Wire Transfer Cost: Current Prices & Fees

A wire transfer moves money directly from one bank account to another, usually within a day for domestic wires. People use wires for large or time-sensitive payments such as a home down payment, a car purchase from a private seller, or a business invoice. Banks charge for them because wires are hard to reverse and require staff and systems to process each one.

The fee depends on three things: the bank, the channel you use to send it, and whether the money goes out or comes in. Many banks charge the sender and, separately, charge the receiver. Fees below are published by the banks and reported by guides that track them, and they apply to standard consumer accounts. Premium or business accounts often get different terms.

Sending a wire within the United States is the most common case. The big banks cluster in the same band, with a lower price for online sending and a higher one when a banker handles it.

The channel matters. Online or mobile wires are cheaper because you enter the details yourself. A banker-assisted wire costs more, even though the transfer itself is identical. If you are comfortable with online banking, use it and save the difference. Always double check the routing and account numbers, because a wire sent to the wrong account can be difficult to recover.

Receiving a wire can cost money too. Some banks charge a fee when the funds arrive, and others waive it in certain situations.

Chase, for example, waives its incoming fee when the transfer was originally sent with help from a Chase banker or through chase.com or the Chase Mobile app. If someone is wiring you money, ask your bank whether you will be charged and whether any waiver applies to your account type.

Sending money abroad costs more than a domestic wire. Banks charge a higher outgoing fee, and the receiving bank, along with any bank in between, may take its own cut.

The fee listed is for sending in US dollars. If you send in a foreign currency, some banks waive the wire fee but build their profit into the exchange rate. That makes the true cost harder to see. Compare the total amount the recipient gets, not only the posted fee.

• Bank: each institution sets its own schedule.
• Channel: online costs less than a branch or banker.
• Direction: sending, receiving, domestic, and international wires are priced separately.
• Account type: premium checking, private client, and business accounts may waive or reduce fees.
• Currency: foreign currency wires may carry exchange rate markups instead of a flat fee.
• Intermediary banks: international wires may pass through other banks that deduct fees.

For smaller or less urgent payments, an ACH transfer between banks is often free or very cheap, though it takes a day or more. Many people pay each other through bank bill pay or payment apps. A wire makes sense when the payment is large, the recipient requires one, or timing matters, as with closing a real estate deal.

Money transfer companies are another option for international payments. Their fees and exchange rates vary, so compare the amount that arrives with what your bank would deliver. For tax, legal, or investment questions linked to a large transfer, talk to a licensed professional.

Wire fraud is common because wires are fast and hard to undo. Verify payment instructions by phone using a number you already trust, particularly if you got new instructions by email. Real estate and escrow wires are frequent targets. If you realize you sent money to a scammer, call your bank immediately and ask whether a recall is possible.

Confirm the fee before you submit. Banks show the charge on the wire request form, and your statement lists it afterward. Keep the confirmation number until the recipient confirms they received the funds.

Gather the recipient's name, address, bank name, routing number, and account number. Choose your sending channel, enter the amount, and review the fee shown. Authorize the transfer, which may require an extra security code. Many banks have a cutoff time for same-day processing, so wires sent late in the day may go out the next business day.