The name and address of the person, company or other entity receiving the money. [1] X Research source The name and address of the bank the money is being sent to. The recipient’s account number. The American Banking Association’s (ABA) routing number for the bank the money is being sent to. [2] X Research source If you are in the UK you will need the receiving bank’s six digit sort code. [3] X Research source You may need “further delivery” instructions depending on the receiving bank. This could be an additional account number or name.

If you are due to get paid at the end of the week, but only have time to go to the bank before that, you can set the date for the transfer so it is processed after you get paid. The teller will most likely ask you on what date you want to send the money when she processes your transfer.

It can take from 1 to 3 days for the funds to appear in the receiving account. Bank transfers sent within the same country usually are credited faster than funds sent internationally. Transfers to another account held with the same bank can arrive almost immediately. [6] X Research source Check your account for transfer fees deducted from your account. Your bank may deduct a fee for sending the transfer, and the receiving bank may also deduct a fee.

As well as making it easy to send money without visiting the branch, online banking allows to you access your account information anytime and set up and control your incomings and outgoings.

You may be asked to include a reference for the payment which is intended to enable to recipient to clearly identify it. For example, if you are sending money to a flatmate for a bill, you might write “utilities bill” as the reference. If you are in the UK and you use a “card reader” for online banking be sure to have this to hand, as well as the card for that account. You will need to use the reader if you are making a transfer to a recipient you haven’t sent money to before. [8] X Research source

Be sure to double-check all the information. If you make a mistake when typing the recipient’s account information you are not guaranteed to get the money back. [9] X Research source If you have typed in the wrong account number, act quickly and contact your bank to stop the payment immediately. [10] X Research source There are also a great deal of fraudulent invoices, so you need to make sure you’re actually sending money to a real person or business, since getting your money back is not always easy or possible.

In theory, all you need to do is enter the amount you want to transfer and the recipient will get a text or an email which notifies them and provides all the information they need to obtain the money. [11] X Research source

Be wary of special fee deals. It is possible that the money you might save is being made up through the exchange rate you are offered. [12] X Research source As with domestic transfers, you can usually get the money to the recipient more quickly by paying extra fees. [13] X Research source

You will need these codes and numbers from your own account as well as from the receiving account. [14] X Research source

If you discover that you don’t know your SWIFT number, your bank will able to find it and tell you how you can identify it on your statements or through online banking in the future. Dealing with people face-to-face can make things much easier and clearer, especially if you are uncertain about some of the terms and language used.

The amount you want to transfer, and the speed at which you want it to arrive will affect the transfer options you have, as well as any charges you may face.

These companies are typically regulated differently from high-streets banks, and as such your money might be less safe if it were held by a company which then went into financial difficulty. [16] X Research source Be sure to research any money sending services before using them, checking they are reputable and registered with your national financial service regulators. You can also use an intermediary service such as PayPal.