# What are wire transfers and SWIFT codes?

**Wire transfer**  
A wire transfer is an electronic payment service for transferring funds by wire, for example, through SWIFT, the Federal Reserve Wire Network, or the Clearing House Interbank Payments System.

**SWIFT code**  
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) Code is a unique identification code that may be required by some banks, broker-dealers, and investment managers to send an international wire transfer.

Business accounts can process wires online or in the app. Select **Transfer & Pay** > **Wire**.

**Domestic wires** submitted before 5:30pm ET and **international wires** submitted before 4pm ET will be sent the same day. Wires submitted after these times will be sent the next business day.

All wires are guaranteed funds. Once they are sent out, there is almost no chance of having the funds returned unless the receiving party agrees to the return. Please note: Happen Bank follows a two-step confirmation process before initiating the transaction.

We can initiate wires by phone if you don’t have the option in your account. Currently, we are unable to initiate wires by web chat.

### Additional Money Out FAQ

- [How do I send domestic and international wires? Are there fees or limits?](https://www.happen.com/help/checking-accounts-faq/how-do-i-send-a-domestic-and-international-wire-are-there-fees-or-limits-2)
- [How do I initiate an external transfer?](https://www.happen.com/help/checking-accounts-faq/how-do-i-initiate-an-external-transfer-3)
- [How do I withdraw from my account?](https://www.happen.com/help/checking-accounts-faq/how-do-i-withdraw-from-my-account-2)
- [Can I send a same-day wire, cancel a wire, or initiate a wire by phone?](https://www.happen.com/help/checking-accounts-faq/can-i-send-a-same-day-wire-cancel-a-wire-or-initiate-a-wire-by-phone-3)

Calculate your LevelUp Savings

Starting balance  
$25,000

Contribution Amount

How long do you plan on saving?  
Years  
Months

Annual Percentage Yield  
Contribution frequency  
- Weekly  
- Bi weekly  
- Monthly

You could have  
$47,100  
in your deposit account in  
5  
years, based on your inputs.

Savings breakdown updated. Bar chart showing Initial deposit 25000 and Total contribution 15000 and Dividends earned 7100

Savings breakdown  
$60K$60K$40K$40K$20K$20K$0$0

Initial deposit  
Total contribution  
Dividends earned

Initial deposit data points: Point 1: 25000. Total contribution data points: Point 1: 15000. Dividends earned data points: Point 1: 7100

Disclosure

Calculators are provided for illustrative purposes only. The results of the savings calculator are determined based on your input values. The results vary based on any changes to the input values. The savings calculator results are, in part, determined by the Annual Percentage Yield (APY) input. The APY is consistent with the current rate offered by Happen Bank. Rates are variable and subject to change at any time. Fees may reduce earnings on account. With the minimum deposit you will earn the LevelUp rate, otherwise you will earn the standard rate. For more details about LevelUp Savings see [Product Terms and Conditions](https://www.happen.com/legal/deposits/personal-products-terms-and-conditions).