Amex Business Checking Wire Transfers: Features, Fees & How It Works

If you currently run a business and need to send or receive money quickly and securely, wire transfers through American Express Business Checking might be just what you need. The platform currently has several tools to help simplify business transactions, along with the backing of an established financial provider.¹

The account is designed with business owners at its forefront, so no monthly fees, competitive interest rates, and seamless integrations.² It’s especially appealing for small business owners looking to manage their cash flow more efficiently.³

So with that being said, let’s break down exactly how wire transfers work with Amex Business Checking and what you can expect as an account holder.

How Wire Transfers Work with Amex Business Checking

The process for sending a wire transfer with Amex Business Checking is pretty straightforward, even if you’ve never done it before. Wire transfers are designed to move money securely and quickly between bank accounts, and with Amex, you can handle this directly from your online dashboard. Some banks can make this feel complicated, but Amex keeps it clean and business-friendly.

You’ll find all the tools you need right within your account, including instructions for domestic and international wires.¹ Not to mention, everything is protected by American Express’s strong security systems, which may help give you peace of mind when large sums are involved.

Pros and Cons Of An Amex Business Checking Transfer

Before deciding whether to use wire transfers with Amex Business Checking, it’s helpful to weigh the benefits and potential limitations. Below is a breakdown of the key pros and cons to consider based on the account features, fees, and user experience.

Amex Business Checking provides wire transfer capabilities that may suit the needs of some business users. The account features no monthly maintenance fees and supports domestic and international wire transfers through its digital platform. It also includes fast domestic processing if submitted before the daily cut-off time. However, fees may apply for outgoing wires, and certain international destinations may not be supported.

Please note that International wire fees can vary and may be higher compared to digital-first providers like Wise, so if you plan to do more international transfers than domestic, this option may not be the best. So while it does have its pros, it’s important to weigh everything out before making a decision.

Steps to Send a Business Wire Transfer

Like we’ve mentioned above, sending a wire transfer through your Amex Business Checking account is simple once you know where to click.

After logging in, head to the payments or transfers section. From there, you’ll choose “Send a Wire Transfer,” input the recipient’s bank info, and review everything before confirming.¹

You’ll need details like the recipient’s name, routing number, and account number, so double-check those. Amex may also ask for a brief description or memo, depending on the type of transfer.

Once submitted, the funds are typically processed the same business day if sent early enough.² Keep in mind there’s a daily cut-off time, so anything after that will roll into the next business day. International wire transfers may take 1–3 business days to process, and additional information, such as the recipient bank’s SWIFT/BIC code and address, may be required. Availability of certain destinations may vary, so it’s best to confirm supported countries before attempting to complete the transfer.

How to Receive Wire Transfers in Your Amex Business Account

Receiving a wire transfer with your Amex Business Checking account is easy as long as you provide the sender with the right details.

First things first, log in to your account and look for the section with your wire transfer instructions.¹ This typically includes your routing number, account number, and Amex’s wire address. You’ll want to copy and share this information exactly as shown to avoid any delays.

Once the sender initiates the transfer on their end, you should see the money in your account within one to two business days for domestic wires.^2. You’ll get a notification when it arrives, and the funds will be ready to use immediately.

It’s a smooth process and really useful if you have clients or partners sending payments regularly. You should make sure to check for any incoming wire fees depending on where the money is coming from or if it’s coming in internationally.³

International wire transfers may take longer, sometimes 3–5 business days, and can be subject to intermediary bank fees or currency conversion charges. The sender may also need to provide additional details, such as the SWIFT/BIC code and the recipient bank’s address.

Fees and Processing Times to Expect

Amex Business Checking offers a transparent fee structure for its users. The account does not charge a monthly maintenance fee.¹ However, sending a domestic wire transfer generally involves a fee, typically between $25 and $30.²

Receiving domestic wire transfers is often free, though users are advised to review the most recent fee disclosures and account terms for accuracy.³ Domestic wire transfers are usually processed on the same business day if submitted before the cut-off time, or on the next business day if submitted later.

International wire transfers may take one to three business days or longer, like we mentioned above, depending on the destination country and any intermediary banks involved. In some cases, third-party services may be used in conjunction with Amex Business Checking to help manage fees or exchange rates for international transfers.⁴

Wise Business Could Help Your Company Save on Global Payments

Transfer Limits

It’s important to know there are limits in place, both for domestic and international transactions with your Amex Business Checking Account. Amex doesn’t always publish these limits publicly; they typically depend on factors like your account history, the type of transfer, and security considerations.⁴

For domestic wires, most users can expect fairly generous daily limits, often enough to cover routine business needs like vendor payments or payroll.² International transfers, however, may have tighter restrictions, especially for newer accounts.³ You might also be subject to review if you’re sending large sums overseas or to higher-risk countries. High-risk countries include countries sanctioned by the U.S. Government.⁴

If you plan to make high-volume or high-value transfers regularly, it’s a good idea to reach out to Amex support and confirm your specific limits.¹ They may be able to adjust them or offer guidance to help you avoid any interruptions when moving funds.

Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Use Wise Business >>

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers

• Global Account: Send money to countries and hold balances in multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local

• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account

• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met

• Free invoicing tool: Generate and send professional invoices

• No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here

Final Thoughts

Amex Business Checking wire transfers can be a useful option for businesses that need to send or receive funds securely. The platform is fully digital, which may appeal to users who prefer managing finances online. With no monthly maintenance fees and a straightforward interface, it offers a simple way to handle both domestic and international transactions.

That said, there are some costs and limitations to keep in mind, such as wire transfer fees and potential delays for international payments. Whether this service is the right fit will depend on your specific needs and how your business handles payments. As always, reviewing the most up-to-date terms and comparing options can help you make an informed decision.

So what you should take from this is this: Amex Business Checking Wire Transfers are a modern solution, but it’s worth looking closely to make sure it aligns with your workflow.

Sources:

1. Checking Accounts | American Express
2. American Express Business Checking Review | Business Insider
3. Amex Business Checking Review | Business Credit Workshop
4. American Express AMEX wire transfer | Instarem