Wire fee

What is a wire fee?

A wire fee is the charge your bank assesses for sending or receiving wire transfers. Outgoing domestic wires typically cost $15 to $30. International wires run $35 to $50 or more. Incoming wires may also incur fees of $10 to $20. These costs add up for businesses making frequent wire payments and should be factored into payment method decisions.

When wire transfers make sense

Wire transfers provide same-day guaranteed funds, making them appropriate for large transactions, time-sensitive payments, or situations requiring immediate availability. Real estate closings, international vendor payments, and urgent payroll funding commonly use wires. For routine payments, ACH transfers at a fraction of the cost usually make more sense.

Reducing wire costs

Negotiate wire fees as part of your overall banking relationship, especially if you maintain significant balances or transaction volume. Some business accounts include a number of free wires monthly. Batch international payments when possible. Consider whether same-day ACH meets your timing needs at lower cost. Track wire fees to ensure you are not overusing expensive transfers for routine payments.