Wire transfer guide: What's a wire transfer and how does it work?

Whether you’re closing on a new home, paying a vendor, or sending a gift to family overseas, moving your money should be seamless.

We aim to remove the traditional obstacles that make wiring money feel slow or complicated. Read on to learn how a wire transfer can be one of the fastest and most reliable ways to send money between accounts electronically.

And, when you're ready to make your transfer, check out our guide to wire transfers with Revolut.

Exchange and transfer fees, fair usage limits, and Terms and Conditions apply.

The information provided is accurate as of February 9, 2026.

The content of this page is for general information purposes only and does not constitute financial advice. If you have any questions about your personal circumstances, please seek professional and independent advice. Revolut is not a financial advisor.

What's a wire transfer? Wiring money at a glance

Here’s the basics about wire transfers:

• Purpose: To send money electronically between financial institutions.
• Speed: Domestic wires generally arrive the same day, while international transfers take 1–5 business days.
• Requirements: You'll need the recipient's full name, account number, and routing or SWIFT/BIC code.
• Finality: Once a wire’s processed, it’s generally final, providing settlement certainty.
• Fees: With Revolut, a wire transfer costs just $10.

What's a wire transfer?

A wire transfer is an electronic method of moving money from you to another person or business through a network of financial institutions. It’s a 'push' payment, which means you instruct us or your provider to send the money, rather than a merchant 'pulling' the money from your account.

In the US, wire transfers are often the preferred choice for high stakes transactions. Because the money’s verified as available before the transfer starts, the person you're paying can generally access the money as soon as it lands in their account. This makes it a helpful way for you to handle urgent or large payments, such as real estate down payments or business acquisitions.

How a wire transfer works: The step-by-step process

When you send a wire, your provider doesn't physically move the cash. Instead, they use secure messaging systems to communicate with the receiving institution to settle the balance. Here's how it works:

1. Initiation: You provide the recipient’s details and the amount you want to send.
2. Verification: Your provider checks your account to check you've got the money available.
3. Communication: The provider sends a secure message via a network like Fedwire for domestic transfers, or SWIFT for international ones.
4. Clearing and settlement: The 2 institutions settle the balance through a central bank or clearing house.
5. Crediting: The recipient’s provider receives the instruction and adds the money to their account.

Domestic vs international wire transfers

Wire transfers are categorized based on where the money’s going, and each type uses a different network.

Domestic wire transfers

A domestic wire is sent between 2 accounts within the US. These transfers are typically processed through Fedwire or the Clearing House Interbank Payments System (CHIPS). They're usually very fast and can be completed within hours if you make the request before your provider’s cut-off time.

With us, transfers in USD to an account in the US generally don't incur a fee. They use the ACH system and are usually completed in 1–5 business days. However, if you choose a wire transfer specifically, we charge a $10 fee and your transfer will generally arrive within the same day.

International wire transfers

Often called remittance transfers, these involve moving money to an account outside the US. Most international wires use the SWIFT network, which connects thousands of institutions globally. Because these transfers often involve currency conversion and may pass through multiple intermediary institutions, they tend to take longer and may involve additional fees.

We opt for local payment systems that bypass SWIFT when possible to get your money there faster and more affordably. Usually, international transfers with Revolut via SWIFT arrive in 2 business days.

What information is needed for a wire transfer?

To make sure your money reaches the right destination, you'll need to get some specific details from the person you're sending money to.

For domestic transfers, you'll generally need:

• Recipient’s full name: The name exactly as it appears on their account.
• Recipient’s physical address: Required by many institutions for security and compliance.
• Bank name and address: The name and branch of the receiving institution.
• ABA routing number: A 9-digit code that identifies the specific institution.
• Account number: The unique identifier for the recipient's account.

For international transfers, you'll also need:

• SWIFT or BIC code: A unique 8 or 11-character code for the receiving institution.
• IBAN or local account number: Many countries use an International Bank Account Number to standardize transfers.
• Currency and country: Specify exactly where the money’s going to avoid conversion errors.

How long does a wire transfer take?

Timing is an important factor when you're choosing how to pay. Let's break it down:

• Domestic wires: These are typically processed within 24 hours. Many are completed on the same business day if you start them before the afternoon cut-off (usually between 3–5pm).
• International wires: These usually arrive within 1–5 business days. Time zones, local holidays in the destination country, and intermediary institution processing can all affect the speed.

With us, you can usually track your transfer in-app, so you know where your money is and have an estimated date for its arrival.

How much does a wire transfer cost?

The cost of a wire transfer depends on your provider and where you're sending the money.

• Outgoing domestic fees: Some providers charge up to $35. With us, a domestic wire transfer costs only $10.
• International transfer fees: We charge a small fee for sending money abroad. We’ll show you how much it is in-app before you hit Send.
• Incoming fees: Some providers charge a fee just to receive a wire transfer. Check with your recipient, and consider alternative transfer methods like Revolut-to-Revolut transfers to send money within seconds without fees.
• Exchange rate markups: For international transfers, most providers, including ourselves, add a margin to the exchange rate. Our rates are competitive and will always be shown in-app before you confirm your transfer.

Currency exchange in 25+ currencies with the Revolut exchange rate. Fair usage limits and weekend fees may apply, depending on your plan.

Wire transfer vs ACH: which should you choose?

You might also be thinking about making an Automated Clearing House (ACH) transfer. While both ACH and wire transfers are electronic, they're designed for different situations.

ACH is ideal for non-urgent, recurring payments, while wire transfers are built for speed and certainty.

Are wire transfers safe?

Wire transfers are secure because they rely on encrypted messaging between regulated financial institutions. However, their speed and the fact that they're difficult to reverse make them a target for fraudsters.

Protect yourself by following these 4 rules:

• Know the person you're paying: Never wire money to someone you haven't met or a business you haven't checked out properly.
• Verify instructions: If you receive wiring instructions via email, call the person on a known number to confirm the details.
• Check for errors: A single typo in an account number can lead to a major headache.
• Report issues quickly: If you think you've made a mistake, contact us or your bank immediately. While wires are hard to reverse, acting quickly gives you the best chance of a resolution.

Learn more about fraud and scams to protect your transfers.

How to start sending money with Revolut

We offer a modern way to manage your transfers with competitive rates and clear timelines. Here’s how to send a wire transfer in-app:

• Download our app: Get it from the App Store or Google Play Store and sign up in minutes.
• Add money: Put money into your account via a debit card, bank transfer, or Apple Pay or Google Pay.
• Start your transfer: Tap Payments, then the + symbol in the top-right corner. Next, choose Bank recipient.
• Enter details: Add the name, routing number, and account number of the person you're paying.
• Choose Wire next to Recipient’s details.
• Review and send: We’ll show you the exchange rate, any applicable fees, and the estimated arrival time. Tap Send when you’re ready.

For more details on how we’ve simplified the process, read our guide on how to wire from the US.