How to make a large wire transfer with Chase

1. Try sending the transfer online first

Start by logging into Chase's online banking or mobile app to see if you can process your wire transfer this way. For amounts below Chase's online limits, this is the fastest option.

You'll need to navigate to the wire transfer section and enter your transfer amount as well as other details. If the amount is too high, the system will tell you, and you'll need to follow the steps below.

2. Call your Chase branch

Before making a trip, call your local Chase branch to ask about their process for large wire transfers. The representative may be able to help you over the phone.

Or, they can also let you know when the staff member authorized to approve large transfers will be available, which can save you from making multiple visits.

Some branches may ask you to schedule an appointment for large transactions, especially if you're sending a Chase international wire transfer.

3. Gather supporting documents

Chase may want to see documentation that explains your transfer. This helps the bank verify that the transaction is legitimate and complies with federal banking regulations.

You can ask the bank representative about the exact documents you'll need to set up your wire, but it can be documents like:

• The purchase contract or sale agreement
• An invoice or bill
• Business contracts
• Proof of where your funds came from, such as bank statements or closing documents from asset sales

Gathering this paperwork adds extra steps to the process, but it protects both you and the bank from potential fraud.

4. Get the information you need for your transfer

You'll need the recipient's bank details to wire your money with Chase. The information you'll need depends on whether you're sending a domestic or an international wire transfer.

For domestic wire transfers, you'll typically need:

• Recipient's full name
• Recipient's address
• Recipient's bank account number
• Bank's routing number (also called ABA number)
• Bank name and address

For international wire transfers, the requirements are a bit more complex:

• Recipient's full name
• Recipient's address
• Recipient's bank account number or IBAN (International Bank Account Number)
• Bank's SWIFT code
• Bank name and address
• Any country-specific codes required (like a Transit Code for Canada)

Your recipient should share all this information with you, but things like the SWIFT code can also be looked up online.

5. Go to the branch

Visit your Chase branch with your documents and transfer information. A banking representative will review everything, verify your identity, and help you complete the wire transfer.

For very large amounts, the representative may need approval from a manager or to submit your transfer for additional review. This can take some time, so try to send money a couple of days early to avoid delays, especially if you're on a deadline.

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Chase large transfer fees and charges

Chase charges fees for wire transfers.

There are 2 main types of fees you'll pay: transfer fees, which are an expense you'll know up front, and currency exchange rate markups for international transfers, which usually aren't transparent and instead are worked into your transfer.²

Here's what you can expect:

The low fee for online international wires in foreign currency might look like a great deal, but there's a catch. Chase builds a markup into the exchange rate, which is how the bank profits from the transaction.

When you change your money from USD into a foreign currency like EUR, Chase determines their own exchange rate "in their sole discretion" and includes a spread, which is the difference between the mid-market rate and the rate they give you.²

As Chase states in their fee schedule, "these foreign exchange rates will be less favorable than rates quoted online or in publications."²

In other words, you'll lose money on them. On a large transfer, this markup can cost you far more than any wire fee because Chase makes money on every USD you convert into a foreign currency.

How long does it take to make a large transfer with Chase?

You can generally expect domestic wires to process within 24 hours. International wire transfers typically take 1 to 5 business days to arrive, depending on the destination country and other factors.³

For large transfers that require additional approvals, processing may take longer.

Is Chase safe for large transfers?

Yes, your large transfer is safe with Chase. It's a well-established financial institution with secure systems for wiring money both domestically and internationally.

In fact, having to come into the branch to send a large wire is mostly a safety requirement.

However, wire transfers are vulnerable to scams, and no bank can fully protect you if you unknowingly send money to a fraudster. Chase does security checks and may ask questions about your transfer, but ultimately, the decision to send the money is yours.

A scammer can pretend to be a trusted person or an organization, such as a real estate attorney or even a family member in an emergency. The instructions often look legitimate, sometimes even using a spoofed email address that looks like a real one.

These scams are becoming more sophisticated, so it's not always obvious when you're being scammed. If you have any concerns about the legitimacy of your transaction, you can ask the bank representative any questions or request to double-check the recipient information.

You can send a large wire transfer with Chase, but it's important to factor in the costs.

Chase's wire transfer fees range from 25 USD to 50 USD, depending on the type of transfer you're sending.²

For international transfers, the exchange rate markup is often more expensive than the fee, potentially costing you hundreds or thousands of USD on large amounts.

These costs add up quickly, so exploring alternatives makes a lot of sense.

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Sources

1. Chase - FAQs
2. Chase - Additional banking services and fees for personal accounts
3. Chase - How to wire money