How to Conduct a Wire Transfer.
Executing a wire transfer is as easy as making one phone call.
You will need Recipient's name and bank account information Receiving bank's SWIFT identification
code Bank account and internet access (optional).
Step 1.
Determine the amount of the wire transfer.
Keep in mind that there are access fees which vary from one bank to another.
Step 2.
Write down the recipient's name, bank name, account number, and bank routing number.
For an international wire transfer you will need the receiving bank's SWIFT identification
code.
When time is of the essence, go online to to find a wire transfer service provider.
Step 3.
Call your bank or financial institution to authorize the wire transfer and provide the
information for yourself and the person on the receiving end.
The transfer will be completed the same day if you get approval from the bank manager
and the call is placed before their cut off time.
Step 4.
Call the recipient to let them know the transaction was completed.
Step 5.
Verify with the bank that the wire transfer was completed and request a mailed, faxed,
or e-mailed confirmation.
Did you know Western Union began offering money wire transfer services in 1871.