International money transfers in the US (Sending & Receiving)

Transferring money internationally while living in a new country can be a challenge. This guide is here to help.

We’ll look at all of your available options for making international wire transfers from the US, including local banks, online services, mobile banking, and foreign exchange brokers.

International wire transfers in the US 🇺🇸

As more and more people travel, work, study and live overseas, international payments are becoming a fact of life for many. According to the World Bank, the value of remittances sent from the US to other countries annually exceeds 100 billion USD – and is on the rise.

The main transfer methods available in the US include:

• Overseas payments with specialist services
• International bank wire transfers
• Payments made with mobile banking and online banking
• Cash transfers through third party services
• Foreign exchange services via specialist brokers

Whether you need an instant international money transfer, or are looking for the cheapest way to safely send your payment, there’s an option out there for you.

However, you’ll need to invest a bit of time deciding how to process your payment to compare secure transfer services on costs, convenience, timeframes and availability.

Online international money transfer services in the US

Online transfer services are popular among many expats in the US as they’re easy, quick, low-cost, and convenient.

You can register, send money and track your payments with nothing more than your phone or laptop – and no need to go to a physical branch or store to get your money moving.

Many online international money transfer app services also offer instant or fast transfers, competitive fees, and can often better exchange rates than banks can.

This makes them an attractive option even for large payments. Some major online transfer providers operating in the US include:

• Wise
• CurrencyFair
• XE Money transfer
• Remitly

Each online international money transfer service has its own features and fees, which may mean it’s more attractive to a particular type of customer, or for specific payment types.

When selecting a money transfer service in the US you’ll want to pick one which is properly licensed and regulated – usually by the Financial Crimes Enforcement Network (FinCEN) and state level licensing agencies.

It’s also important to compare both upfront fees and exchange rates against mid-market rates to make sure you get a good deal – we’ll look at this in more detail in a moment.

🌍 How to send money with an online money transfer service 📌

The exact process to send money using an online money transfer service in the US depends on the provider you select. You will be able to get everything sorted with a phone or laptop, and send your payment without needing to visit a branch or hand over any cash.

Generally, the process looks like this:

1. Register an account with the provider and get verified: You will normally need to provide information like your name, date of birth, and email, and complete identity verification by uploading an image of your ID document and entering your SSN.
2. Check and compare the exchange rate and fee: Many providers offer instant exchange rate and fee quotes which you can get online or in app – compare this with other providers to make sure you’re getting a good deal.
3. Enter the transaction details: Once you’re happy with the rate and fees you can enter the amount to send, the currency to be received and any other required detail like transfer speed preference.
4. Provide recipient details: If your money is being deposited to your recipient’s bank account you’ll be prompted to add their name, bank account number and other information depending on the destination country.
5. Make payment: Many providers have various methods of payment available including using a card, bank transfer or wallet like Apple Pay. Once your transfer is funded, it’ll be on the way to the recipient.

Different online transfer services have their own delivery methods which usually include bank deposits but may also allow you to send money to an eWallet or for cash collection. Your provider is likely to also have a tracking system so you can keep an eye on your money as it moves through the system for peace of mind.

💰 Fees for international transfers

When you send a payment overseas you may find you pay the following:

• Transfer fee – this is usually clearly stated by the provider, and may be a flat fee or may vary on the transfer type
• Exchange rate markup – this is a percentage fee added onto the rate used for conversion which can be harder to spot
• Third party fees – paid to intermediaries, these fees are less common when using online services compared to banks, but may still creep in

Exchange rate markups can often be the highest of all these costs – and the hardest to see. If a provider uses a 3% markup, you’ll pay 30 USD more on a transfer of 1,000 USD than you would with a provider using the mid-market rate. Or 300 USD if you’re sending 10,000 USD – this can very quickly mount up when sending high value payments.

To give an example, here’s a quick comparison of a couple of specialist companies, against an US bank, Chase.

In this example we’re sending 1,000 USD to be received in EUR:

Provider	Fee	Exchange rate	Recipient gets
Wise	5.48 USD	1 USD = 0.859808 EUR	855.10 EUR
Currencyfair	3 EUR	1 USD = 0.8548 EUR	851.8 EUR
Chase	5 USD	1 USD = 0.832772 EUR	828.61 EUR

As you can see, in this example, the recipient would get more with Wise or Currencyfair.

Both have a better exchange rate compared to the bank we profiled on this comparison, which means that even though there’s still a transfer fee to pay, the better rate means there’s more for the recipient in the end.

Wise exchange and transfer fees cost are from 0.57 (of amount being sent), while Currencyfair has a flat transfer fee of 3 EUR and a rate markup which is on average 0.53%.

Be sure to watch out for companies with low fees but high exchange rates, as you’ll almost always find they’re more expensive than picking a provider which uses the mid-market rate or as close as possible to it.

International money transfers in the US with local banks

Sending international wire transfers in the US with local banks is an obvious, and a very secure option – but not necessarily the cheapest. Banks are not specialists in wire transfers and can have higher overall costs compared to online providers – plus you may find you need to call or visit to arrange your transfer which may not be convenient.

Banks in the US are usually covered by the FDIC (Federal Deposit Insurance Corporation), which protects deposits of up to 250,000 USD per account holder, per bank. This can be reassuring, but you may also find limitations compared to specialized transfer companies, including higher fees, and longer processing times.

Bank transfer methods vary – you may be able to arrange your payment in-branch, by phone, or using the bank’s online banking, website, or mobile app.

Generally you’ll need to get full banking information from the recipient to process your payment including their account number or IBAN and their bank’s SWIFT code.

SWIFT transfers sent overseas with banks can typically take a few days to arrive, up to 1-5 working days in some cases, depending on the destination.

Costs of international wire transfers in the US

Sending bank transfers overseas can be one of the more expensive options open to you thanks to relatively high exchange costs in most cases.

In the end the cost you pay depends on your own bank and may be influenced by transfer amount, destination, currency, hidden costs in exchange rate, and any additional fees which apply as the payment is processed.

To give an idea, here’s our earlier example of sending 1,000 USD to be received in EUR, this time with major US banks only:

Bank	Fee	Exchange rate	Recipient gets
Bank of America	0 USD	1 USD = 0.836305 EUR	836.30 EUR
Wells Fargo	0 USD	1 USD = 0.833416 EUR	833.42 EUR
Chase	5 USD	1 USD = 0.832772 EUR	828.61 EUR

When sending a bank to bank wire transfer it helps to know that there can be fees imposed by both sending and receiving banks.

There are also often extra fees added to the exchange rate used when you convert funds for your payment – choosing a provider which uses the mid-market rate with no markups like can help you get a better deal in the end.

Some specialist providers also offer promotional rates when you first sign up with them.

How long do international bank transfers in the US take?

The length of time it takes for a bank to process an international payment depends on various factors including the recipient’s country and currency, and the payment value.

Bank of America and Wells Fargo both state it can take 1-5 business days for your money to be received, with some possible delays if processing times fall on weekends or holidays at home or in the destination country.

High value payments may need additional verification which can also cause delays, so do check with your bank if you’re sending a larger amount.

How to make an international money transfer in the US with a bank 🏦

You may be able to send money overseas with your bank in-person, by phone, or through their website, or mobile app. In some cases you’ll need to send high value payments in person or by phone, as digital payments may have low maximum limits.

If possible, though, sending your payment with your phone or laptop is usually the easiest option.

💡 Here’s how to make an international money transfer in the US with a bank online or in the mobile app:

1. Log into your mobile or online banking and navigate to the international transfer page
2. Follow prompts to provide the required information:

• Sender details
• Recipient’s Bank Name and Address
• Recipient’s complete name
• Recipient’s IBAN or account number
• Recipient’s Bank Swift/BIC Code
• Transfer amount
• Currency

3. Your payment will be sent once you’ve completed the authorization step, which may require an OTP or other security verification

Bear in mind that additional information may be required for sending large amounts or for compliance purposes. This is usually needed when you’re asked to prove the source of the funds you’re sending.

If you’re sending money from your salary you may be asked to provide payslips or your employment contract for example, or if you’re repatriating funds from the sale of a property you could be asked for proof of the sale. Your bank will guide you about what’s needed so you can explore your options.

How to receive an international money transfer in the US with a bank 🏦

Receiving a bank transfer from overseas to your US bank usually requires very little effort as all the administration is handled by the sender.

You’ll need to give the sender some important information such as your bank name, account number and SWIFT code, and your complete name as shown on your account. You can find a SWIFT code using online tools if you’re not sure what yours is.

When you receive a payment to a USD account from abroad, the money is automatically converted to US dollars to be deposited. This may not be convenient if you’d rather keep a foreign currency balance for future use.

In this case you may like Wise’s local account details feature for receiving payments in foreign currencies without automatic conversion. Get paid like a local in 8+ currencies and decide for yourself how and when to convert your money with no obligation.

International wire transfers via online and mobile banking in the US

💡 Most local banks in the US now offer online and mobile banking and transfer options. Digital only providers like Wise and Revolut may offer a more convenient service with lower overall costs and better exchange rates.

While there are US digital only banks like Ally Bank and Chime which both have relatively low fees, they may not offer international transfers. Neither Ally or Chime have this service at the time of research.

⚠️ If you choose to use your local banks’ mobile app you can usually make an international transfer which may have no upfront transfer fee. This may look like it’s cheaper than transacting in a branch, but don’t forget that exchange rate markups will still usually apply, which means your transfer isn’t free – and can end up more costly than choosing a specialist provider.

Whether you’re using a specialist provider or your bank’s mobile service, look out for additional security features you can use like fingerprint or face recognition for 2 factor authentication, full encryption, and instant card blocking.

Sending money abroad without a US bank account

If you need to send a payment to someone who doesn’t have a bank account – or you don’t want to use your own bank to arrange the transfer – you may consider using a provider like Wise, Western Union, or MoneyGram.

With these services, neither sender nor recipient needs a bank account and payments can be made very quickly. If you’d like to use Wise, the recipient can open a Wise Account to receive payments in 20+ currencies with account details including major currencies like USD, EUR and GBP.

Also with Western Union or MoneyGram you can send and receive payments in cash using the provider’s agent network around the world.

Both of these options can be convenient and quick – but it’s worth knowing that transfers which deal in cash have higher labour costs which can mean paying more and meeting exchange rate markups when you transfer.

Foreign exchange brokers in the US 💱

You could also choose to send money overseas using a dedicated forex broker which has a specialization in buying and selling currency. In this case you’d need to deposit funds to the broker’s account, before they can conduct the currency exchange, and arrange the international transfer for deposit to your recipient.

With a foreign exchange broker you might find you can get free transfers with good exchange rates, while benefiting from 24-hour support, and currency advice.

However, providers may only work with higher value transfers, and fees do still normally apply somewhere along the line.

Take a look at services like OFX and TorFX as a starting point, and check out online comparison tools to help you find the best rates available on your specific payment.

How to use a foreign exchange broker 💱

Here’s how to use a foreign exchange broker in the US:

1. Register an account with the provider and get verified: Register online, in app or by phone and get verified by providing your ID document and SSN.
2. Get a quote for the exchange rate and fee: Your broker will be able to tell you how they can help and give you a no obligation quote for your transfer.
3. Make payment: Send the money to your broker, often using a bank transfer
4. Provide recipient details: Tell your broker the recipient’s name, bank account number and other information depending on the destination country.
5. Conversion and payment: The broker will convert your funds and send them to your recipient for deposit to their bank.

Useful resources

Information last checked 15th of January, 2026

• Financial Crimes Enforcement Network (FinCEN) – US financial regulator
• FDIC (Federal Deposit Insurance Corporation) – Insurance for depositors with eligible US banks
• Bank Rate – Compare different bank accounts and offers
• SWIFT code finder – get a SWIFT code for global banks
• Wise high value payments – Learn about Wise volume discounts on high value transfers
• Wise personal pricing
• Chase international wires