A wire transfer is an electronic payment that moves money directly from one bank account to another, often for large or urgent amounts. For crypto buyers, it is one way to fund a purchase from a bank account. Wires are usually final once sent, so check the recipient's details before you confirm.
How does a wire transfer work?
You give your bank the amount and the recipient’s name, bank and account details. Your bank sends the money straight to theirs.
In the US, many wires run on the Federal Reserve’s Fedwire Funds Service, which is built for large-value, time-critical payments. Its transfers are final and irrevocable once processed. It differs from an ACH transfer, the other common US bank payment.
International wires usually travel over SWIFT. The Deutsche Bundesbank explains that SWIFT only carries payment messages between banks and does not settle the money itself. See also buying Bitcoin with a SWIFT transfer.
What does a wire look like in practice?
Illustrative example: on a Saturday, you ask your US bank to wire $2,000 to another US account. As of September 2026, Fedwire runs Monday to Friday, excluding designated holidays, so the wire usually waits until the next business day.
Why does it matter when you buy crypto?
A wire is one way to pay for crypto from a bank account, especially for larger amounts. Payment methods vary by platform and country, so check Coinmama’s payment methods and account limits first.
Your bank may charge a fee to send a wire. Coinmama does not add its own fee. All fees are shown before you confirm your order. When you are ready, see crypto prices and payment options on Coinmama.
What are the risks and red flags?
A wire is hard to undo. The US Federal Trade Commission warns that wiring money through a transfer service is like sending cash: once sent, you usually cannot get it back.
- Never wire money to someone you have not met in person, or to anyone who rushes you to pay.
- Take payment details only from the platform itself, never from an email, chat or phone call.
- Wired money to a scammer? Call your bank at once and ask if it can reverse the transfer.
Learn how to protect yourself from fraud.
Go deeper: read the guide on how to buy crypto.
