How to Track an International Wire Transfer

Key takeaways

• A unique transaction reference number makes tracking international wire transfers simple and convenient.

• Delays in transfers can often be resolved by addressing common issues like incorrect account details, compliance reviews, or bank holidays.

• Services like Xe provide clear and easy transfer tracking so that you can see where your money is every step of the way.

When sending money internationally, you don’t have to be left in the dark. Whether you’re supporting loved ones abroad, settling overseas payments, or managing international finances, tracking your wire transfer is easy and ensures peace of mind. In this guide, we’ll walk you through the steps to keep your transfer on track, troubleshoot delays, and understand the journey your money takes. Let’s get started.

The sender's guide to tracking international wire transfers

When it comes to your money, it’s always nice to be able to track where it is headed. Here’s how to track your transfer effectively:

• Obtain your transaction reference number: This unique identifier is assigned to your transfer

• Log into your online banking platform or money transfer app: Most services have a designated section for tracking transfers.

• Enter your reference number and other required details: This step unlocks the latest updates on your transfer’s journey.

• Monitor the transfer’s progress: You’ll typically see status updates like “Processing,” “In Transit,” or “Completed.”

Some services, like Xe, provide detailed tracking options, giving you a clear picture of your money’s journey, from initiation to arrival.

Tracking as a recipient: Steps to stay informed

Waiting for a transfer doesn’t mean you’re stuck without updates. Here’s how to stay in the loop:

• Request the transaction details from the sender: This includes the reference number and the expected delivery date.

• Keep an eye on your bank account: Regularly check for incoming funds.

• Set up notifications: Many banks and mobile wallets offer alerts for incoming transfers, so you’re informed the moment the money lands.

• Contact your bank if needed: If the transfer doesn’t arrive as scheduled, reach out to your bank or the transfer service for assistance.

The anatomy of an international wire transfer

Understanding how wire transfers work can demystify the process. Here’s the typical path your money takes:

1. The sending bank: Initiates the transfer and sends the funds to the intermediary bank.

2. Intermediary banks: These may act as middlemen, especially in international transactions.

3. The receiving bank: Deposits the money into the recipient’s account.

Think of it as a relay race, where each bank ensures the baton—your money—makes it to the finish line.

Time is money: How long do international wire transfers take?

The time it takes for an international wire transfer to complete will vary, but typically it ranges from 1 to 5 business days. Factors that can influence the timeline include:

• Weekends and public holidays: Transfers pause during non-business days.

• Time zones: Transactions between countries on opposite sides of the globe can take longer to process.

• Intermediary banks: Additional stops can extend the delivery time.

Troubleshooting delays: Why hasn’t the money arrived?

If your transfer seems to be taking a detour, several factors could be at play:

• Incorrect account details provided by the sender.

• Missing or incorrect SWIFT/BIC codes.

• Compliance reviews for anti-fraud measures.

• Delays with intermediary banks.

Don't panic! Most issues can be resolved with a quick call to your bank or money transfer service. Reputable transfer services, like Xe, offer dedicated customer support to provide you with help in the rare occasion something goes awry.

The waiting game: Common reasons for transfer delays

Sometimes, your money might hit a speed bump. Here's why:

• Bank holidays: Transfers aren’t processed on these days.

• Bank cut-off times: Miss the daily deadline, and your transfer will be processed the next business day.

• Compliance checks: Anti-fraud measures may temporarily hold up transfers for verification.

• Incorrect instructions: Errors in account details can send your money off-course.

Can wire transfers be cancelled?

If you’ve made a mistake, canceling a wire transfer might still be possible—provided it hasn’t been fully processed. Act quickly by contacting your bank or money transfer service to explore your options. Once the funds are in transit, retrieving them becomes much more challenging.

The price of convenience: Wire transfer costs

International wire transfers often come with fees, which can include:

• Sending fees charged by the sender’s bank or service.

• Fees from intermediary banks handling the transfer.

• Recipient bank fees for receiving the funds.

These costs can add up, so it’s important to choose a provider that offers transparency and competitive pricing.

Savvy saving: why specialized services often win

When it comes to sending money internationally, traditional banks often fall short of delivering the value and convenience modern consumers expect. Their often times higher fees, less favorable exchange rates, and slower processing times can leave you wondering if there’s a better way.

That’s where online money transfer services like Xe come in. They’re designed to prioritize what matters most, offering a smarter, more streamlined solution for your international transfer needs. Instead of settling for outdated systems, you can opt for a service that keeps your financial goals front and center, ensuring your hard-earned money goes further—it’s like upgrading your financial journey to first class without the premium cost.

Why Xe stands out for international transfers

When choosing a provider for your international money transfer, think Xe for:

• Competitive Rates: Enjoy exchange rates that maximize the value of your money.

• Low, Transparent Fees: Say goodbye to hidden costs and surprises.

• Real-Time Tracking: Keep tabs on your money’s journey with ease.

• Global Reach: Send money to over 200 countries in more than 130 currencies.

• Expert Support: Have questions? Xe’s knowledgeable team is ready to assist.

Closing the loop

Tracking an international wire transfer doesn’t have to be complicated. With a clear understanding of the process and the right tools, you can confidently send and receive money across borders. Whether you’re using Xe or another service, staying informed ensures peace of mind every step of the way.

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The content within this blog post is not intended for use as financial advice. This content is for informational purposes only.