You can send a wire transfer directly from your Baselane banking account to pay vendors, partners, or transfer funds to another financial institution. Follow the steps below to initiate a wire payment.
In this article, we will cover
How to Send a Wire Transfer
Sign in to your Baselane account and navigate to Banking or Transfers & Payments.
Click Move Money, then select Send Money.
Choose an existing recipient or click Add Recipient to create a new one.
Under Recipient Details, select Wire Transfers from the Payment Method dropdown.
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Enter the wire payment details.
Legal bank account name.
Wire routing number [some banks have different routing numbers for ACH and Wire payments. Please ensure you are using the correct routing number.
Account number.
Recipient address.
Select Save and continue.
Enter the wire amount and the Baselane banking account you are sending the funds from.
Choose whether the payment should be one-time or recurring.
Select next.
Add a message for the recipient (use this if there is an FFC).
Add bookkeeping details such as a category, property, or note.
Review the payment details and select save and continue.
Please note that the cutoff time to submit a wire transfer is 5:40 PM ET on business days. Wires submitted after this time, on weekends, or on federal holidays will be processed on the next business day.
Adding Wire Instructions for a Recipient
When adding a new recipient for a wire payment, you will need to enter the wire instructions provided by the recipient’s bank. This typically includes:
Recipient name
Bank name
Routing number
Account number
Recipient address
Please note that the recipient address cannot be a P.O. Box and must be a physical address. Once the recipient is saved, you can send future or recurring payments without entering payment details again.
Important Information When Entering Wire Instructions
Some wire instructions may include additional information such as a secondary account name or number, often labeled “For Further Credit.”
If this information is provided, include it in the Message for the recipient field exactly as it appears in the instructions so the receiving bank can properly route the funds.
Wire Transfer Fees and Cutoff Times
Outbound wire transfers cost $15 per wire. This fee is waived if your total balance across Baselane banking accounts is $50,000 or more at the time the wire is initiated.
The daily cutoff time to submit a wire is 5:40 PM ET on business days. Wires submitted after this time, on weekends, or on federal holidays will be processed on the next business day.
If you set up a recurring wire payment, the wire will process each month based on the schedule you selected.
If the scheduled date falls on a weekend or bank holiday, the payment will process on the prior business day (Friday) or the next business day (Monday). This behavior is displayed when setting up the recurring payment.
Frequently Asked Questions
What are the daily limits for sending a wire?
Please find more details regarding your daily account limits here.
How can I contact Baselane Support for assistance with a wire transfer?
If you need assistance with sending a wire or have exceeded the wire limit, please contact our Support team.
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