Wire transfers are one of the most expensive services from banks.
Wire transfers are one of the most expensive services from banks.

A wire transfer from your bank is one of the quickest ways to send and receive money both within the United States and throughout the world. MyBankTracker compared fees for domestic and international wire transfers at the top U.S. banks to help you save when wiring money.

Due to the extremely high speed of these transactions, wire transfer fees tend to be much greater than any other money transfer method. It also eliminates the possibility of scams that often involve the checks, which can take some time to clear. Here is a detailed comparison of the domestic and international wire transfer fees charged by the largest U.S. banks:

Wire Transfer Fees at Top Banks

BanksDomestic IncomingDomestic OutgoingForeign OutgoingForeign Incoming
Bank of America$15$30$45$16
Wells Fargo$15$30$40$16
U.S. Bank$20$30$50$25
Capital One$15$25$50$15
PNC Bank$15$30$45$15
TD Bank$15$25$40$15
SunTrust Bank$15$25$50$30
Citizens Bank$10$15$30$15
Fifth Third Bank$15$15$15$15
Regions Bank$15$25$45$15
M&T Bank$16$32$75
BBVA Compass$15$25$45$15
BMO Harris Bank$0$25$45

How Much Does It Cost To Send A Wire Transfer?

According to MyBankTracker’s October 2016 analysis, international wire transfer fees are becoming slightly more expensive — with Chase, Bank of America®, and BB&T increasing their fees.

At any given bank, incoming wire transfers tend to be considerably cheaper than for outgoing ones, while domestic wire transfer fees are significantly lower than that of international transfers.

The highest wire transfer fee is $65 for each outgoing foreign wire transfer at BB&T Bank while the lowest fee for any type of a wire transaction is $15 — which is the amount charged by a majority of banks for both domestic and foreign incoming wire transfers.

Ways to get discounts on wire transfer fees

Note that the fees shown in the table above are reflective of transfers made in person at a branch and outgoing transfers sent in U.S. dollars.

This is noteworthy because the fee for foreign outgoing wire transfers sent in U.S. dollars is not the same as transferring money in foreign currency. Some banks — including Bank of America®, Wells Fargo, Chase Bank and Capital One — will charge $5-$10 more if transfers are made in a different currency.

In general, banks will charge you $5-$10 less for making a wire transfer online through the bank’s website rather than in person at a branch. In the case of Chase Bank, you will be paying $5 less for all outgoing wire transfers made through Chase.com, while Citibank will give you a $10 discount on all outgoing wire transfers made online.

If you plan to send money on a regular basis, either in the U.S. or overseas, you can set up repetitive wire transfers, which will give you a $5 discount on each item transferred. For instance, Wells Fargo offers domestic outgoing wire transfers at $30, but if you set up the repetitive wire transfer, each transaction will cost you $25.

For a better deal on wire transfers, it is best to ask your banker for different options for wiring money. Be careful with conducting a wire transfer through the phone, it is likely to cost more than a typical wire transfer.

What you need to perform a wire transfer

A typical wire transfer can be completed in a branch with a banker, on the phone, or through online banking. You’ll need several key pieces of information before you begin:

  • Bank name and address
  • Account number and routing number
  • SWIFT Code

Generally, a wire transfer can take just a few minutes to complete. But, be prepared for it to take up to 24 hours, especially if you’re wiring funds internationally.

Accounts eligible for wire transfers

Not every single account at a bank is capable of sending and receiving wire transfers. Generally, a wire transfer is conducted through a checking account. It is also possible through a savings accounts and money market account if your bank allows it.

Typically, wire transfers are not allowed through certificate of deposit (CD) accounts.

Domestic vs. foreign wire transfer

Domestic and foreign wire transfers differ more than just in fees. A domestic wire transfer is a way to electronically transfer funds between two bank accounts or to transfer cash within the U.S. — while foreign wire transfers will move your money anywhere in the world. This is why foreign wire transfers tend to cost significantly more.

Domestically, the cheapest way to wire money is pretty straightforward — it’s usually a flat rate regardless of the amount transferred.

Foreign wire transfers

It is a bit more complicated when it comes to foreign wire transfers, also known as remittance transfers. This type of transfer is commonly used to send money to family members in foreign countries.

Foreign wire transfers take many consumers by surprise when they find out that the recipients have received less money than originally sent.

Currently, at the 10 largest U.S. retail banks, foreign wire transfers range from $40 to $65 per transfer. This amount depends on whether the transfer was conducted in-person or online, and sent in U.S. dollars or in foreign currency.

In addition to the transfer fee, senders should be aware that foreign wire transfer fees also come with additional charges they must consider — including an exchange rate, taxes, and correspondent fees. The wire transfers will be made under the currency exchange rate set forth by the bank, which is likely to be higher than the actual exchange rate. As a result, the recipient gets less money than expected. This exchange rate difference is another way that banks make money from foreign wire transfers.

Tip: To determine the best value, you should consider both the wire transfer fees and the exchange rate. The exchange rate can cut into the amount you are sending and depends on how strong the dollar is.

Rules and regulations

To prevent this unfair practice and to make the process more transparent, the Consumer Financial Protection Bureau (CFPB) created this regulation, which took effect in February 2013. It ensures more clarity in how the exchange rate is handled and presented to customers in the U.S. by all financial institutions.

Although the exact rate applied in the transaction will be unknown until the wire transfer is actually initiated, the consumer will be presented with useful information including the fees, exchange rate and net funds to be delivered, before completing the transaction.

When wire transfers are cheaper elsewhere

Many people turn to banks to wire transfer money, but depending on the type of transaction, other money transmission providers may be able to provide the same service at a better price — although there is no single method that is definitively cheaper than others.

Money transmitters, for example, usually impose foreign transfer fees based on the recipient’s location, the amount transferred, and delivery time. That differs from banks and credit unions, which usually charge a flat fee. Popular money transmitters include Western Union and MoneyGram.

Transfer amount will affect fees

The size of the transfer makes a difference. Because the domestic wire transfer fees from banks tend to be a fixed amount, it may be better to use banks for large domestic wire transfers. Money transmitters will charge a fee that is a percentage of the transferred amount — so a larger transfer means a higher fee.

Tip: Using a money transmitter can be especially advantageous for transferring amounts that are less than $1,000. Going to a bank is a better idea when you are transferring larger sums of money, usually between $1,000 to $5,000, because there’s just a flat fee to worry about.

Wire transfers at credit unions

Many people are aware of the fact that wire transfer fees are actually cheaper at credit unions than at banks — a lot cheaper. In fact, many credit unions don’t charge a fee for incoming wire transfers — both domestic and foreign.

According to an analysis by MyBankTracker, the average fee for an incoming domestic wire at the 10 largest credit unions was $4.80, compared to $15 at banks, while outgoing domestic wire transfers cost an average of $17.30, compared to $26.40 at banks. The average fee for outgoing foreign wire transfers at the top 10 credit unions was $36.22, versus the average of $47.50 at the top 10 banks. The average costs of incoming foreign wire transfers at credit unions were $12.40 per transfer, compared to $17.50 at banks.

Credit UnionsDomestic - IncomingDomestic - OutgoingForeign - IcomingForeign - Outgoing
Navy Federal Credit UnionFree$14Free$25
State Employees Credit UnionFree$6Free$10
Pentagon Federal Credit Union$20$20$30$30
Boeing Employees Credit UnionFree$25Free$35
SchoolsFirst Federal Credit UnionFree$20FreeN/A
The Golden 1 Credit Union$8$23$8$40
Alliant Credit UnionFree$25Free$50
Security Service Federal Credit Union$15$15$61$61
Star One Credit UnionFree$20Free$30
San Diego County Credit Union$5$5$25$45

Essentially, all of the wire transfer methods will provide you with the same service — the deciding factor here will be accessibility and the cost. If you’re someone who needs to make wire transfers regularly, it might not be a bad idea to consider switching to a credit union.

Beware of wire transfer scams

Wire transfers are commonly used by scammers to collect money from unsuspecting victims. These transfers are capable of moving a lot of money in just minutes. Furthermore, once the money is wired and collected — especially internationally — it can often be very difficult to retrieve.

The typical case involves a false promise of a large payout or “prize.” In order to receive this large sum of money, you’ll first have to wire money to help pay for “processing fees” or some other kind of upfront cost.

Another common wire transfer scam will target people who are selling goods. Prospective buyers will offer to send a check for an amount that is much larger than that of the cost of the sold item. The fake buyers will then request that you go ahead and deposit the check anyway. You will be asked to wire transfer the difference minus any wire transfer fees. Later, you’ll find that the check bounced. By then, you might have shipped the item and made the wire transfer.

Because of how common these scams are, don’t be surprised if your banker asks several questions about the purpose of your wire transfer. He or she may help prevent you and others from becoming victims.

What is your cheap way of sending money to someone? How does it compare to bank wire transfers? Share your answers by leaving a comment below.

Frustrated with your bank? Check out these new top banks that people are talking about:

Related: See MyBankTracker’s Best Banks Picks of the Year

Did you enjoy this article? Yes No
Oops! What was wrong? Please let us know.

Ask a Question

  • Theresa Kim

    What is your cheap way of sending money to someone? How does it compare to bank wire transfers? Share your answers here.

    • Lori Ferrani

      $65 fee?! Geesh! I heard that Credit Unions actually charge less. Is this true? And as for domestic transfers, PayPal is FREE.

      • Theresa Kim

        It’s true! Check out the wire transfer fees at the top 10 credit unions here: http://www.mybanktracker.com/news/2014/05/13/wire-transfer-fees-top-10-credit-unions-spring-2014/

        • Ed B

          PEOPLE: there are two primary bank transfer products at most all banks… ‘wire’ and ‘ACH’. They will charge $15 – $50 for a wire but usually ACH is free or perhaps 25 cents. ACH is a domestic electronic transfer. Wire can be domestic or international. So, next time you need to send money from or into your bank (domestically in the USA), just ask that it be ACH instead of wire. Its that simple. The banks just have no incentive to tell you!

    • GCT

      I use bitcoin, which costs around 3 cents per transaction, both domestically and internationally. However, if I want to convert back to local fiat currency, I will face additional costs and delays. Fortunately, I usually don’t convert back to fiat.

      • Theresa Kim

        That’s great! The fact that it costs 3 cents per transaction is unreal! Thanks for sharing your awesome method of sending money both domestically and internationally.

        • endmathabusenow

          A difficulty with bitcoin is that it is not really a currency and fluctuates in value. Today bitcoin as varied between $232.13 and $246.14. Over several days the variations can be much higher–between slightly less than $220 and slightly more than $260.

          The trick is to be able to do the bitcoin transaction without holding bitcoins for long. This method may not last for more than a few more years if that–as bitcoin transactions are artificial cheap because the expensive verification process is paid by minting new coins and bitcoin exchanges likely due transactions at below costs because they end up holding the extra bitcoins expecting future appreciation.

        • endmathabusenow

          If the person who did the bitcoin transaction is still holding the bitcoins from 4 months ago– unless his alternative currency crashed, he likely lost at least 20% in dollars as the price then was over $300/bitcoin and is now about $240/bitcoin.

    • Mat Schaffer

      For US domestic, I have BillPay mail a paper check. Which they can usually photo deposit for free. Antiquated, but cheap.

      For international Charles Schwab has fairly low wire fees ($25 international) and no fees on international ATM withdraws. So if you can find a Plus network no fee ATM in another country (e.g., Japan Post ATMs) you can move money between personal accounts for free up to your daily ATM limit.

      So far Japan Post domestic transfers seem to be between ¥200-¥800 which isn’t expensive enough to warrant a big search for cheaper means yet.

    • Brandon

      There are online money transfer solutions, such as Transferwise, Currencyfair or Paysera. Depending on the destination, I one of these options to get lower fees. The latter also has a flat fee for transferring money to a foreign bank account.

      • Simon Zhen

        These companies are definitely getting more exposure these days (I see actual advertisements for them in NYC).

        I think it will take quite some time for people to gravitate towards these online money transfer outfits when they are so used to using brick-and-mortar businesses for these services.

  • Peter Bennett

    Incoming or outgoing, you’re going to pay, but it’s good to know you can soften the blow by going online to execute the transaction. Thanks for bring this information to my attention.

    • Theresa Kim

      My pleasure Peter! Those $5 to $10 discounts do make a difference.

      Many banks offer discounts on certain bank fees when the request is made over the phone or online — like stop payment, wire transfer and etc. Make sure to check with your bank if they offer tiered pricing on a given.

      Thanks for the comment!

  • Lad_22

    I am a customer at HSBC USA and recently received an international wire transfer from my client’s bank, HSBC UK. I was charged $25 by the sending bank, HSBC UK, plus they charged the client a fee to send the wire. How can HSBC UK charge me when I’m not their customer? Is there any way to avoid this?

    • Simon Zhen

      What HSBC checking account do you have? The incoming wire transfer fee varies by the account. In any case, you should not be paying $25 since I see that the fee is either $12 for HSBC Advance checking or $15 for HSBC Choice Checking and Basic Banking.

      I’d take it up with HSBC USA to inquire on why you were charged more than you should have.

    • sophia

      This exact situation happened to me and I am having NO luck trying to get sense out of HSBC (UK or US). I wired money from my normal HSBC UK account to my HSBC US Advance account and had it confirmed that the outgoing wire had no fees and a good exchange rate (HSBC UK are heavily advertising their low/no fees policy at the moment) but when the money arrived in my US account it was less $25. Neither bank are claiming the charges, but I struggle to see how HSBC UK could charge a $25 fee considering they generally deal in GBP. Another transfer initiated from the same HSBC UK account arrived in my US bank account less $12 this time, which is clearly indicated as a “FUNDS TRANSFER INCOMING FEE” in my statement. Good to know that it should only be $12 for incoming wires, but for now my struggle with HSBC customer service continues…

  • forthewinn

    Bank of America charges me $25 for an incoming wire transfer from the UK, not $16 unfortunately 🙁

    • Theresa Kim

      I have confirmed with the Bank of America that the fee for the incoming international wire transfers is in fact $16 — not the $25 that you were charged. $25 fee is only charged for outgoing domestic wire transfers.

      For receiving transfers from UK to your Bank of America account, you should have only been charged with a $16 incoming international wire transfers fee. You definitely want to talk to your bank about this error and hopefully get your money back!

      Hope this helps! Be sure to update us on what happens at your bank. Good luck!

      • Bob

        Yes I was only charged 15 or was it 16 but I used an FX company to transfer from the UK.

      • Thanks for taking the time to reply to this Theresa (and making me aware of the discrepancy in the first place). I contacted the client, who contacted their UK-based wire company. And this appears to be an issue on their end, and they “made a change to the way in which they make payments on their behalf to the USA”, so there should no longer be this fee.

        • Theresa Kim

          That’s wonderful news! You’re very welcome and I’m glad the issue was resolved (and hopefully you got your money back!). Thank you for sharing your story with us!

    • bard

      Hi Forthewinn,

      Bank fees inbound are zero when receiving through Transfermate transfermate . You are charged the fees you are charged because whoever your client is using in the UK isnt regulated in the US and therefore needs to use an intermediate bank. The US bank treats these as international transfers and you pay the bill. With Transfermate transfers are paid into a local transfermate bank account in the UK and paid out of a local transfermate bank account in the US. Same day payment also. Faster, easier, cheaper. Call them 24-5

  • vadc1

    Information may not be current. Citibank increased incoming wire fees to $15 on May 5, 2014, but it is not reflected in this article/table published in August and September.

    • Theresa Kim

      The wire transfer fees have been updated for Q4 2014. Thanks for pointing that out!

      Do you use wire transfers often? Which method do you use? Share your answers with us.


    BBVA Compass domestic wire fees are lower than that of any of the banks listed in the article. Not sure on foreign, but domestic it’s $12 incoming and $24 outgoing.

  • Mary Chadwick

    I think these prices are reflective of sending to different banks. I’ve checked online and Citibank has offices around the globe. And I’ve verified through a couple people that if you send money from your Citibank in San Francisco to another country’s Citibank, the transfer is completely free. I just might be switching banks… =O)

    • Theresa Kim

      That’s correct! Transferring money to a different account under the same bank is usually free – which is one of the advantages of banking with a large bank with numerous branches across the world. Thanks for sharing!

      • Emily

        Hi Theresa, do you have information of the wire transfer fee from Business account of those bank?

    • Mat Schaffer

      Word from my sources (and some commenters below) is that Citi charges now but didn’t used to. Might want to double check before switching banks 🙂

  • greatwolf

    You should throw bitcoin in there and see how it stacks up with wire transfer and other methods of transmitting money.

    • Theresa Kim

      Will definitely look into this in the future. Thanks for the suggestion!

  • I have found that Suntrust does not allow wire transfers from their online portal for my business account. Does anybody have a business account with a bank that allows the transfers to be done online? What are your fees and do you have any problems with the online interface?

  • David

    I just called Bank of America — they charge $25 for a incoming wire transfer.

  • Jim

    Theresa: EveryBill is a fantastic alternative to wire transfers. We set a business up to accept payment over the internet. We charge a monthly fee to host and support an ultra secure payment website. The per payment fee is .59 resulting in huge cost savings over time for a high volume business. A physical check can them be printed in your office on the same day that the check is written by your client or debtor.

  • Rich K

    This is great information, have you seen anything comparable on the fee structure for European banks?

    • Tim Chiswell

      European bank fees are tiny, small enough to be ignored for all practical purposes. Any bank in a country in the eurozone,charges, since 2014, €0 on incoming transfers from anywhere in europe, and outgoing fees are typically around the €0.16-0.60 mark (so about 20 to 75 cents, US).
      It’s not worth making a comparable chart of european bank fees, as the difference between cheapest and most expensive is still only a matter of a few euro cents

  • David Holland

    PNC charged me $45 for domestic wire with a follow up fee of $79 for a total of $124!!! I’m canceling my business account with them

  • kv

    Bank of America’s international wire transfer service sucks. It’s been 12 days I have not received my money. I requested a dollar to dollar transfer and all that they are saying is intermediary bank converted it to rupees and sent. They have raised a case and the intermediary bank is taking forever. Bank of America representatives I talk to are so rude and they say they can’t do anything about it. Their foreign currency department is terrible. Competitor banks are so much better. I’m thinking of terminating my accounts with Bank of America.

  • Wireboy

    This article is wrong. Tried to wire on line bank of america. Stated exchange rate 5 per cent lower than actual-on $10,000 that $500 beyond the $35 fee.

    • Simon Zhen

      Can you clarify the wire transfer that you tried to perform? As we stated above, for international wire transfers, you will find often find that the transferred amount is less than expected.

  • Catherine Minick

    It is worth noting that Discover Bank charges 0 for incoming international wires – not sure about currency conversion fees

    • ClaireMBT

      Thanks for letting us know, Catherine!

    • bard

      You get nothing for nothing;)

      • Catherine Minick

        Actually I saved a lot of money by using Discover Bank – I was being paid by a client in China, and the banks that I was using at that time both charged for incoming wires.

  • Thirunarayanan

    Banks, or any financial institution, should not charge ANY fee for incoming wire-transfer. That is ridiculous. I understand the sending bank incur cost and, thus charge a fee, but no reason for the receiving bank to charge a fee

    • Simon Zhen

      Banks probably justify it because it requires more work to process an incoming wire transfer than an ACH transfer.

      • Thirunarayanan

        Simon Zhen, you are being kind to banks that are essentially greedy. The receiving bank does not spend a penny for the incoming international, for that matter even domestic, wire-transfers. The sending bank supports all the infrastructure expenses that the intermediate agencies charge.

    • ClaireMBT

      It depends on the bank. Some banks don’t charge a fee if they are the receiving bank. For instance, Santander doesn’t charge a fee for receiving international wire transfers, even though they do for domestic.

  • Thirunarayanan

    I found out credit unions generally do not charge fees for incoming international wire-transfers. Time to change your bank to credit union.

  • Jacques C

    In the EU, when you receive a wire transfer in Euro, originating within the EU, you do not pay any incoming fee

    • Glynn

      They certainly used to. I lived in France from 1996-2006, and worked for clients in other EU countries. Every time a wire payment was received, the banks charged the same transaction fee as they did before the Euro. The only advantage was that there was no longer an exchange rate loss on top.

      • Tim Chiswell

        That’s all changed since the EU set up SEPA (Single european payment area). Now all transfers are handled as if they’re domestic – so no receiving fee at all, and sending fees are typically around 16 – 50 euro cents.
        US banks must be making a hella lot of money out of $25-35 wire fees, as the actual work involved is pretty much identical to what european banks are performing for a few cents….

  • Vijay

    Wells Fargo charges $0.00 for international wire transfer if the value is more than $500.00. I am using the service for the past 1.5 years and it’s good. The currency value is good after conversion.

    • Simon Zhen

      Which Wells Fargo checking account do you have? I don’t see this fee policy on their schedules.

      • Andrew

        I use wellsfargo international wire transfers for our nonprofit. Always $500+ sometimes $10,000 or more, and they always ding us $40…it used to be $25

    • Randy

      Yes, very interest to know that account type.

    • Darla Lazzari

      I am just now looking to leave Wells Fargo. I get over $1000 transferred into my account from England and they charge me $16 every month for the last 10 years. These american banks are all about greed. They don’t care about putting people into debt. They are just like the american insurance companies….greed will destroy our country!

    • V, Is WellsFargo still the best bank to WT INR to USD. I used CapitalOne receiver. Sender is ICICI. Is there a better sender from India? I am paying a lot at both ends!

    • earonesty

      Yep, I used Wells for wire TX for 8 years. Best bank for small business buying from overseas (China/India) merchants. But they all take/prefer Bitcoin now, so I don’t need to use Wells so much anymore.

  • Glynn

    While credit unions are great for zero charges, I’ve been having a lot of issues with receiving international wire transfers. I live in the US, and have clients all over the world. I have accounts with two US credit unions, and both use Wells Fargo as an intermediary for international wires. Wells Fargo takes a nice big chunk as transaction fees, so while the credit unions don’t charge for receiving the wires, you’re still losing out at the sending end – often with no record of how much was deducted, and by whom.

    Worse still is the extremely complex procedure. The sender needs to write the credit union’s name and account number, not my own, as the initial recipient, with my own name and account number included in the footnotes as “for further transfer to:”. This goes wrong half the time, and I get charged $80-100 for every failed transaction. If the sender follows the instructions, it works fine, but I guess it must seems counter-intuitive not to put the final recipient’s name in the “send to” box. After years of failed payments, I’m now looking for a bank that can do a direct wire, and will just accept the cost of doing business internationally.

  • This is just unbelievable. I have several Bank accounts in Europe and I pay absolutely nothing for wire transfers. Not a single penny. – If you wire $100 in the US you will pay $15 = 15% of your money to the bank. To clarify this a bit… a wire transfer is an electronic way to wire virtual money from one place to another using a computer. If you would calculate the real costs for that procedure it would be for sure less than a penny on average… but why is it then so expensive in the US?

    • Simon Zhen

      I had many European visitors complain about how expensive it is to conduct banking in the U.S. Yes, the fees for wire transfers can be quite ridiculous. European regulations simply put a tighter cap on how much can be charged for wire transfers.

    • Randy

      Can you please name a few of those European banks that have so low wire fees?

      • Sergiy Kyrylkov

        SEB bank in Estonia for instance

      • netbank.de in Germany

      • Walter Vermeir

        From Belgium; the large banks here have a fee for administration costs for having a checking account and my charge something for a debet and credit card (= every month your debt from your card must be paid in full, not a real credit card US-style). But a wire transfer is the most used way of paying bills. In Belgium at least that is without any charge. Even the frist X wire transfers you do manualy in the bank office is legally obligated free of charge. My bank pays me actualy since many years 5 cent for every transfer of payment I do. I do not pay the bank. The bank pays me because I use them.

      • Paul Gerhard

        any bank in switzerland. domestic transfer free of charge, that is how we pay bills all the time

    • Lara

      You may not pay anything for wire transfers but your European banks charge a monthly maintenance fee, which sometimes can be quite hefty, whereas most American banks charge no monthly fees. Also, if you bank with HSBC in America, you pay nothing for wires to other HSBC’s around the world. Some other global banks may have similar deals, you just have to shop around.

      • Gavin Duncan

        Not true in my experience. European banks do not charge a monthly fee for current (checking) account. Electronic transfers are always free and a lot easier to set up and manage than banks in US.

        • Paul Gerhard

          bank accounts are free if you have 15000 CHF in the account where I live

      • Wolfgang Gabler

        You may not know but banks do not only earn money with fees they charge, they earn a lot more with our money they use!

    • robert

      It’s simple. The US Banks are cheating the customers, and giving a cut (money) to the US government. The American public are too docile to protest, or do not care because it is primarily international citizens who suffer these exorbitant fees.

    • earonesty

      US banks have ACH, which is free (15 cents) and works fine for small amounts (<$15000).

  • Lauren

    I bank with a credit union currently and I am trying to receive an international incoming wire transfer but the problem is that the credit union doesn’t have a Swift Code to give to the banking sending the funds. They will not complete the wire transfer without a swift code. Any advice is greatly appreciated.

    • Simon Zhen

      U.S. credit unions do not have SWIFT codes. Typically, the foreign institution partners with a U.S. bank to wire funds to another U.S. bank. Does the foreign institution not have a corresponding U.S. bank?

      • Lauren

        I think they do. I gave the sending bank my routing and account number and they accepted the information so I will know soon if it worked or not when I receive the wire transfer funds. Thanks for the info.

        • Simon Zhen

          You’re welcome. Hopefully, it works out — it would be great if you kept us posted on whether or not you were able to receive the wire transfer.

  • Joan Baccay Marsha

    We had 2 wire transfers from Mexico. The first transaction ($100.00) there was no fee charged so we received the entire amount. The second pending transaction ( we were expecting 685.00), it says the pending amount is $670.00 – so we are assuming the fee is $15.00. What is the minimum amount before Wells Fargo Starts charging fees?

  • Madeline

    I have been paying Chase $35 per incoming international wire transaction.

    • Simon Zhen

      If that’s the case, you should dispute the fee with Chase as it should be $15 each.

      • Madeline

        Furthermore, Capital One does NOT accept incoming wire transfers from foreign banks.

        • Simon Zhen

          Capital One does accept incoming wire transfers from foreign banks. I reached out to a Capital One bank representative to confirm.

          • Madeline

            I bank with BOTH of these branches:

            -Chase charges a $15 incoming wire fee and then tacks on an additional $20usd which gets deducted from the original amount wired, since JP Morgan somehow acts as the intermediary for their own product. I eat $35 a month in wiring fees plus the $12 service fee now that I’m abroad.

            As for CapOne 360 and international wire transactions, see here: http://helpcenter.capitalone360.com/Topic.aspx?category=TRANS1
            ((Click “Can I receive a wire transfer?”)).

            The answer is No.

            To whom did you speak with at CapOne? JP Morgan also serves as an intermediary for CapOne, and there again will be an additional $20 fee for their services plus this $15 fee you all claim CapOne charges, for a total of $35 as I previously stated. Although when I attempted to wire money to my 360 account it was summarily rejected.

            • Sean El

              A capital one bank and the capital one 360 accounts aren’t the same. Both accounts have different set ups and requirements.
              The Capital One Bank account does accept inbound international wire transfers as Simon stated. However, the Capital One 360 account doesn’t. I contacted 3 different Capital One bank representatives who confirmed this. Unfortunately, there doesn’t seem to be any information online to purport that claim. I gave it a go nonetheless and I can proudly say that I just received my first international wire transfer into my Capital One bank account.

  • terre08

    I will be able to withdraw from one of my pension funds in Sweden in about 5 months. I bank with Bank of America and Unitus credit union. The document I need to fill out asks for a swift number but my credit union states that I can use the ABA routing number instead of the swift code and they only charge 8 for an incoming transfer while BofA charges 16. These will be recurring monthly payments made out in US dollar from the Swedish pension authority. Any idea if it is true that I can use the credit union ABA or if I need an intermediary bank with a swift code which I assume will end up being more expensive since that bank will charge me as well?

    • Alwyn Schoeman

      Were you successful in doing the transfer to the credit union? I have a similar issue.

  • Jeannie Z. Taylor

    The fee schedule doesn’t take into account that each bank used as an intermediary takes a cut. I received a wire transfer in US funds from SEB in London. They took a charge from the remitter prior to sending and show that they sent the full amount of the transaction to my SunTrust account. But somewhere along the way, Mellon Bank (a bank that I don’t have an account with) took $30 additional off the amount, and then SunTrust charged me for a domestic rather than international wire transfer on top of that. How the hell did the transaction go through an unrelated third-party bank, and why is it legal for them to charge me?

    When I talked to SunTrust, they told me that if I didn’t like it I could go elsewhere. But where can I go to ensure that this won’t happen? Suggestions?

    • Abdul Javeed

      is the intermediary bank fee flat rate or does it vary by amount?

  • n_orville

    The cost of a Citibank foreign outgoing wire transfer is $35, when you transact the transfer online (with a Citi account, of course). I would prefer if this were made clearer.

  • Disqus

    If you are a Chase Private Client all wire transfers incoming/outgoing, domestic and international are free.

  • Firas

    I bank with Wells fargo and it was supposed to receive $850 foreign wire transfer to my account but I received $835. in addition, they deducted $16 fees. it means in total the amount deducted was $31, is that normal??

    • Simon Zhen

      You may have received less money due to the currency exchange rate that Wells Fargo used for the transfer. Wells Fargo uses a lower exchange rate than the actual exchange rate, which will lead to less money ending up in your account.

      • Firas

        The amount that I should receive is $850 after currency exchange rate which applied by the bank of sender’s country.

        • Simon Zhen

          There may also be an intermediary fee charged by another bank that participated in the wire transfer. Wells Fargo can tell you if it used another bank to assist with this transfer.

          • Abdul Javeed

            can we exactly find out how much fee the intermediary bank is going to charge? is it flat rate or does it vary by amount?

  • Jabber0ne

    Yikes on the fees. Why not Bitcoin with fees that are a few pennies and transfers confirmed in minutes?

  • Shokri Selim

    I wired $10,000 from Saudi Arabia to an account in Bank of America. I paid $23 as transfer fee. However $50 were deducted. Bank of America charges $16 for incoming wire, where did the remaining $34 go? Does B of America use an intermediary?

    • Simon Zhen

      Depending on the bank in Saudi Arabia, Bank of America may have had to use an intermediary to complete the international wire transfer. It would be best to contact Bank of America to determine whether or not the higher fee was due to an intermediary bank fee.

  • Kelvin

    Hi there, I m Kelvin from Malaysia, I m a customer of RHB Bank from Malaysia, may I know that regarding transfer charges form US Bank, my friend transfer the money from US Bank to my Account RHB bank how much the chargers? How about my chargers? I hope you read my message soon, and I will be waiting your answer, thank you.


  • Kelvin

    My transfer amount MYR 13k, thanks.

  • I’ve heard of crazy fees as high as $5,000 for foreign currency wires to new zealand, wonder how they could be so high

  • Bartwa

    are there limits on the amount of money that can be transferred from a Spanish bank to the USA?

  • Mr MinISTER

    Is it real that US banks and credit unions charge you with a fee when your personal bank account is credited by a dollar amount ????
    In Europe you are charged only for initiating transfer to an other bank account and the fee is debited on your prevailing account balance, rather than being deducted from the transferred amount.

  • Lisa Bianconi

    Capital One does NOT do international wire transfers. Called their customer service line three times and no, they do not.

  • The1991genius

    This is just another great example of America being behind the rest of the countries we’re supposed to be “on par” or “better” than.

    In those countries if you want to transfer your money from one bank to another, it’s instant and doesn’t cost anything. Here we have ACH which takes days to do, and if you want to use up to date technology (wire transfer) it costs at least $20 and probably a lot more.

    So what other countries consider standard and free… America has to pay for, or suffer speeds that are comparable to banking speeds of the 1990’s.

    Just like with the whole ATM thing… In our counterparts, there’s free ATM’s almost everywhere the ATM doesn’t have an independent owner. In this country? Banks charge you $2.50 or more to use an ATM that isn’t there’s.

    Other countries? Chip & Pin and contact less cards are widespread… You probably will go a year or more before you see a place that doesn’t take contact less. Here in America? 10% of the merchants do both contact less and c&p, while less than .01% of banks have contact less cards.

    But yes, this country is so far ahead of our counterparts.

    • Paul Gerhard

      i came here as i was astouned at how much a domestic transfer in the US cost (15 USD) I could not believe it. I take for granted to be free as I live in Europe where it cost nothing. There would be people in the streets if there were asking 15 CHF or EUR per bank transfer!!!!

  • Denese

    In case anyone can help…
    We live in the US. We wire-transferred 15,550Eur to Germany today. The bank deducted $18,400 from our account. The exchange rate today showed .89 and our paperwork says 1.18 exchange.
    I know this should be obvious, but I’m admittedly not numbers sharp. I do know we got ripped off, but what I want to know is if this is normal for a wire transfer when converting the money on this side of the pond.
    Thanks so much.

    • Bill.

      Hi, often the exchange rate will be quoted the opposite way around ie. UsdEur(.89) or EurUsd(1.18). Just check you have haven’t mixed up which way you are looking at it.

  • Hi, What is the best bank to WT INR to USD. I used CapitalOne receiver $15 + $25 for intermediary. Sender is ICICI, $15 + exchange charge of 0.7%. Is there a better sender from India? I am paying a lot at both ends! thx. Indi P.

  • Coach

    After weeks of searching, I switched to EverBank. They don’t charge a wire transfer fee and only take .75% spread on the going exchange rate. Bank of America was charging me a $16 fee + 3.75% spread on the exchange rate.

  • Eugz

    Hi, I want to know if I really need to pay 496USd to recieve a wire transfer amounting $20,000 from Barclay bank in Canada?

    • If the actual wire transfer fee is $496, that does seem very high and unusual. If you’re going to be losing that much money because of the exchange rate, then it is possible because of the large transfer amount.

  • Brenda Ivy

    My fiance worked in India and signed his contract when in London so his money had to be gotten there in london but he was planing to move to the US so he tried to transfer his money to my bank account. So they are charging him $5,989 to transfer it to my bank account but he doesnt have the money since he signed papers to have it tranferred to me.Can they not take the money out of his funds?Thank You Brenda Ivy

    • The fee for a transfer could be taken out from the amount that is being sent. Therefore, you’d end up receiving less money than you expected.

  • John Rey Babula

    Is it true that you can transfer 50000 USD from foreign country to other country but it requires an authorizarion code and to generate the aurhorization code i need to pay 1500 USD?