How to make an international wire transfer: UK guide (with steps)

What is an international wire transfer?

An international wire transfer is simply an electronic transfer made between bank accounts in different countries.

When you use a bank, it typically involves using one of two systems - SWIFT or SEPA. Which one will be used depends on where you’re sending money to.

Understanding SWIFT and SEPA payments

When you send a transfer in euros (EUR) to a bank account located in Europe, it’s likely that it’ll be sent via SEPA.

This stands for Single Euro Payments Area, and it includes a total of 41 countries including all EU member states. The system was designed to facilitate seamless electronic payments in euros across Europe.

If you’re sending money in non-EUR currencies or to a destination outside of the SEPA zone, it’s likely that SWIFT will be used instead.

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, and is a global messaging network that allows banks to send and receive information about financial transactions.

When to use a wire transfer

If you need to send large sums between countries quickly and securely, you’re likely to use a wire transfer. Common examples of when they’re used include real estate purchases abroad and payment of international invoices between businesses.

How much can you send?

There’s no official or legal upper limit to how much you can send with a wire transfer from the UK. However, your bank or the provider you’re using is likely to have its own limits.

For example, with Wise you can send up to £1 million GBP in one transaction. This can also be increased to £20 million GBP per transfer by using your Wise account to create the relevant currency balance.

What information do you need to make an international transfer?

To send money overseas, you’re likely to need the following details to hand:

• Your recipient’s name and address
• Their bank account details and International Bank Account Number (IBAN)
• The Bank Identifier Code (BIC) or SWIFT code of the recipient’s bank
• The bank’s name and address.

Recipient's personal and bank details

While it may vary by provider, generally you’ll need to provide the full name and address of the recipient when setting up an international transfer. It’s important that the name matches what’s on their bank account.

You’ll also need their bank details, including their account number and sort code. These can vary by country, so if they’re in the US it’ll be a routing number instead of a sort code.

Understanding IBAN, BIC, and Sort Codes

The sort code (UK), routing number (US) or BSB number (Australia) is essential for identifying the particular branch of a bank in a country. If you don’t know it, you can use this sort code calculator to find out the recipients’ sort code.

Alongside this, you may need to provide an IBAN number and/or a SWIFT/BIC code.

BIC stands for Bank Identifier Code, and is used to identify the country, city, bank, and branch the account is registered with. It’s often called a SWIFT code. You can use a handy online BIC/SWIFT code finder.

Lastly, there’s the IBAN. This stands for International Bank Account Number, and is a globally recognised code identifying banks across the world. It’s often used alongside BIC, although not all countries use it.

It’s really important to get all of this information together before sending your transfer, otherwise you could face delays.

Information for business payments

Generally speaking, you’ll need the same information for business payments as you will for personal transfers across international borders.

To make it easy, you can open a Wise Business account - it lets you manage company finances in 40+ currencies and send money worldwide for low fees* and at the mid-market rate. You can also use it for invoicing, bulk payments and much more.

How to make an international wire transfer from the UK

There are a few different ways you can make an international transfer from the UK:

• Your bank - via a SWIFT transfer
• A specialist money transfer provider such as Wise, Western Union, MoneyGram or WorldRemit
• Other online payment providers such as PayPal.

Some methods are faster and more convenient than others. For example, you can send money worldwide with Wise in just a few clicks, sending and tracking payments online.

Between April and June 2025, 70% of transfers with Wise arrived in under 20 seconds. You can read Wise’s latest Mission Update for more details.

Note: Transaction speed claimed depends on individual circumstances and may not be available for all transactions.

Step-by-step online money transfer guide

Setting up an international bank transfer can be quite straightforward, depending of course on the bank or provider.

It’s similar to making an ordinary transfer (especially if you are registered for online banking), except that a few more details are required.

Here’s how to do it:

• Login to your online banking account - or call your bank or visit a branch to arrange your transfer.
• Make sure you have all the required details (see the section above for a full list of what’s needed for international transfers) and that you have enough money in your account to cover the payment, plus any fees.
• Enter the recipient’s bank details, including their IBAN and the SWIFT/BIC code for their bank.
• Enter the amount you want to send and choose the currency you’d like your recipient to receive the money in. You might find that the currency is set automatically when you enter your recipient’s information and bank details.
• Double check all the details, the amount, exchange rate and fees - and confirm.

Sending money in-person at a bank

If you prefer to do your banking face-to-face, you can head to a local branch of your bank to make your transfer. You’ll need all of the same details, but are likely to also need a form of photo ID such as your passport or driving licence.

Transferring funds over the phone

Another option is to set up your transfer over the phone. You can simply use your bank’s telephone banking service (if available) and a customer service agent will walk you through the process.

However, this can be much more time-consuming compared to sending a payment online with a provider like Wise.

Making an international payment with Wise: Step-by-step

Here’s how to send money overseas with Wise, in just a few easy steps:

Step 1 - Create an account

Go to the Wise website and sign up with your email address. You’ll also need to create a password and complete ID verification steps.

Step 2 - Choose a recipient

Get started by going to ‘Send’ on the Wise Home screen. You can then create a new recipient by entering their details, or select from a list of saved recipients (if you’ve previously added any).

Step 3 - Enter the amount

Enter either the amount you want to send, or the amount you want the recipient to receive. Choose the currency and check the fees and exchange rate. If you’re happy, select ‘Continue’.

Step 4 - Pay for your transfer

Choose which payment method you want to use to fund the transfer - the fees for each will be clearly displayed on-screen.

Step 5 - Review and send

Check all of the details carefully, just in case of any mistakes. Then, you simply need to select ‘Continue’ and then ‘Send’. Wise will receive your money and start the transfer. You’ll receive a confirmation and can also track your payment in the Wise app.

Costs of international wire transfers: Fees and exchange rates

There are two main costs to factor in when making an international transfer - the upfront transfer fee, and the exchange rate.

Below, we’ll take a look at how much you can expect to pay with banks and other providers.

Remember that Wise always offers low fees* at mid-market exchange rate on international transfers, so there’s no extra margin or markup added on top. You’ll know exactly what you’re paying upfront, and it could work out cheaper than banks and other providers.

UK high street bank fees

Here’s what some UK high street banks charge for international transfers:

Other providers

When it comes to other non-bank providers such as Western Union, MoneyGram, WorldRemit, Remitly and Wise - the fees vary depending on the details of the transfer.

Things that could affect it include the amount, currency and where you’re sending to, as well as your choice of payment and delivery/collection methods.

Understanding exchange rate mark-ups

When you send money overseas, the exchange rate you’re given can greatly affect the cost - in some cases, more than the upfront transfer fee.

This is because some banks and providers add their own mark-up to what is known as the mid-market exchange rate. This helps them make a profit, but it makes the transfer more expensive for you.

How to avoid exchange rate mark-ups

The best way to avoid exchange rate markups is to compare providers before sending. Check the mid-market rate (the one you find on Google) for your chosen currency pair, and compare what you’re being offered to that.

If you sign up with Wise, you’re guaranteed the mid-market rate with no markup. You can also set up exchange rate alerts, and see all transfer fees upfront.

How long does an international wire transfer take?

Alongside the cost, you’ll also want to know about transfer speeds. These vary between providers, as we’ll see below.

Standard transfer times from the UK

If you’re sending a SWIFT payment with a bank, you can expect it to arrive between 1 and 5 working days. SEPA payments in euros can often be faster than this.

It can be even speedier still with online money transfer services, with many payments arriving instantly, the same day or the next working day.

For example, between April and June 2025, 70% of transfers with Wise arrived in under 20 seconds.⁶

Note: Transaction speed claimed depends on individual circumstances and may not be available for all transactions.

Things that can delay your transfer

Missing or incorrect information is the biggest cause of transfer delays, so make sure you check all details carefully before sending.

Other potential causes of delays may include:

• Weekends and bank holidays
• Anti-fraud checks (especially for large payments)
• Global events and natural disasters.

Receiving an international wire transfer in the UK

Need to receive money from overseas? You’ll need to make sure you give your recipient all the required details for your bank and account, and watch out for any fees.

📚 Receiving money from abroad

Information to provide the sender

To receive an international payment, you’ll need to give the sender the following information:

• Your full name and address
• Your bank’s name and address
• Your bank account details and International Bank Account Number (IBAN)
• The BIC/SWIFT code for your bank.

Are there fees for receiving money from abroad?

Some banks do charge fees for receiving international payments, and it’s usually slightly more expensive to receive transfers over £100.

For example, Barclays charges £6 to receive international payments over £100², but under that, it is free. However this doesn’t include Barclays exchange rate which is 2.75% for Personal and Premier customers and 2% for Business customers².

Alternatives to traditional bank wire transfers

Sending money abroad with a bank can be slow and expensive, so you might want to shop around for alternative options.

There are a number of providers to choose from, including Western Union, MoneyGram, Remitly and WorldRemit. There’s also Wise of course - which is one of the few providers to use the mid-market exchange rate with no markup for all of its transfers.

Comparing Wise with banks for international wire transfers

Wise can send or receive certain currencies via SWIFT payment. However, unlike banks, Wise doesn’t rely solely on the SWIFT network to send international transfers. Instead, it built its own payment network, sending money via local bank accounts in each country.

This can make it quicker and easier to send international transfers in some instances.

It can also be cheaper too - while Wise does have fees which can vary depending on your currency route, the fees are upfront and it doesn’t add any margin to the exchange rate. This often makes it a cheaper option compared to banks and other providers, especially for large transfers.

In fact, according to Wise’s latest Mission Update from April-June 2025, Wise is 25% cheaper to use than it was 5 years ago and the average fee is now 0.54%.⁶

Note: The price provided is a global average based on a fixed basket of representative currencies as of Q2 2025 and may not reflect specific prices for consumers in their regions. Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing information.

Learn more about Wise, banks and currency exchange in our video below:

Other money transfer services in the UK

Along with the providers we’ve mentioned already, you can also send money overseas with:

• PayPal
• Revolut
• OFX
• TorFX
• XE
• Currencies Direct
• Xoom
• Ria Money Transfer.

Is it safe to send money with an international wire transfer?

Yes, it’s safe to send international wire transfers as long as you use a bank or a credible, well-known and regulated provider.

Look for one like Wise. Wise is strictly regulated and uses the latest security and anti-fraud measures to keep your money safe.

Are there any other regulations to be aware of?

As a sender or recipient of an international transfer, there aren’t any particular regulations you need to follow.

The only thing you might need to be aware of is that banks may flag up any potentially fraudulent transactions to the Financial Conduct Authority and/or HMRC.

This may happen with particularly large transfers, a large number of smaller transfers happening within a short timeframe or another reason. This may delay your transfer if the authorities need to investigate.

Sending large amounts internationally

If you’re sending a large sum from the UK to a foreign bank account, you need to be confident it’ll arrive safely - and that it won’t cost you a fortune in fees.

The good news is that Wise offers a dedicated large transfer service, with a special team on hand to facilitate these payments quickly and safely. There are even discounts on fees for large amounts.

To find out more or set up a payment, you can contact the Wise large transfers team by email, or request a callback.

Ask for a call back 📱

Learn more about transferring large sums of money with Wise in our video below:

Sources used for this article:

1. Wise - exchange rate comparisons
2. Barclays - international payments
3. NatWest - international payments
4. Santander - international payments
5. Lloyds Bank - international payments
6. Wise - Mission Update Q2 2025

All Wise speed claims depend on individual circumstances and may not be available for all transactions, see our latest speed update here.

Sources last checked on 12-Aug-2025