While there are many ways of transferring funds these days, such as paper checks, mobile apps, and electronic transfers—wire transfers still remain a preferred way of transferring funds electronically between people, businesses, and banks.
How Wire Transfers Work
Wire transfers are fast, secure, and easy to make. If you need to transfer funds, you will provide us with the amount and destination, such as the recipient’s name, bank, address, and account number.
In some cases, you might designate a particular location, such as a business, where the recipient can access the funds and may need to provide the other bank’s SWIFT BIC and the International Payments System Routing Code.
Sometimes referred to as a “bank wire” or a “remittance transfer,” they’re popular for domestic and international transfers. They may be used to pay suppliers, for business transactions, or to help out a family member or friend.
Transfers Made Quickly
- Most transfers take just one business day in the United States.
- It usually takes one to five business days to send money to another country, depending on the location.
- Transfers to Europe are usually handled quickly, but it can take longer when sending funds to less developed parts of the world.
- Transfer fees are based on the destination, the amount being transferred, and the wire transfer provider.
We Make It Easy to Wire Money
Domestic and international wire transfers can be initiated* by visiting your local branch, by telephone**, or safely and securely through our online portal.
Receiving a wire is now easier than ever.
Customers can now receive domestic wire transfers directly using our routing number—no correspondent bank instructions required. We will also continue to accept incoming wires sent through our correspondent bank.
If you have any questions or would like to set up a wire transfer, please contact your local branch.
*Cutoff time (3 pm Central Time)
**Must have a wire transfer agreement on file.
**Must have a wire transfer agreement on file.
Frequently Asked Questions
What is a wire transfer, and how does it work?
A wire transfer is a fast and secure way to send money electronically from one bank to another. Funds are transmitted directly between financial institutions, making wire transfers ideal for large transactions, business payments, and international transfers.
How long does it take for a wire transfer to be completed?
Domestic wire transfers are typically processed within the same business day, depending on the time of submission.
International wire transfers may take 1–5 business days, depending on the receiving bank, currency conversions, and country regulations.
Can I schedule a wire transfer in advance?
Yes. Marion Community Bank allows businesses to schedule one-time or recurring wire transfers for future dates, making it easier to manage payments and cash flow.
How do I know if my wire transfer has been completed?
Once a wire transfer is sent, you can:
Receive a confirmation number from Marion Community Bank
Request a wire status update if the recipient has not received the
funds within the expected timeframe
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