International Money Transfer | Send Money Abroad with Wise (ex-TransferWise) (2024)

FAQs

International Money Transfer | Send Money Abroad with Wise (ex-TransferWise)? ›

Generally, if you request a transfer before your bank's cut off date, an international wire transfer typically should arrive within 1-5 business days.

Generally, if you request a transfer before your bank's cut off date, an international wire transfer typically should arrive within 1-5 business days.

All Wise transfers are set up online or in the Wise app, and you can choose to pay in AUD using a range of options including local bank transfer, card, POLi or PayID. Wise will then convert your funds to the required currency and deposit them conveniently into the recipient's bank account.

Wise accounts are a great alternative. Use the US dollar details which come with a Wise account to safely receive money in US dollars, which you can convert to spend conveniently in the USA. Wise converts at the mid-market rate with no hidden fees.

1,000,000 USD per local ACH transfer. 6,000,000 USD per local wire transfer when paying from your USD balance. 1,600,000 USD per international Swift transfer.

The receiving bank might take extra time to process it

After we send your money out to your recipient's bank, they'll process and clear the money. But some banks are faster than others — it might take up to 2 working days for some currencies.

On many popular routes, Wise can send your money within one day, as a same day transfer, or even an instant money transfer. Sometimes, different payment methods or routine checks may affect the transfer delivery time. We'll always keep you updated, and you can track each step in your account.

If you're considering using Wise for a payment or to hold a balance, it's natural to wonder if it's a legit service. The good news is that Wise is safe to use, whether you want to send or receive a payment, spend internationally, convert currencies or hold a balance.

Gather the information you need to make a wire transfer

Recipient's name and address. Name and address of recipient's bank. Recipient's wire transfer routing number. SWIFT code for international transfers.

Bank Transfer

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.

Should I give Wise my SSN? ›

We need to verify your social security number and ID

Like your bank, Wise is a regulated financial institution. To comply with local regulations (the USA Patriot Act) and our banking partner agreements, we need to verify the identity of any of our customers who want to order a debit card in the US.

To earn interest on your Wise Balance as a US customer, we have to make sure we're reporting your correct details to the IRS as an added layer of security.

This is where Wise can help streamline this process. Wise is cheap, fast and a secure alternative to sending an international wire transfer with Bank of America.

Yes, there are limits for how much you can send with us. They depend on which currencies you send to and from, and how you pay. You can check the limits for each currency in the Currencies articles. We'll also let you know if you try to send too much at one time.

Domestic wire transfers usually take less than 24 hours while international wire transfers can take up to 1 - 5 business days — they can be quite slow as many factors influence transfer time.

For most people, there are no limits on how much you can receive and hold right now.

Once the transfer has been processed, the funds will usually be deducted from the sender's account. However, this doesn't necessarily mean that it will arrive with the recipient at the same time. As stated above, international bank transfers will generally arrive within one to five working days.

International wire transfer: An international wire transfer between a U.S. bank account and an account in another country (also known as a remittance transfer) takes approximately one to five business days depending on differences in time zones, foreign currencies, and banking systems.

3. Enter your routing number and account number of the receiving bank or card to complete the transfer. Please note: it may take 3 business days to enroll and validate an account at another financial institution. And once an account is validated, it may take up to 3 business days to complete each transfer.

If the bank initiated the transfer, notify the bank immediately so that it can investigate your claim. If you first contact the bank by phone, it is a good practice to follow up in writing. If you wired the funds through a third party (e.g., Western Union), contact that party to find out what their procedures are.