Chase Bank Wire Transfer: What You Need to Know
Wire transfers are a reliable and efficient electronic payment method for moving funds swiftly and securely. Whether you need to send money to a family member across the country, pay an international vendor, or handle business transactions, Chase Bank will have your back. In this guide, we’ll explain how to initiate and cancel a Chase wire transfer and outline the existing Chase bank wire transfer fee structure.
How To Send a Wire Transfer With Chase: Essential Steps
Unlike other types of electronic transfers, wire transfers are typically processed in real time, making them ideal for urgent or high-value transactions. Wire transfers are widely regarded for their security and reliability, as they involve direct bank-to-bank communication and are closely monitored to prevent fraud.
If you create a Chase bank account, let's move on to transfers using it. Before you initiate a wire transfer with Chase, consider a few important requirements to ensure a smooth and secure transaction.
- Account Verification: Ensure you have an active Chase checking or savings account to be able to use Chase Bank wire transfer services.
- Recipient’s Info: To transfer funds, you will have to provide the recipient's full name, country, bank's name, routing number (for domestic transfers) or IBAN (for international wires), and account number.
- Transfer Method: You should decide between online banking, mobile app, calling a help rep, or visiting a Chase branch to complete an electronic payment.
- Identity Check: To create a wire, the bank will ask you to verify your identity by providing your passport or driver's license. So, make sure you have one of those docs at hand.
Steps to Wire Money With Chase
When all the required information and documents are prepared, here is how to wire money from Chase online:
- Log into your Chase account and select “Wires” in the “Pay and Transfer” section.
- Choose a domestic or international wire depending on your financial needs.
- If you’re sending money to an account for the first time, you will have to add a new recipient. The bank will ask you to verify their payment details by sending an activation code to your mobile phone. You can also save details of frequent payees and even set recurring payments for convenience.
- Enter the desired transfer amount.
- Double-check all the details you’ve entered for typing errors or mistakes before you complete the operation. At this point, the bank might ask for an additional security code or authorization for verification.
- When the process is complete, you’ll receive a confirmation number or email verifying the payment.
How long does a wire transfer take with Chase? If requested before 4 p.m., all wires are processed the same day. Domestic bank transfers are available within 24 hours, while international payments can be received within 2–5 business days.
Wire Transfer Fees
While offering the ultimate security against fraud and scams and handling bank-to-bank payments quickly, Chase will charge processing fees that depend on the wire type. You should be aware of those charges and make sure you have enough funds in your account to cover them when creating a wire.
Incoming Transfer Type | Fee |
|---|---|
Outgoing domestic transfer with help from Chase banker | $35 |
Outgoing domestic transfer online or on app | $25 |
Outgoing international transfer for consumers with help from Chase banker | $50 (regardless of currency type) |
Outgoing international transfer for consumers online or on app (if sent in US dollars) | $40 |
Outgoing international transfer for consumers online or on app (if sent in foreign currency) | $0 if the transfer amount is $5,000 or more; |
Read about how to avoid monthly service fee Chase in a separate article on our website.
Receiving a Wire Transfer to Your Chase Account?
To comply with Chase Bank receiving wire transfer instructions, you should provide the sender with the following information for a no-fuss transaction:
- Your full name as it appears on your account and address;
- Your Chase bank account number;
- Chase routing number specific to your account (normally, varies by the branch);
- Chase Bank’s SWIFT code for international wires.
Chase international wire transfer fee and domestic Chase wire transfer fee are the same. Notably, the bank applies a $0 charge for payments deposited via the Chase website or mobile app. Remember, though, that payments from abroad could also entail added fees imposed by intermediary banks. The same is true for wires in foreign currency that will involve conversion.
Chase doesn’t specify processing times for incoming wires since they depend on the sender’s financial institution and country. Typically, domestic transfers will be received within a day, and international wires are processed in up to 5 business days.
Tracking a Wire Transfer From Chase Bank
When you send a wire transfer with Chase, you’ll be able to keep an eye on its status using your online account or mobile app. Use the “Pay and Transfer” section within your dashboard or menu and locate the wire in question from the list of recent transactions. Click on it to view its status.
If there's a problem or delay with the payment, you can get in touch with Chase Bank's customer service by phone or via the website. The bank has a procedure for investigating delayed or problematic wires. They may initiate an inquiry to track its status and resolve the issue.
We recommend that you read our Chase credit journey reviews, which will come in handy if you need to check your credit score.
Canceling Your Chase Bank Wire Transfer
The possibility of canceling a payment largely depends on the timing. If the transfer hasn’t been processed or completed, there’s a higher chance of successful cancellation. You can find a “Cancel” button in the “Action” column next to your transfer online or in the app.
Once the funds have been received by another account, cancellation becomes more challenging. However, you can still try to contact Chase customer service to handle the situation. You should remember, though, that a Chase international wire transfer becomes irreversible in 30 minutes after authorization.
If the cancellation is successful, the bank may refund the payment back to your account minus any applicable service fees.
Final Thought
With Chase Bank’s reputation for reliability and its array of financial services, wires are a safe, fast, and easy way to send money. You can complete a Chase wire transfer using a mobile app or online account from wherever you are, and rest assured the funds will be received in time. Just double-check all essential details when creating a payment to avoid any potential issues.
You can always close Chase account if you don't like something about the service, the service, or if you just found a better alternative.
