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The easiest way to handle it is to have your contractor submit an invoice. You can then 'wire transfer' the invoice amount into their account. The bank charge is usually about 20.00 (or more) depending on the amount of your banking relationship with that bank.
This is the way I handle it.
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A wire transfer is a same day transfer and is pretty expensive as indicated.
An alternative may be to set up ACH payments which usually arrive in the recipient's account overnight. This is how employee direct deposit typically works. They are much cheaper. They may be able to be done through your bank's online services or your accounting software. In addition, you can find many online services that will do the transactions for you. Obviously, beware of rip offs, but there are a number of legit outfits. Depending on your set up, you may only have to pay 50 cents to a couple dollars. Clearly this is more palatable than a wire if the relationship will require frequent payments to the contractor.
This is great advice!! Thank you!!