![]() Navigating the intricacies of international money transfers can be daunting, but companies like Wise and OFX are international money specialists. Convenience – check out the options for sending your payment – while many banks let you set things up online or in an app, some still require you to head into a branch in person.It’s common for banks to add extra fees here, so doing a bit of homework and looking at a few alternatives can save you money. Exchange rates – compare the exchange rate your bank offers against the mid-market rate you’ll find on Google.Check the delivery times when you arrange your payment. Speed – international wires commonly take 3 to 5 days to arrive in the destination account when sent with a traditional bank.The transfer fee you pay can vary widely depending on how you structure the payment. Costs – before you get started make sure you’ve thoroughly read the payment fee schedule.Not sure how to arrange your international wire? Here are some factors to consider when you’re deciding: Go to Wise Go to OFX Things to consider when choosing an international transfer provider You may find alternative services such as Wise or OFX for international transfers with more transparent fees and – often – a better exchange rate. Exchange rate markups and third party costs can also apply even where transfer fees are waived, which push up the price further. ![]() *These outbound wire transfer fees do not take into account the exchange rates charged by the banks which almost always include additional costs and charges.Īs you can see, the upfront transfer fees from major US banks do vary widely. US Bank – $50 for all outgoing international transfers*. ![]()
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