Unlock the Power of Global Transfers: Your Ultimate Guide to Wiring Money from Truist
Ever needed to send money quickly and securely, whether to a family member across the country or a business partner overseas? Wire transfers are often the answer, offering a reliable way to move funds directly from one bank account to another. If you bank with Truist, you're in the right place! This comprehensive guide will walk you through every step of wiring money from your Truist account, ensuring you're empowered to make these transactions with confidence.
So, are you ready to master the art of the wire transfer? Let's dive in!
Step 1: Understand What a Wire Transfer Is and Why It's Used
Before we get into the nitty-gritty, let's clarify what a wire transfer entails. A wire transfer is an electronic method of sending funds directly from one bank to another. Unlike checks or ACH transfers, which can take days to clear, wire transfers are known for their speed and security. Funds are typically available within hours for domestic transfers and a few business days for international ones.
Why would you use a wire transfer?
- Large Purchases: Buying a car, a house, or making a significant investment often requires a wire transfer due to the large sums involved.
- Urgent Payments: When time is of the essence, a wire transfer ensures funds reach the recipient quickly.
- International Transactions: Sending money across borders for family support, business, or education is a common use for international wire transfers.
- Security: Wire transfers are highly secure as they move funds directly between financial institutions, reducing the risk of fraud associated with other payment methods.
Step 2: Gather All Necessary Information for Your Recipient
This is arguably the most crucial step. Incorrect or incomplete information can lead to delays, fees, or even the return of your funds. Do not proceed until you have verified every detail with your recipient.
Sub-heading: Domestic Wire Transfers (Within the U.S.)
For sending money to another account within the United States, you'll need the following:
- Recipient's Full Legal Name: This must match the name on their bank account exactly.
- Recipient's Complete Street Address: Including street, city, state, and ZIP code.
- Recipient's Bank Name: The full legal name of their financial institution (e.g., "Wells Fargo Bank, N.A.").
- Recipient's Bank's ABA Routing Number: This is a nine-digit code that identifies the recipient's bank. Crucially, ensure you get the wire transfer routing number, as it can sometimes differ from the ACH routing number.
- Recipient's Account Number: The full account number where the funds will be deposited.
- Amount to be Wired: The exact dollar amount you wish to send.
- Purpose of the Wire (Optional but Recommended): A brief description (e.g., "Payment for services," "Gift," "Real estate closing").
Sub-heading: International Wire Transfers (Outside the U.S.)
Sending money internationally requires even more specific details due to different banking systems.
- Recipient's Full Legal Name: Again, exact match to their bank account.
- Recipient's Complete Street Address: Full address, including country.
- Recipient's Bank Name: The full legal name of their financial institution.
- Recipient's International Bank Account Number (IBAN): For many European countries, an IBAN is a standardized account number.
- Recipient's Bank's SWIFT/BIC Code: This is an 8 or 11-character code that identifies the recipient's bank globally (e.g., BRBTUS33 for Truist).
- Intermediary Bank Information (If Applicable): For some international transfers, an intermediary bank might be used to facilitate the transfer. Your recipient's bank can provide these details if needed, including the intermediary bank's name, SWIFT/BIC, and account number.
- Foreign Currency (If Applicable): Specify if the funds should be sent in a foreign currency or USD. Be aware of exchange rates and potential markups.
- Purpose of the Wire: This is often mandatory for international transfers and helps comply with international regulations.
- Amount to be Wired: The exact amount.
Pro Tip: Always ask your recipient to get this information directly from their bank to avoid errors. A screenshot or a copy of their bank's wire transfer instructions is ideal.
Step 3: Choose Your Method of Initiation
Truist offers a few convenient ways to initiate a wire transfer.
Sub-heading: Option A: Online Banking (Recommended for Convenience)
Truist's online banking platform is often the easiest and most efficient way to send a wire, especially for recurring transfers or if you prefer digital transactions.
- Enroll in Wire Transfer Services: If it's your first time, you'll likely need to enroll. Log in to your Truist Online Banking. Look for "Transfer & Pay" from the main menu, then select "Enroll in wire services." You'll need to verify your identity and set up authorization phone numbers.
- Add Your Recipient: Once enrolled, navigate back to "Transfer & Pay" and select "Send a wire transfer." Choose "Manage recipients." Here, you can add a new recipient, specifying whether they are domestic or international. Carefully input all the details gathered in Step 2.
- Initiate the Wire Transfer: Go to the "Send a wire" tab. Select the type of wire (Domestic or International) and then choose your recipient from the list you just created or added.
- Enter Transaction Details:
- "From" Account: Select the Truist account from which you want to send the money.
- Amount: Enter the exact amount.
- Frequency: Choose "One time" or set up recurring payments if needed.
- Optional Information: You may have fields to add a reason for the wire or a memo.
- Review and Authorize: Carefully review all the details of your wire transfer. This is your last chance to catch any errors. Truist will likely send a security code to one of your registered phone numbers for authorization. Enter this code to submit the transfer.
Sub-heading: Option B: Through the Truist Mobile App
The mobile app provides a similar streamlined experience for sending wires on the go.
- Tap "Transfer & Pay": From the menu bar in the Truist mobile app.
- Select "Send a wire transfer": This will take you to the wire transfer section.
- Manage Recipients: Just like online banking, you can tap "Recipients" to add, edit, or delete recipient information.
- Initiate Transfer: Follow the prompts to select your recipient, enter the amount, and provide any additional details.
- Review and Authorize: Double-check all information before authorizing the transfer with a security code.
Sub-heading: Option C: Visiting a Truist Branch
If you prefer in-person assistance or are sending a very large amount, visiting a branch is a viable option.
- Gather Your Information: Bring all the recipient details from Step 2 with you. It's helpful to have them written down clearly.
- Bring Photo ID: You'll need a valid government-issued photo ID (e.g., driver's license, passport).
- Know Your Account Details: Be prepared to provide your Truist account number and any other verification information they may request.
- Speak with a Specialist: A Truist representative will guide you through the process, inputting the information and confirming the details with you.
- Sign and Authorize: You will typically need to sign a form authorizing the wire transfer.
Sub-heading: Option D: Phone Banking (For Certain Situations)
While online and in-person are common, some situations might allow for phone initiation, especially if you have an established relationship with Truist and have pre-arranged wire services. Always confirm if this option is available for your specific needs by calling Truist customer service.
Step 4: Understand Fees and Limits
Wire transfers, while convenient, come with associated fees and sometimes limits. It's essential to be aware of these beforehand to avoid surprises.
Sub-heading: Wire Transfer Fees (As of current knowledge, subject to change)
- Outgoing Domestic Wire: Typically around $30.
- Incoming Domestic Wire: Often around $15.
- Outgoing International Wire: Generally higher, around $65.
- Incoming International Wire: Around $20.
Note on International Wires: Be aware that intermediary banks might also charge fees, which can reduce the amount the recipient receives. Additionally, Truist, like most banks, will apply an exchange rate markup when converting currencies, which is another cost to consider. For larger international transfers, comparing exchange rates from dedicated money transfer services like Wise (formerly TransferWise) or Instarem might save you money.
Sub-heading: Wire Transfer Limits
- Truist generally has a rolling 3 business day maximum of $500,000 for wire transfers through online banking.
- For online and mobile transfers, there might be a per-transaction limit (e.g., $5,000) and a daily limit (e.g., $10,000).
- For very large amounts exceeding online limits, you may need to visit a branch or contact Truist directly to discuss options. International wire transfer limits might vary and can be reviewed on a per-transfer basis.
Always confirm the most current fees and limits directly with Truist or by checking their official fee schedule.
Step 5: Be Mindful of Cut-Off Times
To ensure your wire transfer is processed on the same business day, you must submit it before Truist's daily cut-off time.
- Domestic Wire Transfers: The cut-off time is typically 6 PM Eastern Time (ET) on business days.
- International Wire Transfers: Cut-off times for international wires can vary but are generally earlier than domestic wires. It's best to confirm this directly with Truist when initiating your transfer.
If you submit a wire after the cut-off time, it will generally be processed on the next business day. Remember that weekends and federal holidays are not considered business days.
Step 6: Confirm and Track Your Transfer
Once your wire transfer is submitted, you'll want to confirm it's on its way and eventually received.
- Confirmation: Truist will provide a confirmation or reference number after you successfully initiate the wire. Keep this number safe! It's crucial for tracking or if you need to inquire about the transfer.
- Tracking: While direct, real-time tracking like package delivery isn't always available, you can generally inquire about the status of your wire transfer by contacting Truist customer service. For international SWIFT payments, a UETR (Unique End-to-End Transaction Reference) code can sometimes be used for tracking.
Step 7: What to Do if There's an Issue
Mistakes can happen, though they are less common with wire transfers due to the strict validation process.
- Incorrect Information: If you realize you've provided incorrect recipient details after initiating the wire, contact Truist immediately. They may be able to recall or amend the transfer, but it's not guaranteed, especially if the funds have already been credited to the recipient's bank. There may be fees associated with recalling a wire.
- Delays: If your wire transfer is taking longer than expected (e.g., more than 24 hours for domestic, or 5 business days for international), contact Truist customer service with your confirmation number. They can investigate the delay.
10 Related FAQ Questions
Here are some common questions about wiring money from Truist, with quick answers:
How to find my Truist routing number?
You can typically find your Truist routing number on the bottom left of your checks, within your online banking account details, on your bank statement, or by contacting Truist customer service at 844-4TRUIST (844-487-8478). The most common routing number for most Truist accounts is 061000104, though some legacy BB&T accounts may have state-specific routing numbers.
How to enroll in Truist wire transfer services online?
Log in to Truist Online Banking, navigate to "Transfer & Pay," and then select "Enroll in wire services." You will need to verify your identity and set up authorization phone numbers.
How to add an international recipient for a Truist wire transfer?
In Truist Online Banking or the mobile app, go to "Transfer & Pay," then "Send a wire transfer," and select "Manage recipients." Choose to add an "International recipient" and fill in all required details, including their SWIFT/BIC code and IBAN (if applicable).
How to check the status of a Truist wire transfer?
You can generally check the status by logging into your Truist Online Banking or mobile app, or by calling Truist customer service and providing your wire transfer confirmation or reference number.
How to cancel a Truist wire transfer?
Contact Truist customer service immediately if you need to cancel a wire transfer. Cancellation is often only possible if the funds have not yet been released by Truist or credited to the recipient's bank.
How to receive an incoming wire transfer to my Truist account?
To receive a wire transfer, you'll need to provide the sender with your full legal name, your Truist account number, Truist's wire routing number (061000104 for most accounts), and Truist's SWIFT/BIC code (BRBTUS33 for international wires if applicable).
How to know the fees for a Truist wire transfer?
Truist's wire transfer fees are typically $30 for outgoing domestic wires and $65 for outgoing international wires. Incoming domestic wires are around $15, and incoming international wires are around $20. Always confirm the most current fees on Truist's official website or by contacting them directly.
How to send a recurring wire transfer with Truist?
When initiating a wire transfer through online banking or the mobile app, select the "Recurring" option for frequency instead of "One time." You can then set up the schedule for the recurring payments.
How to find Truist's SWIFT/BIC code for international wires?
Truist's primary SWIFT/BIC code for international transfers is BRBTUS33. (Note: SNTRUS3A was historically used for SunTrust accounts and may still be seen, but BRBTUS33 is the current primary one.)
How to contact Truist customer service for wire transfer assistance?
You can reach Truist customer service for general account inquiries, including wire transfer assistance, by calling 844-4TRUIST (844-487-8478). For online and mobile banking support, call 888-228-6654.
