How to Wire Transfer Money
One of the fastest ways to transfer money between two parties is to wire transfer money. A wire transfer allows you to send money quickly and securely. The sender is required to provide information about the bank or institution receiving the funds. While a wire transfer requires you to pay a fee, the funds can be moved within a day. Wire transfers can offer a reliable alternative to writing checks or sending money orders.
Method One of Two:
Sending a Bank-to-Bank Wire Transfer Edit
Learn about wire transfers. A wire transfer is an electronic method of transferring funds from one person or company to another. One common method of sending a transfer is from one bank to another. To send a wire transfer, the sender provides information on the receiving party’s financial institution to their own bank. Once the transfer is complete, the sender’s bank provides a confirmation number documenting the transfer. 
- Assume that Person A wants to send money to Person B. Person A would begin by submitting instructions to his or her financial institution. The instructions would typically include the recipient’s bank name, ABA number, the recipient’s account number and the amount being sent.
- Bank-to-bank transfers require both the sender and the recipient to be account holders at their respective banks or credit unions.
- ABA stands for the American Banker’s Association. An ABA number identifies a specific federally chartered or state chartered bank or savings institution. The sender’s bank uses the ABA number to identify the receiver’s bank.
- The ABA number is the 9-digit number usually located on the bottom left corner of an account holder’s check. The number directly to the right of it is typically the account number. You can also find a bank’s ABA number online.
- Once the sender’s financial institution receives these instructions, they will send the funds to the recipient. The recipient will typically receive the funds on the same day.
- The sender is charged a fee of $20 to $40 for the transfer. The recipient may also be charged a fee.
Process a bank-to-bank wire transfer. Check your funds. Verify that you have sufficient funds in your account to complete the transaction. You should reconcile your bank account before the transfer. Confirm any outstanding checks or deposits that have not posted to your account. Once you confirm your adjusted bank balance, you can send funds. 
- Deduct both the amount of the transfer and any transfer fees from your bank balance.
- Contact your bank or credit union. Depending on the services your institution provides, you may be able to access the forms you need online. If not, you will need to call or visit a local branch. If the process is new to you, call or visit a bank branch.
- Complete your bank’s wire transfer form. You will need to fill out information for both you as the sender and for the receiver’s bank. For domestic banks, this will include the ABA number and account number for the receiver’s bank. You’ll also need to indicate the amount you are sending.
- Show or verify any required identification information. Before sending the money to another account, a state issued ID (if wiring in person) or verification information (if wiring over the phone or Internet) will be required to complete the transaction.
- After your wire transfer is sent, your bank will provide a confirmation number to you. Keep in mind that banks process transfers in the order they are received. You may not receive confirmation immediately. The receiving bank’s wire transfer department needs time to process your transfer.
Complete an international wire transfer. For international wire transfers, you will need the receiving bank’s BIC (Bank Identifier Code). One common type of BIC code is a SWIFT code. Both of these codes refer to a unique identifier for a bank. For wire transfers within the European Union (EU), you will need the IBAN (International Bank Account Number). Ask your bank to assist you with this if necessary. 
- You will need to complete a transfer form. The form will require information about the sending bank and the institution that receives the transfer. Ask your bank to help you gather the information you need for the receiving bank.
- If you are sending a wire overseas, you may be dealing with a foreign language. Call or visit your financial institution to be clear about the detail of the transfer.
- An international transfer will require your transferred funds to be converted from one currency into another. Make sure that you understand the current exchange rates for the two currencies. If your transfer requires the bank to convert US dollars into Euros, for example, make sure that you understand the exchange rate. If not, you may be not transferring the amount you intend to move.
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