Banking and Finance
Elizabeth
July 27, 2021
At Cheese, it’s our goal to provide you with helpful, useful information that allows you to better navigate your financial life. So, we’ve developed resources that allow you to learn about monthly banking fees and, more specifically, all of the Chase banking fees you need to know about in order to avoid paying extra just to use your Chase bank account.
When it comes time to transfer cash to someone else, however, whether they live in the United States or are currently abroad, you’ll definitely need to understand how to navigate Chase online checking and services in order to send the cash. How much are Chase’s wire transfer fees and how do you send a wire transfer through Chase? We’ve got the answers for you.
What Are the Wire Transfer Fees at Chase?
To complete this transfer, you usually need the name of the recipient, their bank name, account number, and pickup details. Depending on the banks that both the sender and the recipient use, it’s possible to initiate a wire transfer via the bank itself. Or, it can be done through a third-party money transfer service such as Western Union. And, there are almost always fees involved, both for incoming and outgoing transfers both internationally and domestically.
International Wire Transfer Fees at Chase
Like every other major bank, initiating or receiving a Chase Bank wire transfer incurs a fee. The Chase international wire transfer fee is:
- Chase bank's incoming foreign wire transfers are $15 per transaction
- Chase Bank outgoing foreign wire transfers sent in U.S. Dollar fees are $40 per transaction
- Online wires sent to a bank outside the US in foreign currency have no Chase Bank wire fee for amounts equal to $5,000 USD or more or only a $5 Chase Bank wire fee when less than $5,000 USD
There are no wire transfer fees at Chase if you’re sending or receiving money either domestically or internationally between accounts at Chase. And, it’s also important to note that the above-mentioned values are for online transfers. If you visit a Chase branch in-person, international transactions are $50 each.
Domestic Wire Transfer Fees at Chase
Want to make a Chase Bank wire transfer to another account within the United States? It’s possible, and easy, especially if the recipient also has a bank account with Chase. The Chase domestic wire transfer fee is:
- Chase incoming domestic wire transfer fees are $15 per transaction
- Chase outgoing domestic wire transfer fees are $25 per transaction
- Chase outgoing domestic wire transfers that are performed in-person at a Chase branch will cost $35 per transaction
You can also transfer money with your Chase account by using Zelle, a money transfer app that’s integrated into the Chase online banking system. It’s free for most users (depending on the bank of the recipient) and is a great alternative to a traditional wire transfer. Again, the ability to complete a transfer via Zelle or any other money transfer app depends on the bank of the recipient, how much you’re sending, and where the bank is located.
Wire Transfer Policies and Limits at Chase
Are there wire transfer limits at Chase? Yes, and they’re actually quite high compared to other banks. Currently, you can send as much money as you have in your account, or $100,000, whichever is less. If you have a Chase business account you can request a higher limit by contacting Chase bank credit card support.
If you’ve decided to use Zelle (as mentioned above, it’s integrated into the Chase app and Chase mobile banking), the transfer limit is currently $2,000 per day or $16,000 per month for personal Chase accounts; the limits for Chase business accounts is $5,000 per day and $40,000 per month. There are no limits to how much money you can receive through Zelle.
In terms of policies and other things to know about Chase Bank wire transfers, you’ll likely need to know certain information to complete the transfer, such as the bank’s SWIFT code, bank address, and more. Here is some helpful information:
- Bank Name: JP Morgan Chase Bank
- Chase bank SWIFT code for incoming wires: CHASUS33
- Chase bank address for wire:
Chase Bank
270 Park Avenue
New York, NY 10017
Some wire transfers might ask for an IBAN, which is a set of numbers that create a code for transfer in Europe. The US doesn’t currently participate in IBAN, which means no American bank will provide you with an IBAN code. If you’re transferring money to an account in Europe that does use IBAN, you can usually find it by visiting their website or asking the recipient for the number.
Routing numbers and the beneficiary account number can all be found by accessing your Chase bank account online or via the Chase app. Here is a helpful guide on how to find your routing number with Chase.
How to Send Wire Transfers Through Chase
How to Send Chase Bank Wire Transfers Online
If you are going to initiate a wire transfer online through Chase, you simply need to first log in to your Chase account online or via the Chase app. Then, follow these steps:
- At the top of the screen, hover over the “Pay & Transfer” tab
- Choose “Wire Money”
- At the top right, click on “Add Recipient:
- Enter the relevant information, such as the bank’s country, routing number, and recipient information
- Once the recipient has been added, go back to “Make a Wire Transfer”
- Enter the details of the transfer, review the transaction, and submit the transfer request
How to Send Chase Bank Wire Transfers Offline
It’s possible to initiate a Chase wire transfer offline. All you have to do is head to your nearest branch with the information in hand. Contact Chase customer service to find out the bank’s operating hours and to potentially set up an appointment to avoid waiting in line.
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As a seasoned expert in banking and finance, I can confidently provide comprehensive insights into the article discussing Chase banking fees and wire transfers. My extensive knowledge in this field enables me to break down the key concepts and offer a detailed explanation.
Firstly, the article delves into the wire transfer fees at Chase, emphasizing the importance of understanding these fees to avoid extra charges when using a Chase bank account. It touches upon both international and domestic wire transfers, shedding light on the associated costs and methods.
International Wire Transfer Fees at Chase:
- Chase bank charges $15 per transaction for incoming foreign wire transfers.
- Outgoing foreign wire transfers sent in U.S. dollars incur a fee of $40 per transaction.
- Online wires sent to a foreign bank in foreign currency have no Chase Bank wire fee for amounts equal to $5,000 USD or more. For amounts less than $5,000 USD, a $5 fee is applicable.
- In-person international transactions at a Chase branch cost $50 each.
Domestic Wire Transfer Fees at Chase:
- Incoming domestic wire transfer fees are $15 per transaction.
- Outgoing domestic wire transfer fees are $25 per transaction.
- In-person outgoing domestic wire transfers at a Chase branch cost $35 per transaction.
The article also highlights an alternative to traditional wire transfers – Zelle, an integrated money transfer app within Chase online banking. Zelle is free for most users and offers a convenient option for transferring money domestically.
Wire Transfer Policies and Limits at Chase:
- Chase imposes high wire transfer limits, allowing users to send as much money as they have in their account or up to $100,000, whichever is less.
- Business account holders can request higher limits through Chase bank credit card support.
- Zelle has daily and monthly limits for personal and business accounts.
Furthermore, the article provides essential information for completing wire transfers, including the bank's SWIFT code, address, and additional details such as IBAN (not applicable in the U.S.). Routing numbers and beneficiary account numbers can be accessed through the Chase online platform or app.
To guide readers on how to send wire transfers through Chase, the article outlines step-by-step instructions for both online and offline methods. Online transfers involve logging into the Chase account, selecting the "Pay & Transfer" tab, and following specific steps to input recipient information and initiate the transfer. Offline transfers can be initiated at a Chase branch by providing the necessary details.
In conclusion, the article not only educates readers on Chase's wire transfer fees but also offers practical guidance on the process, alternatives like Zelle, and additional information to ensure a seamless banking experience.
