Best way to receive money from abroad in the US 

For many expats and internationals living in the US, receiving money from abroad is part of everyday life. Salary payments, family support, or moving funds between accounts might often involve high fees and slow processing times.

This guide compares the best ways to receive money in the US, focusing on safety, cost, and ease of use, so you can make an informed choice. With Wise, you can receive payments in multiple currencies at the mid-market exchange rate and avoid the hidden markups banks often add.

What you need to know before receiving money from abroad

When money is sent across borders, the amount you actually receive can depend on more than just the transfer itself. Fees, exchange rates, and processing times all play a role, as do the requirements for identification and the level of protection offered by the provider. 

We’re comparing two popular providers for receiving international payments, Wise and PayPal, showing how these factors can vary in real life.

Key factors to consider

Key points:
Transfer fees	Bank wire transfers often involve higher charges, sometimes deducted by intermediary banks along the way. Multi currency accounts like Wise, allow you receive many currencies for free or at low costs in most payment methods.
Exchange rates and margins	Some providers, like Wise, use the mid-market exchange rate while others add a conversion margin on top of their fees.
Processing speed	Transfers can take anywhere from seconds to several days depending on the chosen method.
Documentation	Most providers will need you to verify your identity when you set up your account.
Security & regulation	Look for providers that are properly licensed and regulated. PayPal is licensed as a money transmitter and uses 24/7 fraud monitoring and banks are strictly regulated and implement high-level security via measures like multi-factor authentication and advanced encryption.

Information checked on 26th August 2025

What information is needed to receive money

Waiting on a payment from abroad? The exact details you need to share can depend on the country the money is coming from and the method your sender chooses. Getting these right is key to making sure the transfer reaches your account quickly and without extra complications.

You’ll usually be asked to provide the following information when receiving money into a US bank or multi-currency account:

1. Your full name and address as they appear on your bank or provider account.
2. Your bank name and branch address.
3. Your account number
4. A routing number (ACH/ABA) or a SWIFT/BIC code, depending on the transfer type. Routing numbers are used for domestic transfers within the US, while SWIFT codes are used for international payments.
5. A payment reference or purpose for the transfer is also sometimes requested.

Best ways to receive money from abroad

There are several ways to receive money from abroad when you live in the US, each with its own costs, speed, and level of convenience. Below is a quick overview of six of the most common methods, followed by more detail to help you decide which option works best for you.

	💡 At a glance
Multi-currency accounts	Accounts from providers like Wise let you receive payments in 20+ currencies with account details and no hidden exchange rate markups. USD wires cost a small fixed fee, but local transfers in most currencies are free to receive.
Bank wire transfers	Major US banks such as Chase or Bank of America allow incoming international payments directly to your account. Reliable for large amounts, fees cost around 15 USD, and transfers often take 1–5 business days.
Online money transfer services	Specialists like Wise online can route payments quickly and at lower, more transparent cost than banks. Many transfers arrive instantly or within 24 hours, and limits are generally higher than wallets.
Digital wallets	Providers such as PayPal make it easy to receive money online and then spend directly or withdraw to your bank account. Transfers are usually instant between wallets, but fees can reach 3–4% if you convert or withdraw funds.
Cash pickup services	With companies like Remitly or Western Union, senders can arrange for recipients to collect cash in minutes at thousands of US locations. Receiving is usually free, but the sender may need to pay a higher fee.
International money orders	Offered by providers such as MoneyGram, money orders allow funds to be mailed and cashed at banks or post offices. While it is a good secure and prepaid option, processing can be slow and limits can be low.

Multi-currency accounts (like Wise, and Revolut)

💡 Great for: Expats, freelancers, and anyone who needs to receive flexible, low-cost payments in USD and foreign currencies without losing money to poor exchange rates.

Multi-currency accounts let you get local account details in foreign currencies, this way the sender can use local payment methods to send you money, helping you avoid unnecessary conversion fees. Instead of being forced into a costly exchange with a marked-up rate, you can hold balances in currencies like USD, EUR, or GBP until you are ready to convert them.

Providers like Wise give you local account details for 8+ major currencies, including USD, EUR, and AUD, so you can receive money conveniently.

Wise also supports receiving international payments via SWIFT in 20+ currencies, with a small fixed fee for wires and SWIFT payments (6.11 USD, fixed fee per transaction).

PayPal also allows you to hold balances in multiple currencies, although exchange rates usually include an additional margin and conversion fee.

Key points:
Typical fees	Some providers let you receive money fee-free in certain currencies, while others add fixed fees for wires or conversion. For example, Wise lets you receive payments in 8+ currencies using local account details, with small fixed fees for USD wires and SWIFT payments.
Processing times	Transfers are usually fast, with many arriving the same day. Revolut, for instance, processes transfers between users instantly and 60%+ of Wise transfers arrive in under 20 seconds.
Exchange rate	Some providers and banks might add a variable markup as a hidden fee on the exchange rate. Wise applies the mid-market exchange rate with no mark-up on the exchange rate.
Limits	Account limits differ by provider and account type. Wise customers can receive up to 20 million USD per day or 35 million USD per year.
Safety	Digital providers like Wise and Revolut use advanced security features like encryption and two-factor authentication.
Supported currencies	These accounts are built for global use, often supporting dozens of currencies. Revolut supports holding and exchanging 25+ currencies, Wise customers can hold up to 40+ currencies while PayPal users can hold and convert balances in 25+ currencies.

Bank wire transfers

💡 Great for: Large transfers, one-off international payments, or when both sender and receiver prefer using a well-known, reputable bank.

Bank wire transfers are one of the oldest and most established ways to receive money from abroad. Payments move through the SWIFT network, which often involves intermediary banks between the sender’s bank and your own. Each bank in the chain may deduct a fee, making it hard to know the final amount you’ll receive until the transfer arrives. Wires are usually reliable but can be expensive and take a few days to clear.

The main advantage of bank wires is convenience. If you already have an account with a major US bank like Chase or Bank of America, you can receive funds directly into your existing account without opening anything new. Banks also provide in-person support through branches, which can be reassuring if you prefer speaking to someone face-to-face.

Key points:
Typical fees	US banks charge around 15 USD for incoming international wires, but additional fees may apply from intermediary banks.
Processing time	Usually 1–5 business days, but delays can occur if multiple intermediaries are involved.
Exchange rates	Banks often apply a margin to the exchange rate, which increases the overall cost.
Limits	Limits depend on the bank and account type. Some banks set daily or monthly maximums for incoming wires.
Safety	Bank transfers tend to be very safe and secure, with banks employing strong security measures to verify identities and prevent fraudulent transactions.
Supported currencies	Most major US banks can receive international wires in USD and convert a wide range of foreign currencies.

Online money transfer services (Wise, Western Union)

💡 Great for: Fast and low-cost ways to receive and manage international payments in USD and additional currencies entirely online.

Online money transfer services connect senders and receivers directly, without the need for bank intermediaries. They usually offer lower fees and better exchange rates than banks, making them popular for frequent international payments. Transfers can be fast, with many services delivering funds in minutes or hours instead of days. On the downside, you may need to set up an online account, and some services have limits depending on the country or payment method.

Wise uses the mid-market exchange rate with no hidden markups, and low transparent transfer fees. Wise offers automatic discounts on fees when you send larger amounts. Learn more about Wise large transfers here.

Another option, like Western Union, allows you to receive money in USD quickly, either to your bank account or as a cash pickup, though fees and exchange rate margins tend to be higher than digital-first providers.

Key points:
Typical fees	Fees vary depending on the provider, transfer route, and currency. Wise lets you receive 20+ currencies using account details, most currencies and payment methods are free to receive or have low transparent fees (6.11 USD fee for USD wires and SWIFT payments, and ACH payments are free to receive)
Processing time	Many services deliver funds quickly. Wise completes 60%+ of payments under 20 seconds and 90%+ within 24 hours, while Western Union offers instant to same-day time frames for many transfers.
Exchange rates	Wise applies the mid-market exchange rate with no hidden markups compared to Western Union, which sets its own rates and includes a margin above the market rate.
Limits	Providers set their own transaction caps but most usually offer higher, or even unlimited, transfer limits compared to banks, which tend to impose stricter limits.
Are they regulated in the US?	Licensed providers use strict security and fraud-prevention tools. Wise is registered with FinCEN and uses two-factor authentication and encryption, while Western Union operates under US money transmitter licenses and applies ongoing fraud monitoring.
Supported currencies	Online services support a broad range of currencies. Wise customers can receive money in 40+ currencies and Western Union supports transfers in 130+ currencies, including cash payouts in many countries.

Digital wallets (PayPal, Venmo, Zelle)

💡 Great for: Small international transfers, one-off personal payments, or those who value speed and convenience over lower costs.

Digital wallets store money electronically and let you send or receive payments using just an email address or phone number. They’re fast and easy to set up, often making them a go-to for casual or small transfers. In the US, PayPal is one of the most widely used options for international transfers, as popular services like Venmo and Zelle only support domestic transfers, meaning they can’t be used to receive money from abroad.

The biggest advantages of digital wallets are speed and convenience. Payments often arrive instantly, and you can use your balance directly for online shopping or withdraw it to your bank account. That being said, digital wallets usually charge higher fees and apply exchange rate margins, which can make them less cost-effective for larger amounts.

Key points:
Typical fees	Most wallets don’t charge to receive money into a balance, but fees often apply if you need to convert currencies or withdraw funds.
Processing time	Transfers between users of the same wallet (like PayPal to PayPal) are usually instant. Other transfers, such as moving money to your bank, can take several business days.
Exchange rates	Wallet providers often add a margin to exchange rates when you convert between currencies.
Limits	Transaction and withdrawal limits vary by provider. PayPal sets limits that vary by account, while other wallets may cap the amount you can send or withdraw each day.
Safety	Digital wallets are regulated and apply security measures such as two-factor authentication, encryption, and fraud monitoring
Supported currencies	PayPal lets you hold and convert balances in 25+ currencies. Other US wallets like Venmo and Zelle are popular, but only support USD within the US.

Cash pickup services (Western Union, Remitly)

💡 Great for: Those who don’t have a bank account, need money quickly, or live in areas where banking access is limited.

Cash pickup services let recipients collect money in physical cash from designated partner locations, such as supermarkets, convenience stores, or financial service outlets. Providers like Western Union and Remitly have extensive networks across the US, allowing recipients to collect money within minutes once the transfer is sent.

The key advantage is speed and accessibility, since recipients can pick up funds even without a bank account. Many people also find it useful in emergencies or when banking access is limited. However, fees are often higher than digital transfers, exchange rates include a margin, and carrying large sums of cash can present safety risks in itself.

Key points:
Typical fees	Recipients don’t usually pay to pick up cash, but sending fees can be high, as providers add charges and exchange rate margins.
Processing time	Often within minutes or a few hours of the transfer being sent.
Exchange rates	Both Western Union and Remitly apply a margin to the mid-market exchange rate.
Limits	Varies by provider and sending country.
Are they regulated in the US?	Services are regulated in the US and typically require the recipient to present valid ID and a transfer reference, but carrying cash may present risks.
Supported currencies	Western Union and Remitly both support over 100 currencies worldwide.

International money orders

💡 Great for: People who need a guaranteed payment method and prefer not to use bank accounts or digital services.

International money orders work much like a prepaid check. The sender purchases the order in their local currency, and the recipient cashes it at a bank or post office in the US. Because the funds are prepaid, money orders are considered secure and can’t bounce like a personal check. They’re often used when the sender or recipient doesn’t have access to online transfers or traditional banking.

Processing times can be slow, as the recipient needs to physically deposit or cash the order. Fees vary by country and provider, and exchange rates may not be as favorable as digital alternatives.

Money orders also carry risks of loss or fraud if they are mailed, which makes them less convenient for frequent transfers. Despite these drawbacks, they can still be useful for one-off payments where electronic options aren’t available.

Key points:
Typical fees	Vary by issuer and country.
Processing time	Slower than digital transfers; funds are available once cashed or deposited, which can take several business days.
Exchange rates	Often less favorable than mid-market rates, as providers tend to apply a margin.
Limits	Maximum amounts apply per order.
Safety	Prepaid, so funds are guaranteed, however, risks include fraud or loss in the mail.
Supported currencies	Availability depends on the issuing provider and country of purchase.

Step-by-step guide: How to receive money from abroad

Receiving money internationally can feel like a complicated process, but breaking it down into steps makes it easier to manage. Here’s how to go from choosing the right method to making sure the funds arrive safe and sound in your account.

Step 1: Choose your method

There are several ways to receive money in the US, including a bank transfer, a digital wallet, a multi-currency account, or even a cash pickup. Think about fees, speed, and convenience to pick the option that best fits your needs and talk it over with the sender before deciding.

Step 2: Gather required information

The details you’ll need depend on the method you choose. Bank transfers usually require your account and routing number, while digital wallets might only need your email address. Double-check everything carefully so the payment isn’t delayed.

Step 3: Share Details with sender

Provide the sender with the exact details they need, including your full name as it appears on your account and any relevant payment references. Clear communication helps ensure the funds arrive without a hitch.

Step 4: Track the transfer

Most banks and transfer providers now offer tracking options through their apps or websites. Keeping an eye on the transfer lets you know when the money is on its way and gives peace of mind that everything is moving as planned.

Step 5: Receive and verify funds

Once the payment arrives, check your account balance and transaction history. Confirm the amount matches what was expected, keeping in mind any fees or conversion rates applied. Once you’ve confirmed the details, the funds are ready to use.

How can I receive money safely?

It’s natural to feel cautious when dealing with international payments, especially if you’re waiting for a large transfer or rely on them for everyday expenses or family support. The good news is that there are simple steps you can take to make sure your money arrives securely and without unnecessary stress.

Start by using a provider that’s both regulated and trusted in the US. For example, Wise is registered with the Financial Crimes Enforcement Network (FinCEN) and safeguards customer funds separately from its own. PayPal is also licensed as a money transmitter in the US and applies encryption and 24/7 monitoring to protect your account.

A few good habits can make the process smoother:

• Check your details carefully before sharing them with the sender. A single mistake in your account or routing number can cause delays or failed transfers.
• Ask for confirmation or tracking information from the sender so you can monitor the payment’s progress.
• Enable two-factor authentication (2FA) and real-time alerts in your provider’s app. That way, you’ll know as soon as money lands in your account or if something looks suspicious.
• Stay alert to scams – if you get an unexpected message asking for financial details, it’s safer to contact your provider directly before responding.
• Keep contact details handy for your chosen provider, so you know who to call if something doesn’t look right.

What is the cheapest way to receive money?

The cost of receiving money from abroad often depends on the method you use and the route the payment takes. Bank transfers, for example, can involve hidden intermediary fees that are hard to predict, making it difficult to know exactly how much will arrive in your account. Fees can also change based on the amount sent, the sending country, or the currency involved.

Specialist providers like Wise make the process clearer. With Wise, you’ll always see the fees upfront before a transfer is made, and the money is converted using the mid-market exchange rate with no hidden markups. That means you can check the cost in advance and know exactly what to expect when the money arrives.

Tips to minimize costs when receiving money from abroad

• Compare exchange rates and fees: Even small differences in exchange rates or charges can add up, especially for larger transfers. Checking a few providers before confirming the payment helps you see which one leaves you with the most money in your account.
• Consider timing for better rates: Exchange rates fluctuate throughout the day and week. If your transfer isn’t urgent, you can sometimes save by choosing a moment when the exchange rate is stronger for your currency.
• Use services with transparent pricing: Providers like Wise show you all the costs upfront, including any conversion fee. Transparent pricing makes it easier to avoid surprises and gives you a clear idea of how much you’ll actually receive.
• Use a Wise multi-currency account: A Wise multi-currency account lets you hold over 40 currencies and receive payments with no Wise fee in 8+ major currencies using local account details. 
• Avoid unnecessary currency conversions: Whenever possible, receive funds directly in the currency they were sent in. For example, if your family sends EUR, you’ll often save money by receiving EUR into a multi-currency account and converting later when the rate is more favorable.

Common problems and how to solve them

Most international payments arrive without issues, but there can be occasional bumps along the way. Here are some of the most common problems you might face and how to resolve them quickly:

Transfer delays: International transfers can take longer than expected if intermediary banks are involved. Check the estimated delivery time with your provider and use tracking tools to monitor progress.

Missing payments: If a payment doesn’t arrive, confirm the details shared with the sender were correct and contact your provider with the reference number so they can trace the transfer.

Incorrect exchange rates: Some providers add hidden markups to the exchange rate. Always confirm the rate before the transfer is made and choose services that use the mid-market exchange rate with transparent fees.

Documentation issues: Transfers may be held up if ID or account information is incomplete. Make sure your details are up to date and respond quickly to any requests for additional documents.

Conclusion 

There are many ways to receive money from abroad in the US, and the right choice depends on what matters most to you. If speed is your priority, an online transfer or digital wallet might work best. For larger sums, a bank transfer or multi-currency account can offer more reliability and better value.

A Wise multi-currency account is one option worth considering, giving you local account details to receive money in 8+ currencies, and access to 40+ currencies to hold and convert at the mid-market exchange rate.

Looking for the method that fits your needs? Explore your options today and find the safest, most cost-effective way to receive your money from abroad.

FAQs

How long does it take to receive money from abroad?

The time it takes depends on the method you choose and where the money is coming from. Online services can deliver transfers pretty much instantly in seconds or minutes, while international bank wires may take 3-5 business days if intermediary banks are involved. 

What’s the cheapest way to receive payments from overseas?

In many cases, you won’t pay to receive money, but the costs may be covered by the sender or taken out during the transfer. To keep expenses low, compare providers that are upfront about their pricing and exchange rates. A Wise multi-currency account is one option, letting you receive 8+ currencies with local account details and convert at the mid-market exchange rate.

What information do I need to provide to the sender to receive money?

At a minimum, you’ll need to share your full name as it appears on your account, your account number, and the bank’s routing number or SWIFT code. Some providers may also ask for your address or a payment reference. Double-checking these details before sending them reduces the risk of delays or failed transfers.

Is it safe to receive money from abroad?

It’s safe to receive money from abroad as long as you use a reputable, regulated provider, like Wise, which uses robust security measures such as encryption, 2-factor authentication, and ongoing transaction monitoring. You can also add a layer of safety by keeping your account details secure, enabling payment notifications, and tracking your transfers until the funds arrive.

Useful resources

• Wise – Learn how to receive payments in multiple currencies with local account details and transparent conversion fees (checked August 2025).
• PayPal – Overview of PayPal’s US fees for domestic and international transfers (checked August 2025).
• Venmo – Help Center – Information on sending and receiving payments within the US. (checked August 2025).
• Zelle – Use Zelle for instant domestic payments between US banks. International transfers are not supported (checked August 2025).
• Western Union – How to receive money with Western Union (checked August 2025).
• Remitly – Options for recipients including cash pickup and bank transfers (checked August 2025).
• Chase – Wire FAQ –Details of how to send and receive wire transfers with Chase (checked August 2025).
• Bank of America – Information on wire transfer fees for receiving domestic and international wires at Bank of America (checked August 2025).