How to Receive an International Wire Transfer and What to Expect

If you've never sent funds across borders before, you may be surprised by the list of new terms you need to learn: SWIFT codes, IBAN, FX risk, and a host of other foreign concepts. It can be jarring to start working with a new business partner and be expected to know everything about international transfers, so we've put together a guide explaining what to expect when receiving international wires — from the terminology, to the underlying infrastructure, to the best ways to optimize your setup.

There are a few things to tackle. We'll cover what you'll need to have set up in order to receive a money transfer from an individual or business partner. We'll also explain what it looks like to settle an invoice through your accounts receivable and compare alternative rails like IAT ACH and stablecoins to wires so you get a better sense of which option fits your situation.

If you're just getting started with international transfers, consider Slash: an all-in-one business banking platform that can send and receive wires via the SWIFT network to over 180 countries in 135+ currencies.¹ Slash supports the full range of global payment activities, from global ACH settlement to native on- and off-ramps for stablecoins like USDC and USDT.⁴ You can also collect payments from customers using embedded links in invoices sent from Slash, and the funds land directly in your account, where they're easy to track, manage, and reconcile from your dashboard. Continue reading to learn more.

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What is an international wire transfer?

An international wire transfer is a type of cross-border payment with two defining characteristics: it's processed through the global banking system, and each transaction is handled individually rather than in a batch.

Those two attributes are what set wires apart from other methods of sending money internationally. IAT ACH transfers, for instance, are also bank-based but move in batches, which makes them cheaper but slower. Crypto transfers happen individually like wires, but they settle on the blockchain instead of through banks. Wires sit at the intersection of bank infrastructure and one-at-a-time processing, which determines their general speed, cost, and reliability.

Most international wires are facilitated by the SWIFT network, a global interbank messaging system supported by over 11,000 banks and financial institutions. Not every bank worldwide follows the exact same internal processes, so SWIFT is how banks exchange standardized instructions for processing your money.

An important aspect to consider when sending wires is how they move through the payment chain. Because not all banks have direct relationships with one another, your payment may need to pass through several intermediaries (called correspondent banks) to reach its destination, depending on where you're sending it. Each correspondent bank along the way performs its own compliance checks and processing, which means they can deduct fees and add delays to the transfer before it arrives in the recipient's account.

This is why two wires of the same amount, sent on the same day, can arrive with different final amounts and on different timelines. The route matters as much as the rails. Understanding the payment chain helps explain why international wires sometimes feel unpredictable compared to domestic transfers, and why the information you provide upfront – accurate SWIFT/BIC codes, IBANs, and beneficiary details – affects how smoothly your wire moves through the system.

What information do you need to receive an international wire transfer?

International wire transfers require a few more details than sending money domestically. The list of details isn't long, but small mistakes in bank account information can delay your payment, trigger wire transfer fees, or cause the payment to be returned to the sender entirely. Getting the details right the first time is almost always faster than fixing them after the fact.

It's also worth noting that while the sender provides most of the payment details when initiating the wire, the recipient has to be set up to accept international wires in the first place. Not every business account is configured for cross-border payments by default, so it's worth confirming with your bank before sharing instructions with a counterparty.

The specific information your sender needs will vary based on the country and currency involved, the receiving bank's requirements, and the route the payment takes through the global banking system. That said, most international wires require some combination of the following:

Recipient name: The full legal name on the receiving account. This needs to match exactly what the bank has on file, since mismatches are one of the most common reasons wires get held up in compliance review. For individuals, that means using your legal name rather than a nickname; for businesses, the registered entity name rather than a DBA or shorthand.
Business name (if applicable): If the account belongs to a business, the sender will need the registered business name as it appears on the account. Some banks also ask for the business address, particularly for larger transfers or accounts in jurisdictions with stricter compliance rules.
Account number: The destination account number where the funds should land. In most of the world this has been replaced by the IBAN (see below), but for U.S. accounts and a handful of other regions, a standalone account number is still standard. You can find this on your bank statement or in your online banking dashboard.
Bank name and address.: The full name and physical address of the receiving bank, not just the branch you opened the account at. This is usually the headquarters address rather than a local branch. Your bank can provide this directly, and it's often listed on their website under wire transfer instructions.
SWIFT/BIC code: The unique identifier for your bank in the global SWIFT network, typically 8 or 11 characters long. The sender's bank uses this code to route the payment to the correct institution, so it's required for virtually every international wire. If you're not sure where to find yours, here's a primer on the SWIFT banking system and how these codes work.
IBAN (if applicable): The International Bank Account Number is a standardized format used across Europe, the Middle East, and parts of the Caribbean and Latin America. It combines a country code, check digits, and your account number into a single string that helps the receiving bank validate the destination before the payment is sent. For more on how IBANs are structured and which countries use them, see our guide to IBAN numbers.
Intermediary bank details (if required). The sender may need the name and SWIFT/BIC code of the intermediary bank as well. Your receiving bank can tell you whether intermediary details are required for a given currency or sending country, and they'll provide the relevant information.

A useful habit is to keep a single, up-to-date document with all of your receiving instructions in one place so you can share it with counterparties quickly. Just remember that the right combination of details depends on where the money is coming from and what currency it's being sent in, so check with your bank if you're setting up a new payment corridor for the first time.

How to receive an international wire transfer: Step-by-step

Once you know what details are required, actually receiving an international wire is a fairly straightforward process. The steps below walk through what happens on your end, from gathering your incoming wire instructions to confirming the funds have landed in your account:

Step 1: Request your incoming wire instructions

Before anything else, you'll need a complete set of incoming wire instructions from your bank. This is the document your sender will work from, so it needs to be accurate and current. Most banks make these instructions available in your online banking dashboard, but some require you to call or message a relationship manager to receive them, especially for business accounts. Just make sure that when you request your instructions, ask specifically for international wire instructions rather than domestic ones.

Step 2: Share your transfer details with the sender

Next, send the instructions you received to your counterparty through a channel you trust. Email is standard for most business transactions, but be aware that wire fraud often involves attackers intercepting or spoofing these messages to swap in their own banking details. If the wire is large or the relationship is new, it's worth confirming the details over a second channel, like a phone call to a known number, before the sender initiates the payment.

Step 3: Wait for the transfer to process

Once your sender initiates the wire, processing time depends on a handful of factors that are largely outside your control. International wires typically take one to five business days to arrive, but the actual timeline varies based on:

Banking hours and time zones. Wires only process during business hours in each country the payment touches. A wire sent late on a Friday from Asia may not begin processing in Europe or the U.S. until Monday, and any holiday in a country along the route can add another day or two.
Compliance checks. Every bank in the payment chain runs the wire through its own anti-money-laundering and sanctions screening. Most wires clear these checks automatically, but anything unusual about the sender, the recipient, the amount, or the purpose can trigger a manual review that adds hours or days.
Intermediary banks. If your wire passes through one or more correspondent banks on its way to your account, each one adds its own processing time. A wire that routes directly between two banks may settle within a day, while one that hops through three intermediaries can take a week.

If your wire is moving through the SWIFT system, you can use the SWIFT Basic Tracker tool to get a real-time update of where your wire is in the payment chain.

Step 4: Confirm the funds arrived

When the wire lands, you'll typically see it as a credit in your account, often with a reference to the sender or the originating bank. Before marking the transaction complete, check the amount carefully. The final figure that arrives in your account may be different from what the sender originally sent due to intermediary fees or FX conversion.

If the amount that arrives doesn't match what you were expecting, reconcile the difference against the fee schedule from your bank and the exchange rate that was applied. For ongoing relationships with international counterparties, it's worth having an upfront conversation about who covers fees and which currency the wire will be sent in, so both sides have clear expectations.

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Common international wire transfer issues and how to solve them

Most problems with international wires come from routing or verification issues that could have been caught upfront. Wires are designed to be reliable once they're moving, but the inputs have to be right, and the parties involved have to know what to expect. The sticking points below are the ones businesses run into most often, along with what you can do to avoid them:

Incorrect SWIFT/BIC or IBAN information

SWIFT/BIC codes are 8 or 11 characters and IBANs can be over 30. A single wrong digit is enough to send the wire to the wrong bank or bounce it back to the sender, so double and triple checking that these codes are correct is a good habit to get into. Some strategies for getting the details right:

Send your incoming wire instructions as a single document straight from your bank rather than retyping the details, and have your counterparty read them back or confirm them through a second channel before initiating the wire.
For recurring payments, save a verified set of instructions on both sides so neither party is re-entering the details for each transaction.

Missing intermediary bank details

If the sender's bank doesn't know which intermediary to use, or if your instructions don't include the right intermediary details, the wire can stall or be returned with a vague rejection reason.

This happens more often with smaller banks or in payment corridors that aren't heavily used. Larger international banks usually have well-established correspondent relationships and can route most wires automatically, but smaller institutions sometimes require the sender to specify the intermediary explicitly.

If your bank has flagged an intermediary as required for certain currencies, include those details in your standard wire instructions. If you're unsure, ask your bank directly when you request your instructions.

Hidden fees and exchange rate markups

A wire that arrives for less than expected is usually the result of intermediary fees and FX markups, not a mistake. Each correspondent bank can deduct a fee, and any currency conversion is typically priced with a margin over the mid-market rate.

These costs catch businesses off guard because they don't appear as a single line item; the difference between sent and received is spread across multiple banks and conversions. For a full breakdown, our guide to cross-border fees walks through where these costs come from.

Agree with your counterparty upfront on who covers fees (the SWIFT codes "OUR," "SHA," and "BEN" determine how charges are allocated), and confirm the sending currency. If you're receiving in a foreign currency, ask your bank what FX rate they apply so you can factor it into your invoicing.

Delayed or returned wire transfers

Returned wires can be particularly frustrating because the funds have to go back through the payment chain in reverse, which can add even more days to the delay, often with a return fee deducted from the original amount.

If a wire is delayed or returned, the sender can request a SWIFT trace through their bank to locate it. To prevent issues in the first place, make sure the recipient name matches your account exactly, include a payment reference or purpose, and ask counterparties to initiate wires early in the day so the payment has time to clear each leg before banks close.

Compliance reviews and bank verification checks

Every bank in the chain runs the wire through anti-money-laundering and sanctions screening. Most payments clear automatically, but larger amounts, higher-risk jurisdictions, or vague payment purposes can flag a wire for manual review. When that happens, the bank may request supporting documents before releasing the funds.

Keep your account's KYC information current, include a clear payment reference when the wire is initiated, and be ready to send supporting documents quickly if your bank asks. For larger or unusual payments, giving your bank a heads-up in advance can also help, since some will pre-clear an expected wire.

Simplify your international operations with Slash

International payments get harder to manage as you do more of them. You end up with routing details scattered across emails, invoices that don't reconcile cleanly against incoming wires, and a different process for every country or counterparty you work with. Slash is built to handle all of it in one place.

Your saved contacts and their payment details stay in the platform, so you're not retyping a SWIFT code or hunting for an IBAN every time a counterparty needs to pay you. Invoices go out with embedded payment links, and when a customer pays, the funds arrive already matched to the invoice they settled. If a partner prefers to pay by wire, ACH, or stablecoin, you can accommodate them on whichever rail makes sense for the transaction rather than asking everyone to conform to the same process.

Here’s what you get with Slash:

Diverse payment rails. Send and receive via SWIFT wires across 180+ countries and 135+ currencies, plus global ACH for lower-cost settlement in supported corridors.
Native crypto support. Built-in on- and off-ramps for USDC and USDT, so you can accept stablecoin payments and convert to fiat without a separate exchange account.
Embedded invoice payments. Send invoices directly from Slash with payment links your customers can use to pay by wire, ACH, or crypto. Payments arrive tied to the invoice.
Accounting integrations. Native connections with Xero, QuickBooks, Sage, and NetSuite sync transactions, fees, and FX details into your books automatically.
Slash Visa Platinum Card: Apply with just your EIN, with no hard pull on your credit, to access high-limit spending anywhere Visa is accepted. A low 1% FX fee (minimum $0.40) makes the card practical to use worldwide, and with Slash's Global USD account, you can issue cards globally.³

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Frequently asked questions

How long does an international wire transfer take to receive?

Most international wires arrive within one to five business days, though the exact timeline depends on the sending country, the currencies involved, and how many intermediary banks the payment passes through. Wires routed directly between two banks can settle in under a day, while payments that hop through multiple correspondent banks or get flagged for compliance review may take a week or longer.

Why is the wire amount I received less than what was sent?

International wires often arrive for less than the original amount because of intermediary bank fees and FX markups. Each correspondent bank in the payment chain can deduct a fee as the wire passes through, and any currency conversion is typically priced with a margin over the mid-market rate, both of which reduce the final amount that lands in your account.

What's the difference between a SWIFT code and an IBAN?

A SWIFT/BIC code identifies your bank within the global SWIFT network and is used to route the payment to the correct institution. An IBAN identifies your specific account within that bank and is used in most of Europe, the Middle East, and parts of Latin America and the Caribbean. Many international wires require both, since the SWIFT code gets the payment to your bank and the IBAN tells the bank which account to credit.