Wire Transfers

As a Commerce Bank customer, you are able to send and receive wire transfers to and from other banks in the United States as well as internationally with a Signed Wire Transfer Agreement. A fee is charged for incoming and outgoing wire transfers. Please contact your local branch for fee information.

 Frequently asked questions - International Wire Transfers

1. How does a wire transfer work?
2. How long will it take for the wire to reach its destination?
3. What information do I need to have in order to initiate an outgoing international wire transfer?
4. Does Commerce Bank send international wires for non-customers?
5. May I send a wire in a currency other than U.S. dollars?
6. May I send a wire transfer to any country?

1. How does a wire transfer work?
   • The first step is to initiate the wire transfer. Your account is debited the day of the transfer. Next, Commerce Bank sends a payment message to an intermediary or beneficiary bank. Then, when the beneficiary bank receives the payment instructions, they can credit the beneficiary’s account. If you are sending U.S. dollars, the payment may be converted into the local currency before the beneficiary receives the final payment. Wire transfer is one of the safest and fastest ways to send money internationally. However, Commerce Bank no longer has control of the money once the funds leave the bank. Each bank involved in the transaction may deduct a processing fee from the proceeds.

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2. How long will it take for the wire to reach its destination?
   • Allow 3 to 5 business days for the beneficiary to receive their money, depending on the destination country and the number of banks involved in the transfer.

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3. What information do I need to have in order to initiate an outgoing international wire transfer?
   • To comply with U.S. and foreign laws and regulations governing anti-money laundering and anti-terrorism, you need to provide either a complete address (including city and state or country and if applicable, branch location) for the beneficiary bank OR a Society for Worldwide Inter-bank Financial Telecommunication code (Bank Identifier Code) also known as a SWIFT (BIC) address. Please provide both the originator and the beneficiary’s complete name, address and account number. P.O. Boxes are not allowed for either the originator or the beneficiary’s address.

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4. Does Commerce Bank send international wires for non-customers?
   • No, Commerce Bank does not send international wires for non-customers.

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5. May I send a wire in a currency other than U.S. dollars?
   • Yes, you can send a wire in currency other than U.S. dollars. You can send a wire in the following currencies:
     • AUD – Australian Dollars
     • NZD – New Zealand Dollars
     • CAD – Canadian Dollars
     • NOK – Norwegian Krone
     • DKK – Danish Krone
     • SGD – Singapore Dollars
     • EUR – European Union Euros
     • ZAR – South African Rand
     • HKD – Hong Kong Dollars
     • SEK – Swedish Krona
     • JPY – Japanese Yen
     • CHF – Swiss Francs
     • MXN – Mexican Pesos
     • GBP – United Kingdom Pound Sterling

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6. May I send a wire transfer to any country?
   • The only countries that we cannot send wire transfers to are those currently on the Office of Foreign Asset Control’s sanctions list.

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