A wire transfer is an electronic method of transferring funds between two banks or financial institutions, either domestically (within the U.S.) or internationally (across borders). Wire transfers are secure, fast, and typically used for large or time-sensitive payments. These transactions are processed using established networks like SWIFT (for international transfers) and Fedwire (for domestic U.S. transfers), which ensure that money reaches the recipient’s account efficiently and securely.

The duration of a wire transfer depends on whether it's domestic or international:

• Domestic wire transfers are typically same-day or generally within a few hours, assuming there are no issues with the recipient’s information or other bank processes.
• International wire transfers typically take 1-2 business days, but due to the additional steps involved in converting currencies and interacting with multiple banking institutions can take 2-5 business days. This may vary depending on the recipient's country, the financial intermediaries involved, and specific currency conversion processes.

When initiating a wire transfer, you must provide several key pieces of information to ensure the transaction is processed accurately and without delay:

• Recipient’s full name: Ensure that the name is exactly as it appears on their bank account.
• Recipient’s account number: The unique identifier for the recipient’s account.
• Recipient’s bank name and address: The full name and physical address of the recipient’s bank.
• SWIFT/BIC code (for international transfers): This code identifies the recipient’s financial institution on an international level. For domestic transfers, this is not required.
• ABA routing number (for domestic transfers): The nine-digit code that identifies the financial institution within the United States to route the transfer to the correct bank.

It’s essential to provide correct and accurate details to avoid delays or errors in the transfer.

No. Wire transfers are only available in branch. However, clients can send remittances online and Business customers can wire online through Business Online Banking. 

Yes, there are cut-off times for processing same-day transfers. All requests made in branches before 02:30 PM PST will be sent to the beneficiary institution on the same day. Be sure to initiate your transfer ahead of the deadline to ensure prompt processing.

To receive a wire transfer to your SBI California account, you must provide the sender with the following details:

• Your SBI California account number
• SWIFT/BIC code: This code is necessary for international transfers.
• ABA routing number: This number is needed for domestic transfers within the U.S.

Make sure the sender includes all relevant information to avoid delays or misdirected payments.

Yes, SBI California charges a nominal fee for incoming wire transfers. The standard fee is $15 for both domestic and international transfers, regardless of the amount.

You can track the status of an outgoing  wire transfer initiated through Business online banking  using SBI California’s Business online banking portal. Log in to your account, navigate to the Money Movement and wire transfer section, and check the status of the transfer. Alternatively, you can contact our customer service department, who can provide you with the current status or assist in troubleshooting if the transfer is delayed.

Yes, wire transfers through SBI California are extremely secure. We use advanced encryption technologies and secure payment networks (such as SWIFT or Fedwire) to protect your transaction details. These measures ensure that your financial information remains confidential, reducing the risk of fraud. However, it's essential to double-check the recipient's details to prevent any errors that could cause problems with the transfer.

No, SBI California is committed to transparent pricing. All fees associated with wire transfers are disclosed before you confirm the transaction. We provide a clear breakdown of any charges, so there are no hidden fees. If you're unsure of any fees or need further clarification, feel free to refer to our fee schedule or speak with a representative.

Wire transfers, especially once processed, are generally irrevocable.. If you need to cancel or modify a transfer, contact SBI California's customer support immediately, and we will try to assist, depending on the transfer's status.

Yes, transfer limits depend on the transfer method (online or in-branch), Please contact SBI California to inquire about your specific transfer limits.

For some international wire transfers, particularly those involving large sums of money or specific destination countries, additional documentation may be required. This can include an invoice, contract, or identification documents such as a government-issued ID or proof of the source of funds. Check with SBI California in advance to understand if your transfer requires extra documentation, as this can help avoid delays.

Wire transfers and ACH (Automated Clearing House) transfers are both methods of moving funds between accounts, but they serve different purposes:

• Wire transfers are faster and usually used for urgent or high-value payments. They offer same-day or next-day delivery and are typically processed individually between banks. Due to the urgency and speed, wire transfers may have higher fees.
• ACH transfers are slower but less expensive, often used for recurring payments like payroll, bills, and direct debits. These transfers can take 1-3 business days and are often free or have low fees compared to wire transfers.

Currently, wire transfers at SBI California are designed to be one-time transfers only. However, if you need to set up recurring payments, you might want to consider using ACH transfers, which are more suitable for regular, automated transactions.