Want to move your money from Wells Fargo to another bank? You've come to the right place! This comprehensive guide will walk you through all the different ways to transfer funds, whether it's for a quick payment to a friend or a larger sum for a new account. Let's get started!
Understanding Your Transfer Options
Wells Fargo offers several convenient methods for transferring money to other banks. The best option for you will depend on factors like:
- How quickly you need the money to arrive.
- The amount of money you're transferring.
- Whether the transfer is domestic or international.
- The fees you're willing to pay.
We'll cover the most common and effective methods in detail.
Step 1: Prepare for Your Transfer - What You'll Need
Before you initiate any transfer, it's crucial to gather the necessary information for the recipient bank account. This ensures a smooth and successful transaction.
Sub-heading: Essential Information for Domestic Transfers
For transfers within the United States, you'll generally need:
- Recipient's Full Name: The exact name as it appears on their bank account.
- Recipient's Bank Name: The full legal name of the bank.
- Recipient's Account Number: The specific account number where the funds will be deposited.
- Recipient's Bank Routing Number: This is a nine-digit code that identifies the financial institution. You can usually find this on a check or by contacting the recipient's bank.
Sub-heading: Additional Information for International Transfers (Wire Transfers or ExpressSend)
International transfers require more detailed information due to varying banking regulations across countries. You'll typically need:
- All of the above domestic transfer information.
- Recipient's Full Address: Including street, city, state/province, and country.
- Recipient's Bank Address: The full address of the recipient's bank branch.
- SWIFT/BIC Code: The Society for Worldwide Interbank Financial Telecommunication (SWIFT) code, also known as Bank Identifier Code (BIC), is an international code
that identifies banks worldwide. - IBAN (International Bank Account Number): Required for many European countries and some other regions. This is a standardized international numbering system for bank accounts.
- Purpose of Payment: Some international transfers require you to specify the reason for the transfer (e.g., family support, gift, payment for goods).
Remember to double-check all information before initiating the transfer. Even a minor error can cause significant delays or even lead to the funds being sent to the wrong account.
Step 2: Choose Your Transfer Method and Follow the Steps
Wells Fargo offers several avenues for sending money. Let's explore each one.
Method 1: Online Bank-to-Bank Transfer (ACH Transfer)
This is one of the most common and cost-effective ways to transfer money between your Wells Fargo account and another U.S. bank account. These are also known as ACH (Automated Clearing House) transfers.
Sub-heading: Linking External Accounts
If you haven't transferred to this external account before, you'll need to link it first.
- Log in to Wells Fargo Online: Visit wellsfargo.com and sign in to your account.
- Navigate to "Transfer & Pay": Look for a tab or menu option usually labeled "Transfers," "Transfer & Pay," or "Send Money."
- Select "Add Non-Wells Fargo Accounts": This option allows you to connect an external bank account.
- Enter Account Details: You'll be prompted to enter the external bank's routing number and the recipient's account number.
- Verification Process: Wells Fargo will typically use a small deposit verification process. They will send two small, random deposits (usually a few cents) to the external account. You'll need to check the external account's statement (online or physical) for these amounts and then return to Wells Fargo Online to confirm them. This usually takes 1-3 business days.
- Account Linked: Once verified, the external account will be linked and ready for transfers.
Sub-heading: Initiating an Online Bank-to-Bank Transfer
- Log in to Wells Fargo Online: Sign in to your account.
- Go to "Transfer & Pay": Select the "Transfers" or "Transfer & Pay" section.
- Select "Between My Accounts" or "External Transfers": Choose the option to transfer funds between your Wells Fargo account and a non-Wells Fargo account.
- Choose Accounts: Select your Wells Fargo account as the "From" account and the linked external bank account as the "To" account.
- Enter Amount and Frequency: Input the amount you wish to transfer. You can typically choose between a one-time transfer or set up recurring transfers. For a future-dated transfer, you can select the desired date using the calendar icon.
- Add Optional Memo: You can add a memo for your records, which will appear on your transaction history and bank statement.
- Review and Confirm: Carefully review all the details of your transfer on the "Review and Transfer" page. Ensure the amount, recipient account, and date are all correct.
- Submit: If everything looks good, click "Submit" to complete the transfer.
- Transfer Time: ACH transfers typically take 1-3 business days for the funds to arrive in the recipient's account.
- Fees: Wells Fargo generally does not charge a fee for standard online bank-to-bank transfers. However, some banks may charge a fee for incoming ACH transfers, so it's wise to check with the recipient's bank.
- Limits: Daily and monthly limits for ACH transfers vary by account type. Wells Fargo's general daily limit for ACH transfers is around $5,000. You can often request higher limits by visiting a branch.
Method 2: Wire Transfer
Wire transfers are ideal for larger sums of money, time-sensitive payments, and international transfers. They offer faster delivery compared to ACH transfers but usually come with higher fees.
Sub-heading: Initiating a Wire Transfer Online or via Mobile App
- Log in to Wells Fargo Online or Mobile App: Access your account.
- Navigate to "Transfer & Pay": Look for "Wire Money" or "Send Money" under the Transfers tab.
- Select Wire Transfer: Choose the option to send a wire transfer.
- Enter Recipient Details: Provide all the necessary information for the recipient, including their full name, address, bank name, bank address, account number, and for international wires, the SWIFT/BIC code and IBAN (if applicable).
- Enter Amount and Currency: Specify the amount you wish to send and the currency (for international transfers).
- Review and Confirm: Carefully verify all the details. Missing or incorrect information can lead to delays or rejection.
- Authorize Transaction: Wells Fargo employs multi-layered security protocols, which may require identity verification through security questions or authorization codes.
- Submit: Confirm the transaction.
Sub-heading: Initiating a Wire Transfer In-Branch
For very large amounts, first-time international wires, or if you prefer in-person assistance, visiting a Wells Fargo branch is a good option.
- Gather Required Documents: Bring a valid government-issued ID, your Wells Fargo account details, and all the recipient's bank information (as listed above).
- Visit a Wells Fargo Branch: Speak with a banker.
- Complete Wire Transfer Form: The banker will assist you in filling out the wire transfer form.
- Verify and Authorize: Review the details carefully and authorize the transaction.
- Transfer Time:
- Domestic Wires: Often processed on the same business day if initiated before the cut-off time (typically 3:00 PM PST).
- International Wires: Typically completed within 1-5 business days, depending on the destination country and intermediary banks.
- Fees:
- Domestic Outgoing Wire: Fees vary, but typically range from $15-$30.
- International Outgoing Wire: Wells Fargo charges around $25 for digital international wires and $40 for in-branch international wires. There may also be foreign exchange markups and third-party fees.
- Limits: Daily limits for online wire transfers typically vary, but can be around $5,000. Monthly limits might be $12,500. In-branch wire transfers generally have higher limits, subject to verification.
Method 3: Zelle®
Zelle® is a fast, free, and convenient way to send money to friends, family, and others you trust directly from your Wells Fargo online banking or mobile app, if they are enrolled with Zelle® through their bank.
Sub-heading: How to Send Money with Zelle®
- Log in to Wells Fargo Online or Mobile App: Sign in to your account.
- Navigate to "Send Money with Zelle®": Look for the Zelle® option within the "Transfer & Pay" section.
- Enroll in Zelle® (if not already): You'll need to enroll your U.S. mobile number or email address.
- Add Recipient: Enter the recipient's U.S. mobile number or email address. Ensure they are also enrolled with Zelle® at their bank.
- Enter Amount: Input the amount you wish to send.
- Review and Send: Confirm the details and send the money.
- Transfer Time: Transactions between enrolled users typically occur in minutes.
- Fees: Wells Fargo generally does not charge a fee for using Zelle®.
- Limits: Zelle® has daily and monthly sending limits, which can vary. Wells Fargo's Express Send service, which can be linked to Zelle, typically has a minimum daily send amount of $25 and a maximum daily amount of $5,000, with a $12,500 limit in a 30-day period.
Method 4: Wells Fargo ExpressSend® Service (for International Remittances)
ExpressSend is a specialized service for sending money to family and friends in specific countries, offering competitive rates and low fees. It's designed for recurring remittances to a limited number of countries.
Sub-heading: Enrolling and Using ExpressSend
- Enroll in Person or by Phone (First Time): The initial setup for an ExpressSend agreement typically requires a visit to a Wells Fargo branch or calling their Phone Bank. You'll provide beneficiary information and choose how they'll receive the money (cash pick-up or deposit to their bank account).
- Send Subsequent Transfers: Once enrolled, you can send additional remittances through Wells Fargo Online (desktop or laptop only, not mobile app), the Wells Fargo Phone Bank, or in a branch.
- Select Beneficiary and Amount: Choose the established beneficiary and the amount to send.
- Confirm and Send: Review the details and confirm the transfer.
- Transfer Time: Varies by country and receiving method. Bank deposits can take up to 5 business days for initial setup, but subsequent transfers may be faster. Cash pick-up can be very quick.
- Fees: There are no enrollment or monthly maintenance fees. A low transaction fee is charged for each transfer, which varies by country. Wells Fargo also makes money on the currency exchange rate, which includes a markup.
- Limits: Aggregate daily transfer amounts vary by country and remittance network member. The minimum send amount is $25.
Step 3: Confirming Your Transfer
After initiating a transfer, it's always a good idea to confirm its status.
- Check Your Wells Fargo Transaction History: Most transfers will appear as "pending" initially and then move to "completed" once processed.
- Monitor the Recipient Account: If you have access to the recipient's account or can communicate with them, have them confirm receipt of the funds.
- Save Confirmation Numbers: For wire transfers, you'll receive a confirmation number. Keep this for your records in case of any issues.
Final Tips for a Smooth Transfer
- Verify Details Diligently: This cannot be stressed enough. Incorrect account numbers, routing numbers, or SWIFT codes are the most common reasons for delayed or failed transfers.
- Be Aware of Cut-off Times: Transfers initiated after a bank's daily cut-off time will typically be processed on the next business day.
- Understand Fees: Familiarize yourself with all potential fees, including Wells Fargo's fees, intermediary bank fees (for wires), and any fees charged by the recipient's bank.
- Consider Transfer Limits: Be aware of the daily, weekly, or monthly limits for each transfer method. If you need to send a large sum, plan accordingly or contact Wells Fargo to inquire about raising limits.
- Security: Always ensure you are on the official Wells Fargo website or using their legitimate mobile app when initiating transfers. Be wary of phishing attempts.
- Customer Support: If you encounter any issues or have questions, don't hesitate to contact Wells Fargo customer support.
10 Related FAQ Questions
How to transfer money from Wells Fargo to another bank online?
You can transfer money online by logging into Wells Fargo Online, navigating to "Transfer & Pay," linking the external account (if not already linked), and then initiating an external transfer.
How to send money from Wells Fargo to another bank using Zelle?
Log in to your Wells Fargo app or online banking, find the "Send Money with Zelle" option, enroll if needed, then enter the recipient's enrolled U.S. mobile number or email and the amount.
How to link an external bank account to Wells Fargo for transfers?
Log in to Wells Fargo Online, go to "Transfer & Pay," select "Add Non-Wells Fargo Accounts," enter the external account's routing and account numbers, and complete the small deposit verification process.
How to find the routing number for a Wells Fargo transfer?
Your Wells Fargo routing number can be found on your checks (the first nine digits at the bottom left) or by logging into your Wells Fargo Online account and viewing your account details.
How to check the status of a money transfer from Wells Fargo?
You can check the status of your transfer by logging into Wells Fargo Online or the mobile app and reviewing your transaction history under the "Transfer & Pay" section.
How to cancel a money transfer from Wells Fargo?
For ACH transfers, you might be able to cancel it if it's still pending. For wire transfers, cancellation is usually only possible within a very short window after submission. Contact Wells Fargo customer service immediately for assistance.
How to send a large amount of money from Wells Fargo to another bank?
For large amounts, wire transfers are generally recommended. You can initiate these online, via the mobile app, or by visiting a Wells Fargo branch, where higher limits may be available.
How to transfer money internationally from Wells Fargo?
You can use Wells Fargo Digital Wires for international wire transfers or the Wells Fargo ExpressSend Service for remittances to specific countries, both accessible through online banking or in-branch.
How to avoid fees when transferring money from Wells Fargo to another bank?
Standard online bank-to-bank (ACH) transfers and Zelle transfers are generally free. Wire transfers, especially international ones, typically incur fees.
How to initiate a recurring transfer from Wells Fargo to another bank?
When setting up an online bank-to-bank transfer, you'll usually have the option to select "Recurring" for the frequency, allowing you to set up automatic transfers at regular intervals.
