How to Wire Money From Chase? A Complete Step-By-Step Guide

Last Updated on July, 2024

Chase Bank is the number 1 ranked bank in the US. It provides various services and operates in more than 100 countries around the world.

When it comes to wire transfers, Chase Bank is a very popular and trusted option that many clients opt for. 

Chase wire transfers are only available for their account holders. Suppose you are a Chase Bank customer and need to make a payment; you can try the wire transfers. 

When you reach the end of this article, you will know everything about wire transfers with Chase Bank. Along with this, we have also provided you with cheaper and more effective alternatives. Read along to find out! 

So, how can you wire money with Chase Bank? Coming right away!

Quick Summary

Chase Bank is a popular and trusted option for wire transfers, but only for their account holders.

There are various fees and charges associated with wire transfers through Chase Bank, and these fees can add up significantly.

There are alternative options, such as specialized wire transfer service providers such as Wise and OFX, that offer lower fees and quicker delivery times.

Information Needed to Wire Money With Chase Bank

an image of a Chase bank

Not all Chase Bank account holders can send wire transfers. Accounts types like ‘Chase Secure Checking’ and accounts for children like ‘Chase First Checking’ are not eligible to wire money. You can contact the bank to know if your Chase Bank account type is eligible to wire money.

Once you confirm your eligibility, you will need to provide information about the payment and the recipient.

For a domestic transfer, you will need the following:

  • Your valid government-issued photo ID or driver’s license
  • Your full name and contact information
  • Your bank account and transit number
  • Full name and contact information of Recipient
  • The bank account number and transit number of the Recipient
  • ABA routing number of Recipient
  • Payment details and the date the transaction needs to be processed

You will need the following information for an international transfer besides the above information:

  • SWIFT/BIC code of Recipient
  • Information of intermediary bank (if available)
  • Reason for payment

For more details: check this.

How to Wire Money With Chase Bank?

You can make wire transfers with Chase Bank online, through the phone, or by visiting their nearest branch. The easiest and quickest way to initiate wire transfers is online, through online banking. 

Online

  • Log in/Sign in to Chase online banking
  • Enroll in wire transfers
  • Before sending a wire transfer, you need to first enroll in wire transfers. You can do this by selecting: Pay & Transfer >> Wires & global transfers >> Get started >> Next.
  • Then, there will be a verification. You will need to have your phone nearby for verification. 
  • You can then read the terms and conditions and click on Activate.
  • Add Recipient
  • To do this, you need to click on Add a recipient
  • You must then enter the code sent to your mobile phone for verification. 
  • Then click on Next and enter all the Recipient’s details required. 
  • Once you complete this, tap on Next and then Add Recipient.
  • Provide the required information and make the payment
  • To make a payment, select Pay & Transfer and then Wires & Global Transfers
  • When making a domestic payment, you must choose the Recipient from the recipient list and your funding account. 
  • Enter payment details like the amount and date of payment and click Next
  • Once you’ve rechecked everything, you can click on Schedule Wire and Close
  • Additional steps for international transfer
  • After selecting Wires & Global Transfers, tap the arrow to get the foreign exchange rate calculator.
  • Select whether you’re sending to an individual or business.
  • Choose the account funding your payment and the country to which you need to send the payment.
  • Enter your transfer amount in USD and click Send money.
  • Select Recipient from the recipient list and add the wire date.
  • Once you’ve rechecked everything, click Next and Schedule Wire.

Through the Phone

Chase Bank offers its clients the option to make wire transfers over the phone. But this can depend on your account type. You will have to go through your account’s terms and conditions and ensure your account type is eligible for doing wire transfers over the phone.

Branch

Any Chase Bank account holder will be able to make wire payments by visiting their nearest Chase Bank. A Chase Bank service team member will assist you through the entire process. Remember to have all required information regarding the Recipient and the payment when visiting the bank.

Chase Bank Wire Transfer Fee

Dices spelled Fee

The fees you will be charged for wire transfers with Chase Bank can vary depending on your account type. Wire fees are waived for account types like Chase Sapphire or Chase Premier Plus for incoming and outgoing wires. 

Certain account types allow you not to have to pay incoming fees. The fees charged for wire transfers from a standard Chase Bank account are shown next. 

Domestic Wire Transfer Fees

Type of TransferFee Charged
Outgoing online transfer$25
Outgoing transfer with Chase banker$35
Incoming transfer$15 (Fee will be waived if another Chase Bank account did the transfer)

*Fee charged as of 2024

International Wire Transfer Fees

Type of TransferFee Charged
Outgoing online transfer (in USD)$40
Outgoing online transfer (in foreign currency)If transfer amount is $5000 or more, fee is $0 If transfer amount is less that $5000, fee is $5
Outgoing transfer with Chase banker$50 (for any currency type)
Incoming transfer$15 (Fee is waived for transfers done by another Chase Bank account)

*Fee charged as of 2024

All wire transfers done in foreign currencies include exchange rate markups.

Learn more about Chase foreign transaction fees here.

Exchange Rates

You will know the applicable exchange rates once you arrange a wire transfer with Chase Bank. You will not be able to find these rates in Google search. This is because they set their own rates by calculating their retail exchange rate. This is known as markup. 

Typically, Chase Bank’s exchange rate markup is 3%. Seems small? When wiring significant amounts of money, it can mount up to be the highest expense.

Additional Fees

If you’re already flabbergasted with the fees you need to pay, it’s just not over yet!

The SWIFT network will be used to process your international wires. This means your payment will be transferred through several intermediary banks before reaching the recipient. 

All these intermediary banks will deduct an amount from your payment as a service charge, also known as a correspondent bank fee or agent bank fee. Guessing which intermediary banks will be involved is a tough job. But the point is, the amount that your recipient gets will be less than what you expect. 

Receiving Wired Money With Chase Bank

wire tranferring money through a mobile

You will be charged not only a fee for sending wire transfers but also for receiving wire transfers. You will be charged $15 for each transfer you receive. 

But if you are a premium account holder or if your payment is being transferred from another Chase Bank account number, this fee can be waived. 

When you are receiving money from a Chase Bank account, you will have to give your sender the following information:

  • Your name in your Chase account
  • Your account number
  • Your routing number

In addition, you will have to send additional information like your contact details and reason for payment. This depends on your sender’s bank.

When receiving money from an international wire transfer, along with the above information, you will have to provide the Chase SWIFT/BIC code. 

  • SWIFT code: CHASUS33XXX

Also, with the intermediary banks involved in your transfer charging from the payment, your sender will not be able to know exactly how much you will receive in USD.

Limits of Wire Transfers With Chase Bank

The maximum you can wire on a business day is $250,000

The wire cut-off time for Chase Bank is 4 pm EST. You must request wire transfers before the cut-off time for your transfer to be processed on the same day. If your request is down after this cut-off time, you must wait for the next business day to process your transfer.

What is the Duration of a Wire Transfer With Chase Bank?

Chase Bank often processes domestic transfers within 24 hours. The recipient will be able to receive the funds within 1 – 2 business days.

An international wire transfer can take 1 – 5 business days to reach the recipient. 

However, the delivery time of your transfer depends on several factors.

This includes predefined cut-off times, federal regulations, weekends, and bank holidays. 

The cut-off time of credit unions and wire transfer services can also affect the duration of a transfer. For urgent transfers, confirm the cut-off times of the relevant parties. 

As a sender or receiver, contact the bank if you’re worried about delays in your transfer. They will help you trace your transfer and find updates on the processing time. 

wire tranferring money through a mobile

Alternatives for Chase Bank Wire Transfers

Now, with all the costs you incur and the time it has taken to deliver these transfers, I can already feel you are finding better alternatives. Well, we’ve got that covered, too! 

Compared to specialized banks, specialized international wire transfer service providers can make it easier for you to transfer funds. Opting for such service providers can help save you money and time! 

Of the many specialist service providers available, Wise, OFX, and Western Union are the best options.

They provide you with better exchange rates and lower fees:

  • Wise: Wise delivers over 50% of the transfers instantly to over 80 countries. Transfers are low in cost since they use the mid-market rate. Setting up and wiring funds can also be quickly done through their app. (Read more about Wise here.)
  • Western Union: It is among the world’s largest payment providers. With Western Union, you can send your payments to bank accounts, mobile wallets, and even for cash collection.
  • OFX: Payments can be made to over 50 countries with OFX. They also offer currency risk management services and a 24/7 support team. (Read more about OFX here.)

A comparison of wire transfers with Chase and specialist wire transfer service providers is done below.

ProviderDomestic Wire TransferInternational Wire Transfer
FeeFee Exchange Rate
Chase Bank$25 – $35$0 – $50 + exchange rate markupIncludes markup
Wise$4.15$9.03Mid market
OFXNot disclosed$10.15 + exchange rate markupIncludes markup
Western Union$20 – $35$35 – $50Varies depending on several factors

*Fee charged as of 2024

The exact cost of sending an international wire transfer depends on where you are making the payment. Even then, the specialist providers will offer a lower price and an overall better deal.

Personally, I would recommend Wise for its lower rates, as there is no exchange rate markup and only the mid-market rate. Most payments are made instantly as well. This means you save both time and money! 

Conclusion

And for a quick recap, Chase Bank is the most highly-rated bank, the 1st ranked in the US. They are well reputed and provide efficient services as well.

Their services include wire transfers. Even though certain Chase Bank account types can waive wire transfer fees, most standard account holders must pay for wire transfers.

These fees and charges can be hefty; ultimately, the recipient won’t get what you expect. So, as a better alternative, specialist wire transfer service providers like Wise and OFX can be used. They provide the same service for a cheaper price and much quicker delivery. Opting for such an option will be better.

FAQs

The Chase Bank SWIFT code is: CHASUS33XXX

The Chase Bank wire transfer limit is $250,000 per business day.

The Chase Bank wire cut-off time is 4:00 pm EST.

  • Your valid government-issued photo ID or driver’s license
  • Your full name and contact information
  • Your bank account and transit number
  • Full name and contact information of the recipient
  • The bank account number and transit number of the recipient
  • ABA routing number of the recipient
  • Payment details and the date the transaction needs to be processed

For international transfers, along with the mentioned information, you need the following:

  • SWIFT/BIC code of the recipient
  • Information of intermediary bank (if available)
  • Reason for payment

Domestic outgoing wire transfers at Chase Bank cost between $25 and $35, international outgoing transfers range from $0 to $50, and all incoming transfers are charged a $15 fee, which is waived if transferred from another Chase account.

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Allen Morning
I'm Allen Morning, with a background spanning over 15 years in international finance and education from Harvard and Stanford. I founded Currenciap with a vision to demystify and streamline global financial transactions. My journey in finance has fueled my commitment to creating a platform that is both user-friendly and efficient, making international finance accessible to everyone. You can find more about me here.

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