Moving money between banks is a common financial activity, whether you're paying a friend, transferring funds to a different account you own, or sending money for a larger purchase. Wells Fargo, like most major banks, offers several convenient methods to transfer money to another bank. Let's break down the options and walk through them step-by-step!
Your Guide to Transferring Money from Wells Fargo to Another Bank
Ready to move some money? Let's get started!
Step 1: Understand Your Options – What's the Best Fit for Your Transfer?
Before you dive in, it's crucial to understand the different ways you can transfer money. Each method has its own advantages, speed, fees, and limits. Knowing these will help you choose the option that best suits your needs. Think about:
- How quickly does the money need to arrive?
- How much money are you sending?
- Is the recipient within the U.S. or internationally?
- Are you sending money to yourself at another bank or to someone else?
Wells Fargo typically offers these primary methods for external transfers:
- Online Bank-to-Bank Transfers (ACH Transfers): This is often the most common and cost-effective way to move money between your own accounts at different U.S. banks.
- Zelle®: Ideal for sending money quickly to friends, family, or small businesses within the U.S. if they are also enrolled with Zelle through their bank.
- Wire Transfers: Best for large sums of money, urgent transfers, or international transfers. They come with higher fees but offer faster processing and global reach.
- ExpressSend®: A dedicated international remittance service for sending money to specific countries.
Let's explore each of these in detail.
Step 2: Choosing Your Transfer Method
Here's a breakdown of each method with step-by-step instructions:
Option 1: Online Bank-to-Bank Transfers (ACH - Automated Clearing House)
This is a great option for transferring money between your own Wells Fargo account and an account you hold at another U.S. financial institution. It's generally free or has very low fees, but takes a few business days.
Sub-heading: What You'll Need:
- Your Wells Fargo Online® login credentials.
- The account number of your external bank account.
- The routing number of your external bank.
Sub-heading: Step-by-Step Guide for Online Bank-to-Bank Transfers:
- Sign On: Go to the Wells Fargo website (wellsfargo.com) and sign on to your Wells Fargo Online® account.
- Navigate to Transfers: Once logged in, look for a section like "Transfer & Pay" or "Transfers."
- Add Non-Wells Fargo Account (First Time Only): If you haven't linked your external account before, you'll need to do this.
- Look for an option like "Add Non-Wells Fargo Accounts."
- You'll typically be asked to provide the account number and routing number of the external bank account.
- Security Verification: Wells Fargo will usually initiate small "micro-deposits" (e.g., two small amounts like $0.15 and $0.23) to your external account within 1-3 business days. You'll need to verify these amounts back on the Wells Fargo website to confirm ownership. This is a crucial security step.
- Important Note: Until this verification is complete, you might only be able to use your non-Wells Fargo account for payments to eligible Wells Fargo credit accounts.
- Initiate Transfer: Once your external account is linked and verified:
- Select the Wells Fargo account you want to transfer money from.
- Select the newly linked external account you want to transfer money to.
- Enter the amount you wish to transfer.
- Choose the frequency (e.g., "Once" for a single transfer, or set up recurring transfers).
- Select the date you want the transfer to occur.
- (Optional) Add a memo for your records.
- Review and Submit: Carefully review all the details on the confirmation page. Double-check the account numbers and amounts! If everything looks correct, click "Submit."
Sub-heading: Processing Time and Fees for ACH Transfers:
- Processing Time: Transfers typically take 1-3 business days to complete after the "Send On" date.
- Fees: Generally, Wells Fargo does not charge a fee for standard online bank-to-bank transfers between your own accounts. However, the receiving bank might have its own fees, so it's always good to check with them.
Option 2: Zelle®
Zelle is an excellent choice for sending money quickly to people you know and trust within the U.S. if their bank also offers Zelle. The money typically moves in minutes.
Sub-heading: What You'll Need:
- Your Wells Fargo Online® login credentials.
- The recipient's U.S. mobile phone number or email address (enrolled with Zelle through their bank).
Sub-heading: Step-by-Step Guide for Zelle:
- Sign On: Log in to your Wells Fargo Online® account via the website or the Wells Fargo Mobile® app.
- Access Zelle: On the desktop, select "Transfer & Pay," then "Send Money with Zelle®." On the mobile app, it's typically "Pay & Transfer," then "Zelle®."
- Enroll (First Time Only): If you haven't used Zelle before, you'll need to enroll your email address or U.S. mobile number and select the Wells Fargo account from which you want to send money. You'll also need to accept the Zelle® Transfer Service Addendum.
- Send Money:
- Select "Send."
- Choose an existing recipient or add a new recipient by entering their U.S. mobile number or email address.
- Enter the amount you want to send.
- Select the Wells Fargo account you want to fund the payment from.
- (Optional) Add a memo.
- Review and Send: Carefully review the details. Zelle payments are generally irreversible! If the recipient is already enrolled, their name (or at least their first name) may appear. If correct, confirm and send.
- Recipient Notification: Your recipient will be notified via email or text message with details on how to receive the money if they aren't already enrolled.
Sub-heading: Processing Time and Fees for Zelle:
- Processing Time: Transactions between enrolled users typically occur in minutes. If the recipient isn't enrolled, they'll receive a notification and have a certain period (usually 14 days) to enroll to claim the funds.
- Fees: Wells Fargo does not charge a fee to send or receive money with Zelle®. However, your mobile carrier's message and data rates may apply.
Option 3: Wire Transfers
Wire transfers are useful for sending larger amounts of money, making time-sensitive payments, or sending funds internationally. They are processed very quickly but typically incur higher fees.
Sub-heading: What You'll Need:
- Your Wells Fargo Online® login credentials (for digital wires) or a visit to a Wells Fargo branch.
- For Domestic Wires:
- Recipient's full name and address.
- Recipient's bank name and address.
- Recipient's account number.
- Recipient bank's routing number (ABA number).
- For International Wires:
- Recipient's full name and address.
- Recipient's bank name and address.
- Recipient's account number.
- Recipient bank's SWIFT/BIC code.
- For some countries, an IBAN (International Bank Account Number) or CLABE (for Mexico) might be required.
- The currency you wish to send.
Sub-heading: Step-by-Step Guide for Wire Transfers:
- Decide on Digital or Branch: You can initiate domestic and international wire transfers online via Wells Fargo Digital Wires (subject to eligibility and limits), or by visiting a Wells Fargo branch. For higher limits or complex international transfers, a branch visit might be necessary.
- Sign On (for Digital Wires): Log in to your Wells Fargo Online® account. Look for "Transfer & Pay" and then "Wires."
- Select Wire Type: Choose whether you're sending a domestic or international wire.
- Enter Recipient and Bank Information: Carefully input all the required beneficiary and bank details. Accuracy is paramount here; incorrect information can lead to delays, rejection, and additional fees.
- Enter Amount and Currency: Specify the amount and the currency of the transfer.
- Review and Authorize: Review all the details thoroughly. You'll see the applicable fees before you confirm. Authorize the transfer. For digital wires, there might be additional security steps. For branch wires, you'll sign forms.
Sub-heading: Processing Time and Fees for Wire Transfers:
- Processing Time:
- Domestic Wires: Often processed same day if initiated before the cutoff time (e.g., 3:00 PM Pacific Time for domestic wires).
- International Wires: Typically completed within 1-5 business days, depending on the country and recipient bank. Cutoff time is often earlier (e.g., 2:20 PM Pacific Time).
- Fees (as of current information):
- Outgoing Digital Wires: $25 (domestic and international in USD).
- Outgoing Branch Wires: $40 (domestic and international).
- International wires sent in foreign currency via digital channels: $0 fee from Wells Fargo, but the exchange rate will include a markup, and intermediary banks may still charge fees.
- Incoming Wires: No fee for consumer and non-analyzed business accounts; $15 for analyzed business accounts.
- Note: Fees can change, and intermediary banks may also levy charges, especially for international transfers. Always confirm the latest fee schedule with Wells Fargo.
Option 4: ExpressSend® Service (for specific international remittances)
Wells Fargo's ExpressSend is a specialized service for sending money to family and friends in specific countries, often with competitive fees and exchange rates for remittances.
Sub-heading: What You'll Need:
- An eligible Wells Fargo checking or savings account.
- Recipient's full name, address, and telephone number.
- Details of the Remittance Network Member (the specific institution where the money will be picked up or deposited).
- For account deposits, the recipient's qualifying deposit account number.
Sub-heading: Step-by-Step Guide for ExpressSend:
- Enrollment (First Time Only): The first remittance under each ExpressSend service agreement typically must be completed in person at a Wells Fargo branch. Some existing customers might be able to enroll via phone bank, subject to authentication.
- Provide Beneficiary Information: At enrollment, you'll provide all the details for your beneficiary and how they will receive the money (cash pick-up or direct to account).
- Initiate Transfer: Subsequent transfers can often be made through Wells Fargo Online® (desktop only, not mobile app for ExpressSend), Wells Fargo Phone Bank, or at a branch.
- Select your ExpressSend agreement.
- Enter the amount to send.
- Confirm the beneficiary and receiving method.
- Review and Send: Review the fees and exchange rate. Confirm the transaction.
Sub-heading: Processing Time and Fees for ExpressSend:
- Processing Time: Money can be available as soon as the same business day for many payout locations. Account deposits may take up to 5 business days for initial validation of beneficiary account info.
- Fees: Fees vary by country and amount. For example, sending to India might be $3, to Mexico $6, to Vietnam $12. Wells Fargo also makes money on the currency exchange rate. Always check the ExpressSend Cost Estimator or speak to a banker for current fees.
- Limits: ExpressSend has daily and periodic transfer limits, which vary by country and Remittance Network Member.
Step 3: Confirming Your Transfer
Regardless of the method you choose, it's always a good idea to confirm your transfer:
- Check Your Wells Fargo Account Activity: After submitting a transfer, check your Wells Fargo account activity online or in the mobile app. You should see a "pending" or "processed" transaction.
- Notify the Recipient (for Zelle/Wires): If you've sent money to someone else via Zelle or Wire, it's a good practice to let them know the transfer has been initiated and when they can expect the funds.
- Monitor the Receiving Account: For bank-to-bank transfers, keep an eye on the receiving bank account to ensure the funds arrive as expected.
10 Related FAQ Questions
How to check the status of my Wells Fargo transfer?
You can check the status of your transfers by logging into Wells Fargo Online® and navigating to the "Transfer & Pay" or "Transfers" section. There, you'll usually find a "Transfer and Payment Activity" or "Scheduled Transfers & Payments" area where you can view ongoing and past transactions.
How to cancel a Wells Fargo money transfer?
The ability to cancel depends on the transfer type and its status. Zelle transfers are generally irreversible once sent to an enrolled recipient. For ACH transfers, you might be able to cancel if it's still pending and hasn't begun processing. Wire transfers are very difficult to cancel once initiated. For ExpressSend, you have a 30-minute window to cancel, unless the money has already been picked up or deposited. The quickest way to attempt cancellation for ExpressSend is by calling their customer service.
How to increase my Wells Fargo transfer limits?
Transfer limits vary by method (Zelle, ACH, Wire) and your account history. For digital wires, you may need to visit a Wells Fargo branch to request higher limits. For Zelle, limits are typically set for security and may adjust based on your sending history and account type. There isn't a direct way for users to manually increase Zelle limits.
How to transfer money from Wells Fargo to an international bank account?
You can use Wells Fargo Digital Wires for international transfers, or visit a branch for assistance. Alternatively, if the destination country is covered, Wells Fargo's ExpressSend® service might be an economical option for remittances. You'll need the recipient's bank name, address, account number, and SWIFT/BIC code, and potentially an IBAN or CLABE.
How to add an external account to Wells Fargo for transfers?
Log in to Wells Fargo Online®, go to "Transfer & Pay" or "Transfers," and look for "Add Non-Wells Fargo Accounts." You'll need to provide the external account's routing number and account number. Wells Fargo will then send small micro-deposits to that account for verification, which you'll need to confirm back on the Wells Fargo website.
How to send money to someone without their bank account number using Wells Fargo?
You can use Zelle® if they are enrolled with Zelle through their U.S. bank, using only their U.S. mobile number or email address. For international transfers to specific countries, ExpressSend® may allow cash pickup options, meaning you don't need the recipient's bank account number, only their name matching their government ID.
How to find my Wells Fargo routing number?
Your Wells Fargo routing number can typically be found on your checks (the first nine digits at the bottom left), by logging into Wells Fargo Online® and viewing your account details, or by calling Wells Fargo customer service.
How to avoid fees when transferring money from Wells Fargo to another bank?
For transfers to your own external accounts, using Wells Fargo's standard online bank-to-bank (ACH) transfer is generally free. For quick transfers to others within the U.S., Zelle® is also free through Wells Fargo. Wire transfers always incur fees, though some eligible account types might have fee waivers for outgoing digital wires (e.g., consumer international wires in foreign currency).
How to send a large sum of money from Wells Fargo?
For large sums, a wire transfer is the most appropriate method. You can initiate digital wires online, but for very high amounts exceeding digital limits, you will need to visit a Wells Fargo branch to complete the wire transfer. Be prepared with all recipient and bank details.
How to receive money into my Wells Fargo account from another bank?
To receive money into your Wells Fargo account from another bank, the sender will need your Wells Fargo account number and your Wells Fargo routing number. They can then initiate an ACH transfer or a wire transfer from their bank to your Wells Fargo account. There are no fees for consumers to receive incoming wires at Wells Fargo.
