Domestic Fedwire wires settle same-day when initiated before the 3:00pm Eastern Time cutoff. International SWIFT wires settle in 1-3 business days subject to correspondent bank timing. NexTier Bank screens every wire against OFAC sanctions lists in real time as required for every US-chartered bank.
Personal wires under $50,000 initiate in-branch. Commercial wires initiate via the commercial online banking tier with dual-control approval. For time-sensitive smaller payments, consider bill pay (electronic post next business day) or Zelle inside the mobile app.
Wire transfer types, timing and what to bring when you initiate one.
Fedwire is the Federal Reserve's real-time gross-settlement system for US-dollar interbank wires. Wires submitted before the 3:00pm ET cutoff settle in the receiving bank on the same business day, typically within an hour. Post-cutoff submissions settle next business day. Fedwire does not operate on federal holidays.
SWIFT messages route through correspondent banks before reaching the ultimate beneficiary bank. International wires submitted before 1:00pm ET typically arrive in 1-3 business days. Currency conversion, if any, occurs at the correspondent bank at its posted rate. Correspondent bank fees vary by corridor and are disclosed in advance.
Personal wires under $50,000 initiate in-branch with a signed wire authorization and government-issued photo ID. Personal wires over $50,000 require relationship banker review. Commercial wires initiate via commercial online banking with dual-control approval: one user enters, a second user approves.
Every wire — incoming and outgoing, domestic and international — is screened in real time against the US Treasury Office of Foreign Assets Control sanctions lists. A hit holds the wire for compliance review; most hits clear within a business day after ID verification of the beneficiary. This is a federal regulatory requirement, not a discretionary policy.
Wire types, cutoffs, settlement windows, fees and how they initiate.
| Wire Type | Cutoff (ET) | Settlement | Fee | Initiation |
|---|---|---|---|---|
| Domestic Outbound Fedwire | 3:00pm business day | Same-day | $25 | In-branch or commercial online |
| Domestic Inbound Fedwire | Continuous | Same-day credit | $15 | Automatic on receipt |
| International Outbound SWIFT | 1:00pm business day | 1-3 business days | $45 + correspondent fees | In-branch or commercial online |
| International Inbound SWIFT | Continuous | 1-3 business days | $20 | Automatic on receipt |
| Internal Book Transfer | Continuous | Immediate | $0 | Online banking or branch |
The regulatory and control framework around every wire at NexTier Bank.
Commercial wires over $10,000 require dual control by default — one user enters the wire, a second user with approval entitlement releases it. The threshold is adjustable downward for clients who prefer stricter control. Callback verification by phone is required for any wire to a newly added beneficiary within the last 30 days.
Personal wires use in-branch initiation with signature verification as the functional equivalent of dual control.
Wires are not covered by the consumer-favorable error-resolution framework of ACH transfers under Regulation E. Once a wire is released and the receiving bank credits the beneficiary, the funds are functionally irrevocable. Recall is at the discretion of the receiving bank.
If a consumer suspects they've been defrauded into sending a wire, contact 1-800-262-8215 immediately. Consumer complaints can also be filed with the Consumer Financial Protection Bureau and reported to the Federal Trade Commission.
Exactly what happens after a wire is released.
Upon release (in-branch signature or commercial online approval), the wire is screened against OFAC, cross-checked for internal duplicate, and queued for the Fedwire or SWIFT gateway. Average time from release to gateway: 90 seconds.
Fedwire settlement returns a MT-103 confirmation within minutes for domestic wires. SWIFT returns an acknowledgement at each correspondent hop. The wire confirmation number is recorded in the accountholder's online banking history for recovery and audit.
Every wire appears in the daily statement and in eStatements for seven-year retention. Commercial clients receive Fedwire and SWIFT message logs on request for their month-end close. Wires can be exported to QuickBooks along with other transaction types.
Community Banking Resources — Topic Cluster