Wire transfers are well suited for situations where security and reliability matter more than speed or low cost. This makes them a useful choice for large, high-stakes transactions like real estate down payments, international business payments, and cross-border investments. In these situations, wire transfers are widely considered a secure option for moving large sums internationally, since they go directly between banks using verified account details and established networks like SWIFT.

International wire transfers typically take one to five business days to complete, though the exact timeline depends on a range of factors, from the countries involved to whether currency conversion is required. If the transfer needs to arrive by a specific date, building in a buffer of at least five business days is a reasonable safeguard—and more is ideal if currency conversion or intermediary banks are involved.

Sending payments internationally can involve more complexity, longer processing times, and higher fees. Despite these added hurdles, international payments—specifically wire transfers—are becoming more important as cross-border payments are expected to exceed $60 trillion by 2030.

Below, we’ll outline what you need to know about international transfers: how they work, average processing times, and common factors that cause delays.

What’s in this article?

• How international wire transfers work
  
• How long do international wire transfers take?
  
• Why international wire transfers might be delayed
  
• How to send international wire transfers
  
• How Stripe Payments can help
  

How international wire transfers work

While sending an international wire transfer is relatively straightforward, it involves the use of international banking networks and often requires currency conversion. Here’s an overview of the process.

• Initiation: As the sender, you initiate the wire transfer through your bank (this can be done online, through a mobile app, or by visiting the bank branch). You provide the following details for the transfer:

  • Recipient’s full name
    
  • Recipient’s address
    
  • Recipient’s bank name, address, and country
    
  • Recipient’s account number and type (savings or checking)
    
  • Recipient’s routing number (US) or BIC/SWIFT code (international bank identifier)
    
  • Reason for transfer (optional)
    

• Interbank communication: Your bank will communicate with the recipient’s bank using the SWIFT network, a secure messaging system for international financial transactions that assigns unique SWIFT codes to each participating bank.

• Intermediary banks optional: Depending on the route, your bank might use intermediary banks to move the funds closer to the recipient’s bank. Each intermediary charges a fee, adding to the overall cost.

• Currency exchange: If you’re sending in a currency different from the recipient’s account currency, your bank will convert the funds at their foreign exchange rate, which may include a markup compared to midmarket rates. Ask about the exchange rate before finalizing the transfer.

• Completion: Once the funds reach the recipient’s bank, they are credited to the recipient’s account.

Fees

• Sending fee: Your bank will charge a fee for initiating the wire transfer. This fee can vary depending on the bank, transfer amount, and currency. Depending on the bank and the sender’s preferences, fees can either be deducted from the total payment amount or added on top of the total.

• Receiving fee: The recipient’s bank might also charge a fee for receiving the transfer.

• Intermediary bank fees: If intermediary banks are involved, they may charge additional fees.

• Foreign exchange fee: If the transfer involves currency conversion, your bank might apply a markup on the exchange rate.

How long do international wire transfers take?

Generally, international wire transfers are not as fast as domestic transfers. While domestic wire transfers can be completed within one business day, international transfers typically take one to five business days. (Many international wire transfers are conducted via SWIFT, so the average SWIFT transfer typically takes one to five business days as well.) In rare cases, a perfectly executed transfer can reach the recipient within a single business day. But in situations with extensive fraud checks, multiple corrections due to incorrect details, currency exchanges, or transfers initiated outside of operating hours, transfers can take a week or even longer to complete.

Geography plays a role in timing as well. Transfers between regions with direct banking connections, such as North America and Europe, are typically settled more quickly. Transfers between Europe and Africa, on the other hand, might take longer due to additional compliance checks and potential delays with intermediary banks.

Once a transfer is initiated, funds move through a set sequence: the sender’s bank sends a message via SWIFT to the recipient's bank, intermediary banks process and pass the funds along if needed, currency conversion occurs if applicable, and finally, the recipient's bank credits the funds to the account. Each of these steps adds time, which is why the range can vary so widely from transfer to transfer.

If an international transfer is taking longer than expected, banks typically provide a tracking number or confirmation receipt you can use to monitor progress. From there, contacting your bank directly is the best next step—it can identify where the funds are in the process and advise on any corrections needed. If errors in the recipient's details are the cause, you may need to resubmit the transfer with corrected information.

Some banks offer same-day or expedited international wire transfers for a fee. This service can reduce the average transfer time to within 24 hours, under the following conditions:

• Early initiation: The transfer is initiated during the bank’s business hours.

• No currency conversion: Same-day transfers are generally limited to specific currencies or countries with direct relationships.

Online platforms can also offer faster processing times than traditional banks.

Why international wire transfers might be delayed

International transfers can be delayed for reasons including security checks and bank operating hours. Here are some common factors to consider.

Fraud prevention and compliance checks

To minimize the risk of fraudulent transactions, banks and financial institutions have security measures in place that can delay transfer times. Know Your Customer (KYC) verifies the sender's and recipient's identities. Transactions are also monitored under Anti-Money Laundering (AML) policies for unusual or suspicious activity. Banks additionally screen both the sender and recipient against government sanctions lists and watchlists before processing the transfer.

Incorrect or incomplete payment details

Even a minor typo in recipient information can cause the transfer to bounce back, requiring the sender to reinitiate it with corrected details. If the account number, SWIFT code, or International Bank Account Number (IBAN) is incorrect, the transfer will likely be rejected or rerouted and require manual intervention to complete. Similarly, errors in the recipient's name or address can lead to delays or even failed transfers, as can any inconsistency in the transfer instructions.

Holidays and weekends

Transfers initiated outside of bank operating hours will experience delays, and time zone differences can affect bank coordination. International wire transfer cutoff times can vary between countries and banks, though they are often sometime between 11:00 a.m. and 2:00 p.m. in the bank’s local time.

Banks typically do not process transfers on public holidays in either the sending or receiving country, and some banks observe additional bank holidays that can further impact processing times. Many international wire transfers are also processed only on business days, so a transfer initiated on a Friday might not be completed until Monday or Tuesday.

Currency conversion and exchange rates

Currency conversion can add one or more days to the processing timeline, and longer if the currencies involved are less commonly traded. If the recipient's bank doesn't hold the sending currency readily, it may need to source it from another institution. Banks might also delay transfers to secure favorable exchange rates or manage risks from currency fluctuations.

Bank relationships with intermediary banks

If the sending and receiving banks have a direct relationship, the transfer is often faster. When additional intermediary banks are involved, each one must process the transfer individually, adding extra time to the overall process.

Transfer method (manual vs. automated)

The method of initiating the transfer can affect its processing speed. Transfers that require manual intervention generally take longer to process, while automated transfers usually move more quickly—though delays can still occur if there is a system glitch or downtime.

Destination country factors

The country to which the transfer is sent can also impact processing times. Some countries have stricter regulations that require more thorough documentation or checks, which can extend the transfer time. Countries with less developed banking infrastructure might experience slower processing due to technical limitations.

How to send international wire transfers

Before initiating an international wire transfer, there are a few steps to take to ensure your transfer goes smoothly. Here’s how to send an international wire transfer.

Choose a bank or wire transfer service

Many traditional banks offer international wire transfer services, though their fees tend to be higher than other providers. Online payment platforms can perform international wire transfers with lower fees and faster processing times. For more competitive rates and better currency exchange rates, companies that specialize in international wire transfers are also worth considering.

Gather necessary information

Before initiating the transfer, collect all required details about the recipient and their bank. This includes the recipient's full name, address, account number, or IBAN—making sure the name matches exactly what's on their bank account—along with the bank's name, address, and SWIFT/BIC code. Many countries also require an IBAN to identify the specific account. Finally, note the transfer amount and currency, and verify the exchange rate and any conversion fees before proceeding.

Verify compliance requirements

Some banks require Know Your Customer (KYC) identity verification for both the sender and recipient before processing a transfer. If the transfer is unusually large or part of an irregular or frequent pattern, be prepared for additional scrutiny under Anti-Money Laundering (AML) regulations.

Initiate the wire transfer

Many banks offer online wire transfer services, though some transfers requiring additional verification might need to be initiated at a branch. When filling out the transfer form, provide all necessary recipient and bank information and double-check everything for accuracy to avoid delays. Depending on the bank, you might need to sign a form, provide additional identity verification, or authorize the transfer with a secure code. Payment of fees—typically including the wire transfer fee and any currency conversion fees—will also be required at this stage, with payment methods varying by bank and whether you're initiating online or in person.

Obtain confirmation and tracking information

Once the transfer is submitted, the bank or service should provide a receipt or confirmation with the details of the transfer. Some banks also provide a tracking number so you can monitor the transfer's progress as it moves through the system.

Notify the recipient

Let the recipient know when to expect the funds based on the average transfer time, and pass along any additional information they might need to claim the funds or avoid delays on their end.

Monitor the transfer

Use any tracking information provided to watch the transfer's progress. If the transfer takes longer than expected, follow up with your bank for a status update.

Address any delays or issues

If a delay occurs, contact your bank or transfer service to understand the cause and determine the appropriate next steps. If there are errors in the transfer details, you may need to correct them and resubmit the request.

How Stripe Payments can help

Stripe Payments provides a unified, global payments solution that helps any business—from scaling startups to global enterprises—accept payments online, in person, and around the world.

Stripe Payments can help you:

• Optimize your checkout experience: Create a frictionless customer experience and save thousands of engineering hours with prebuilt payment UIs, access to 125+ payment methods, and Link, a wallet built by Stripe.
  
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• Unify payments in person and online: Build a unified commerce experience across online and in-person channels to personalize interactions, reward loyalty, and grow revenue.
  
• Improve payments performance: Increase revenue with a range of customizable, easy-to-configure payment tools, including no-code fraud protection and advanced capabilities to improve authorization rates.
  
• Move faster with a flexible, reliable platform for growth: Build on a platform designed to scale with you, with 99.999% historical uptime and industry-leading reliability.
  

Learn more about how Stripe Payments can power your online and in-person payments, or get started today.