Wire transfers remain one of the most common ways to move money across borders. They’re fast, secure, and widely accepted, but they can also be unforgiving if even a small detail is missing. A single mismatch in a name or address can cause delays, returned funds, or extra fees.

In this article, we’ll break down how international wire transfers work, what information you need to provide, why exact matches matter, and the recent US policy update that makes accuracy even more important. 

We’ll also share what to do if a transfer fails and the potential downsides of mistakes, so you can send and receive funds with confidence.

How International Wire Transfers Work

International wire transfers might sound complicated, but at their core, they’re just a way for banks to send money across borders safely. Here’s a breakdown of how the process usually works:

Initiating the Transfer

It all starts with the sender providing instructions to their bank. This includes the recipient’s details, the amount, the currency, and which bank account the money should go to.

Using the SWIFT Network

Most international wires rely on the SWIFT system, which is like a secure messaging network for banks. Instead of moving money directly, SWIFT passes instructions between banks so the funds can be settled.

Involving Intermediary Banks

If the sender’s bank doesn’t have a direct connection with the recipient’s bank, the transfer may pass through one or more intermediary banks. Each one helps move the money closer to its final destination.

Clearing and Settlement

Once the instructions reach the recipient’s bank, the money undergoes internal checks, including verification of account details, screening for sanctions, and confirmation of the sender’s information. Only after clearing these checks are the funds released.

Delivery Timeline

While domestic transfers can be almost instant, international wires usually take 1–5 business days. Factors like time zones, weekends, intermediary banks, and compliance reviews can add extra time.

Information Needed to Provide for Wire Transfers

Sending money overseas isn’t just about the amount—it’s about the details. Banks are strict about what information must be included in a wire transfer, and missing even one field can cause your payment to be delayed or returned. Here’s what you’ll usually need to provide:

• Recipient’s Full Name

The recipient’s legal name exactly as it appears on their bank account. Nicknames, shortened names, or spelling errors can cause a mismatch.

• Recipient’s Address

Most banks now require the full home or business address of the recipient. This includes street, city, state (if applicable), postal code, and country.

• Bank Account Number or IBAN

In the US, this is usually just the account number. In other countries, you’ll often need an IBAN (International Bank Account Number), which can be 20+ digits long.

• Bank’s Name and Address

The official name of the receiving bank, plus its address. This helps confirm the transfer is going to the right institution.

• SWIFT/BIC Code

The SWIFT code (also called a BIC) is the unique identifier for the recipient’s bank. Without this, the transfer cannot be routed internationally.

• Intermediary Bank (If Needed)

Sometimes, especially for smaller or regional banks, money must first pass through a larger “intermediary” bank. If this applies, your bank will ask for those details too.

• Purpose of Payment

Some countries and banks require you to note why the transfer is being made (e.g., “invoice payment,” “tuition fees,” “family support”).

The Importance of Exact Wire Transfer Details

When sending or receiving a wire transfer, every detail has to match exactly. Banks don’t have room for “close enough.” Even small differences in spelling, formatting, or missing details can cause your money to be delayed, returned, or held up for extra checks. Here’s why:

Bank Verification Systems Are Strict

Banks run transfers through automated systems that check if the information provided matches what’s on file. If your name, address, or account number doesn’t align perfectly, the system may flag it.

Compliance Rules Require Full Information

US banks must follow laws like the Bank Secrecy Act and the Travel Rule, which require them to keep and pass on accurate sender and recipient details. If anything is missing or inconsistent, the transfer could be rejected.

The 2025 Policy Update Made Rules Tighter

Recently, the Federal Reserve updated its wire system rules. Now, transfers must include the full legal name and home address of the recipient. If those fields are incomplete or don’t match exactly, the money is sent back to the sender, which can take 1–2 weeks to process.

Small Errors Can Have Big Consequences

Mistakes like using “Jon” instead of “Jonathan,” leaving out an apartment or suite number, or misspelling a street name, each of which can be enough to cause a transfer to fail, so be sure to always double-check.

Recent Policy Changes You Should Know About

In July 2025, the Federal Reserve updated its wire transfer system rules as part of a larger move to new messaging standards (ISO 20022). This change affects all US banks, not just one or two.

What Changed

Banks are now required to include more complete information when processing international wire transfers. In particular:

• The recipient’s full legal name must be included.
• The recipient’s full home address must also be included.

What It Means for You

If the information provided on the wire transfer doesn’t match exactly with what’s on your account, the transfer will bounce back. That refund process isn’t instant; depending on the banks involved, it can take 1–2 weeks for the sender to get their money back.

Why Banks Are Doing This

The goal is to improve accuracy, reduce fraud, and ensure compliance with US regulations. By requiring exact details, banks reduce errors and enhance security.

Some Helpful Tips

• Always make sure the person sending you money includes your full name and full address exactly as listed on your account.
• Don’t wait until the last minute to request wires if you need funds urgently.
• If a wire doesn’t arrive after 3 business days, reach out to your bank so they can help trace it.

What to Do If a Wire Transfer Fails

Even when you’ve double-checked all the details, wire transfers can sometimes get stuck, delayed, or returned. If that happens, don’t panic—most issues can be solved by working with your bank and confirming the right information. Here’s what you should do:

Call Your Bank Right Away

Start by contacting your bank’s customer support. Provide them with the date, amount, and recipient details of the transfer. They can begin checking whether the funds are in process, on hold, or have been returned.

Verify All the Details

Ask your bank to confirm the information line by line:

• Recipient’s full legal name
• Full address (no missing numbers or spelling errors)
• Account number/IBAN
• Bank name and SWIFT/BIC code

Any mismatch here could explain why the transfer didn’t go through.

Request a Wire Trace

Banks can send a request through the SWIFT system to trace the wire. This helps track where the money is, whether it’s at an intermediary bank, the recipient’s bank, or already on its way back.

Ask About a Recall (If Needed)

If the money was sent with the wrong details but hasn’t yet reached the wrong account, your bank may be able to recall it. This isn’t always guaranteed, but acting quickly increases your chances.

Check for Compliance Holds

Sometimes, wires are delayed by compliance checks, especially if they involve large amounts or certain countries. In these cases, the funds may be frozen until the bank completes its review.

Downsides of a Failed Wire Transfer

Wire transfers are designed to be reliable, but when they fail, the impact can be frustrating and costly. Whether the issue comes from missing details, a mismatch, or compliance checks, the consequences can create real problems for both the sender and recipient.

Long Delays in Receiving Funds

When a transfer bounces back, the refund doesn’t happen instantly. It can take one to two weeks for the money to return to the sender’s account, sometimes even longer if multiple intermediary banks are involved.

Extra Fees on Both Ends

Banks often charge fees to send a wire, and those fees aren’t always refunded if the transfer fails. In some cases, both the sender and recipient’s banks deduct charges, meaning you get back less money than you sent.

Foreign Exchange Losses

If your funds were converted into another currency during the process, a failed wire can cost you twice, once for the initial conversion and again if the money is returned at a different rate. These hidden losses add up quickly.

Compliance Holds

Sometimes transfers are flagged for extra checks under anti-money laundering (AML) or sanctions rules. While the money isn’t lost, it may be frozen for days or weeks, leaving you without access until the review is complete.

Uncertainty and Stress

Perhaps the biggest downside is the uncertainty. A failed transfer can leave you unsure where your money is, when it will be returned, or whether another attempt will succeed. This is especially difficult if the payment was urgent, like for rent, tuition, or a supplier invoice.

Final Thoughts

International wire transfers remain one of the most reliable ways to move money across borders, but they demand accuracy. Be sure to provide the right account number and SWIFT code to ensure your full name and address match exactly. With the recent updates to US banking rules, even the smallest mistake can cause costly delays, extra fees, and unnecessary stress.

Fortunately, most of these problems can be avoided with preparation and precision. Double-checking your information before sending or receiving a transfer helps ensure your funds arrive on time and in full.

And if you’re an international business owner or seller, the smartest step you can take is to open an account with Adro. Designed for non-residents, Adro makes it easier to receive wire transfers in USD, avoid hidden fees, and keep your business finances organized.