How to Wire Money with Chase
As one of the big 4 banks in the US, Chase serves a huge number of Americans – and also operates in 100+ countries around the world. If you’re a Chase customer and need to send a payment to someone you may be trying to figure out how to wire money with Chase.
This guide covers all you need to know. Because traditional banks aren’t always the best option for international transfers, we’ll also look at some alternatives like Wise and OFX which may be able to offer a cheaper, faster and more convenient way to send an international transfer.
Chase Wire Transfers
Chase customers can usually send wire transfers online, by phone or in a branch. However, the exact options open to you will depend on the specific account type you have. There are a couple of Chase accounts which aren’t able to send or receive wires, like the Chase Secure Checking account, and some of the account products designed for children like the Chase First Checking Account.
When you send a Chase wire transfer you’ll need to provide information about the payment and the recipient. For domestic transfers this will usually include:
- Recipient’s name and contact information
- Recipient’s bank account information and transit number
- Recipient’s ABA routing number
- Details of the payment amount and the date you want the wire to be processed
If you’re sending an international wire you may find that you need a couple of extra details, which can include:
- Recipient’s bank SWIFT/BIC code
- Reason for the payment
- Intermediary bank information if available
How to wire money with Chase?
The fastest and easiest option to send a Chase wire transfer will usually be through the Chase online and mobile banking service. Here are the basic steps that will apply:
- Log into online banking and enroll in wire transfers
Before you can send a wire with Chase online or using your mobile device, you need to enroll in wire transfers. To do that, sign in to Chase online or mobile, and select Pay & Transfer, then Wires & global transfers, Get started and Next. You’ll need your phone nearby to complete the verification step, before reading and agreeing to the terms and conditions for online wire payments. Finally, tap Activate on the account you want to use.
- Add recipient
Once you’re all signed up, you need to add a recipient to send the wire to. Within the Chase online or mobile banking service, select Add a recipient, and complete the verification step by entering the code you’re sent to your phone. Read through the tips to stop fraud, and click Next. Follow the prompts to add the recipient’s bank and account information. Check everything over, then tap Next and Add recipient.
- Set up the transfer
To make your payment, you’ll need to select Pay & Transfer, followed by Wires & global transfers. For a domestic payment you then need to select the recipient from your recipient list, and tap the account you would like to wire funds from. Add the amount and date of the wire payment, then tap Next. Review everything, click Schedule Wire then Close, and you’re all done.
- Extra steps to send a Chase international wire
If you’re sending a Chase international wire, there are a few more steps to take. You’ll be guided through these on the Chase app or online banking service. Once you’ve selected Wires & global transfers you’ll need to tap the arrow to expand the foreign exchange rate calculator. Confirm if you’re sending to an individual or business, tap the account you’re paying from, and the country you’re sending to. Add the amount of your wire transfer in USD and then Send money. Select the recipient you’re sending to from your recipient list, and enter the wire date. Check everything over, tap Next and then Schedule Wire.
By Phone
Chase offers a wide variety of account products, including some that have the option for phone wire transfers. However, you’ll need to check the terms and conditions of your specific account type to see if phone transfers are available.
At a Chase branch
All eligible Chase account holders can arrange a wire transfer by visiting a branch location. In this case you’ll be talked through the process by a member of the service team. Make sure you have all the recipient and payment information to hand when you visit.
How to avoid international wire transfer fees
Sending an international wire with your regular bank can be expensive. There’s often a high transfer fee, plus potential intermediary costs – and you may not get the very best exchange rate on offer either.
You’re not out of luck through – here are some smart ways to cut or avoid international wire fees:
- Use a multi-currency account, from a specialist provider such as Wise or Revolut
- Choose a specialist international transfer service like Wise or OFX
- Compare your options with our comparison engine to see a range of providers, including their fees, rates and delivery times
Chase Wire Transfer Fees and Exchange Rates
Chase wire transfer fees vary depending on the account type you hold. If you have a Chase premium account like Chase Sapphire or Chase Premier Plus checking you may find all incoming and outgoing wire fees are waived. In some other accounts, only incoming fees are waived. Here’s a rundown of the fees you’ll pay if you have a standard Chase account and are not eligible to have the charges waived.
Chase Domestic Wire Transfer Fees
| Domestic wire fee (outgoing) | Domestic wire fee (incoming) |
|---|---|
| Online payments – 25 USD
Banker assisted payments – 35 USD | 15 USD
Fee may be waived if the transfer was sent from another Chase account |
Chase International Wire Transfer Fees and Exchange Rates
| International wire fee (outgoing) | International wire fee (incoming) |
|---|---|
| Online international wires sent in a foreign currency – 5 USD per transfer, waived for payments of 5,000 USD or more
Online international wires sent in USD – 40 USD per transfer
Banker assisted international wires – 50 USD
Exchange rate markups apply on all payments sent in foreign currency | 15 USD
Fee may be waived if the transfer was sent from another Chase account |
Chase exchange rates
You’ll see the Chase exchange rate which will apply to your wire when you start to arrange your payment. It’s useful to know that Chase sets its own exchange rates which will usually be less favorable than the rates you find using a currency converter tool or a Google search. That’s because Google will show you the mid-market exchange rate for your currency pairing, while Chase calculates its retail exchange rate to include a spread – also known as a markup. This is an extra fee, often of 3% or more, which is commonly added to the exchange rates big banks use when sending international wires. It might not sound like too much, but it can quickly add up, and may be the highest of all the individual wire fees you need to pay.
Additional fees
If you’re sending an international wire it’s helpful to understand how the payment is processed – as this can result in some surprise fees. Usually major banks use the SWIFT network to process international wires, which involves passing your transfer through 1 – 3 intermediary banks.
Each intermediary can deduct a service charge as they handle the payment – this may be called a correspondent bank fee or an agent bank fee. It’s not always easy to predict which intermediaries will be involved in the transfer – and this can mean that the recipient gets less than expected in the end.
Alternatives to Chase Wire Transfer
Modern online alternative providers like Wise and OFX could provide better exchange rates and lower fees when you’re sending a payment overseas. Here are a few to consider:
Wise: Low cost international transfers which use the mid market rate, to 80+ countries. Over 50% of payments arrive instantly, and you can set up an account online or in the Wise app easily without leaving home. To learn more about Wise, read our full Wise review.
OFX: Currency specialist offering personal and business payments to 50+ countries, plus currency risk management services, and a 24/7 phone support team to answer your questions. Read our OFX Review to learn more.
Western Union: One of the world’s largest payment providers, you can send payments with Western Union for delivery to bank accounts, as well as for cash collection, to mobile wallets and more.
Here’s a summary of Chase’s fees compared to a couple of online payment specialists – Wise and OFX:
| Provider | Domestic US transfer fee | International transfer fee | International transfer exchange rate |
|---|---|---|---|
| Chase | 25 – 35 USD | 0 – 50 USD | Exchange rates include a markup |
| Wise | 4.23 USD for wire transfer
0.2% variable fee + 0.71 USD for ACH payment | Low fees, varied by destination | Mid-market exchange rate |
| OFX | Not available | Low fees, varied by destination | Exchange rates include a markup |
Ultimately the amount you pay for an international transfer will vary based on where you’re sending your payment to. However, the chances are that a specialist provider will offer a better rate and lower overall cost compared to your bank – you may also get a better deal on domestic payment by using a provider like Wise, too. Compare a few to see which provides the best mix of cost and convenience for your needs.
How long does it take for a wire transfer with Chase?
Domestic wire transfers with Chase can usually be deposited in 24 hours. International wire payments can take longer – 1 to 5 working days, depending on the value of the transfer, the destination country and currencies, and the processes of the recipient’s own bank.
Receiving money into a Chase account
There are fees to receive a Chase transfer for some account holders. This can be up to 15 USD per payment – however it is waived for some premium account holders, and may also be waived if the transfer originated from another Chase account.
If you’re receiving a domestic wire into your eligible Chase account you’ll need to pass the sender the following information:
- Your name as shown on your Chase account
- Your account number and routing number
Depending on the sender’s own bank, you may also need to provide some additional information, like your contact details or the reason for the transfer.
Receiving International Wire Transfers
When you receive an international wire transfer into your Chase account you’ll need to give the sender all the information above, plus the Chase SWIFT/BIC code. The correct SWIFT code can be found by logging into your online banking service – but it’s usually CHASUS33XXX.
It’s also good to know that international wires can come with extra fees if they’re processed through SWIFT. These charges are deducted by intermediaries when the payment is processed – which can mean the sender can’t predict exactly how much you’ll get in USD in the end.
Conclusion
If you need to get money to someone quickly and safely, sending a wire through your normal bank may seem like an obvious choice. While most Chase accounts are able to send wire payments, there may be fees to pay – which can be particularly steep if you’re sending internationally.
Chase waives the incoming and outgoing wire fees for holders of a selection of premium accounts – which can prove valuable to customers holding these products. However, if you have a standard Chase account product you may find you’re better off sending your domestic or international wire through a specialist service like Wise or OFX. Use this guide to compare a few options – and see which fits your needs best.
Chase Bank Wire Transfer FAQs
What is the maximum amount you can wire with Chase?
Chase applies wire limits which may vary based on the account type you hold. Log into your online banking or visit a Chase branch to find out more.
What information do you need to make an international wire transfer with Chase?
Usually you’ll need the following to arrange your Chase international wire payment:
- Recipient’s name and contact information
- Recipient’s bank account information
- Recipient’s SWIFT/BIC code
- Reason for payment
- Details of the payment amount and the date you want the wire to be processed
How much is a wire transfer with Chase?
Sending a domestic wire can cost between 25 – 25 USD, depending on your account type and the details of the specific payment. International wires can cost up to 50 USD, although fees are waived for online transfers in foreign currencies over 5,000 USD in value. In this case an exchange rate markup – a different fee – will still apply to your payment.
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