Use wire transfers to send money, to family members or businesses, in the US and around the world. Don't forget, it's an easy way to receive money too!
If you do not know the currency of the receiving account, you should send in US dollars. If you do know the foreign currency of the receiving account, there are benefits to sending it that way. Your recipient (in most instances) will receive the funds sooner than if you sent the funds in US dollars. In addition, initiating your transfer in the recipient's local currency will allow you to lock in the exchange rate up front. You will see the exact exchange rate when you initiate a transfer.
Wires going to foreign countries require different numbers depending on the receiving foreign country.
1. For international wires you may need a country-specific account structure, for example a CLABE for Mexico or an IBAN. Other countries might require a SWIFT Bank Identifier Code or a National ID with the recipient’s account number.
2. All wire transfer payments should include a SWIFT Bank Identifier Code or a National ID as applicable, and for participating countries the beneficiary’s International Bank Account Number (IBAN). Mexican banks require a CLABE number in addition to the SWIFT BIC.