Request Bank to Wire Funds Template

In plain language: Opens the letter with the account holder's full legal name or business name, address, and the date of the instruction.

Common mistake: Using a trade name or DBA instead of the exact legal name on the bank account — mismatches cause the bank to call back for verification, delaying the transfer.

In plain language: Addresses the letter to the specific bank, branch, and contact (or wire department) responsible for processing outbound transfers.

Common mistake: Sending to the general correspondence address instead of the wire department. Letters routed through general mail can take days to reach the right team.

In plain language: Specifies the account to be debited — account holder name, account number, and account type — so the bank can verify authorization and source of funds.

Common mistake: Providing only the last four digits of the account number out of habit. Wire desks require the full account number to process the instruction.

In plain language: States the exact dollar or foreign-currency amount to be transferred, written both numerically and in words to prevent transcription errors.

Common mistake: Omitting the currency code on transfers that could be processed in either USD or the beneficiary's local currency. Ambiguity results in the bank applying its default conversion rate without notice.

In plain language: Identifies the recipient by full legal name and account number — exactly as registered at the beneficiary's bank.

Common mistake: Using a nickname or shortened business name instead of the exact registered account name. Even a minor name mismatch can cause the receiving bank to reject or hold the transfer.

In plain language: Provides the receiving bank's name, address, and routing identifiers — ABA number for domestic transfers, SWIFT/BIC code for international, and IBAN where applicable.

Common mistake: Providing the SWIFT code alone for a transfer that also requires an IBAN. Many European and Middle Eastern banks will reject or return the payment without a valid IBAN.

In plain language: When the sending and receiving banks have no direct correspondent relationship, names the intermediary bank that will route the funds between them.

Common mistake: Inserting an intermediary bank that is not on the beneficiary bank's approved correspondent list. Incorrect intermediary details cause funds to be misrouted or held in a suspense account.

In plain language: A short, plain-language description of why the funds are being transferred — required for AML compliance screening and often printed on the beneficiary's bank statement.

Common mistake: Writing a vague purpose such as 'business payment' or 'services.' Regulators and correspondent banks apply stricter scrutiny to generic descriptions, which can trigger a compliance hold.

In plain language: States when the funds should arrive and who bears the transfer fees — OUR (sender pays all), SHA (shared), or BEN (beneficiary pays all).

Common mistake: Defaulting to SHA charges without informing the beneficiary. Under SHA terms, the beneficiary receives slightly less than the instructed amount, which can cause invoice short-payment disputes.

In plain language: Closes the letter with a statement authorizing the bank to execute the transfer, the account holder's signature (or authorized signatory), and a callback number for verification.

Common mistake: Omitting a callback phone number. Most banks require verbal confirmation for wire amounts above a threshold — without a reachable number on the letter, the wire is held until the bank can verify through other means.

It is a formal written instruction from an account holder to their bank directing it to execute an outbound wire transfer. The letter specifies the debit account, the beneficiary's name and bank details, the transfer amount and currency, any intermediary bank required, and the purpose of the payment. Banks use it to verify authorization and meet regulatory compliance obligations before releasing funds.

Many banks accept wire instructions through online banking portals or over the phone for personal accounts. However, business accounts, high-value transfers, and first-time payees frequently require a written authorization letter — either as the bank's standard policy or for internal audit and controls purposes. A written letter also creates a documented record that protects you if a dispute arises over whether or when an instruction was given.

For a domestic wire: your account number and ABA routing number, the beneficiary's full name and account number, and the receiving bank's ABA routing number. For an international wire: add the beneficiary bank's SWIFT/BIC code, the beneficiary's IBAN where required, the intermediary bank details if applicable, the transfer currency, and a stated purpose of payment. Incomplete instructions are the leading cause of wire delays.

Domestic US wires sent via Fedwire typically settle the same business day if submitted before the sending bank's cut-off time — usually 3:00–5:00 p.m. local time. International SWIFT wires generally take 1–5 business days depending on the destination country, correspondent banking relationships, and whether the transfer passes compliance screening without a hold.

These codes instruct the bank who pays the transfer fees. OUR means the sender pays all fees and the beneficiary receives the full instructed amount. SHA means fees are shared — the sender pays their bank's fee and the beneficiary pays correspondent and receiving bank fees, so they receive slightly less. BEN means the beneficiary pays all fees and receives the least. OUR is safest when you need a specific amount to arrive intact, such as settling an invoice to the penny.

An intermediary (or correspondent) bank is a third institution that routes an international wire when the sending and receiving banks have no direct relationship. You need one when the beneficiary's bank provides intermediary details in their wire instructions. Never add an intermediary bank unless specifically instructed — an incorrect intermediary will misdirect the funds and cause a return that can take 5–10 business days to resolve.

Wire transfers are not automatically reversible once settled. If you sent funds in error, contact your bank's wire department immediately — if the transfer has not yet been settled, they may be able to cancel it. Once funds reach the beneficiary's account, recall requires the beneficiary's bank to cooperate and the beneficiary to consent. The process can take days to weeks and is not guaranteed to succeed.

No. A wire transfer is a real-time or same-day irrevocable settlement through Fedwire or SWIFT. An ACH payment is a batched electronic transfer processed through the Automated Clearing House network, which typically takes 1–3 business days and can be reversed within a limited window. Wires are used for large, time-sensitive, or international payments; ACH is common for payroll, recurring vendor payments, and smaller domestic transactions.

Banks are required by anti-money-laundering regulations and OFAC sanctions screening obligations to understand the commercial rationale behind transfers, particularly international ones. A clear, specific purpose of payment reduces the likelihood that the transfer is flagged for additional review by a compliance officer at the sending bank, an intermediary, or the receiving bank — any of which can add days to the settlement timeline.