to enjoy the savings of your fee-free and cashback-optimized debit card. Larger international banks such as US Bank aren’t usually able to offer the same level of fee-free assistance.
Interested in a fee-free card that comes with $0 in monthly fees and $0 in incoming international wire frees? Sign up today to receive your Cheese Debit Card that comes loaded with other perks such as savings opportunities.
Here're more you need to know bout wire transfers:
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