Yes, you can transfer money internationally from most U.S. bank accounts, but the method, cost, and speed depend on where the money is going and which bank you use

Most banks offer international transfers, but they do not all offer them the same way. Your bank may handle the transfer itself, route it through a correspondent bank network, or partner with a third-party service. The destination country, the receiving bank's location, and whether you have an account relationship with your bank all affect whether a transfer is possible, how much it costs, and how long it takes. Some banks charge flat fees; others charge a percentage of the amount sent. Some transfers arrive in one to two business days; others take a week or longer.

The most common route is a wire transfer through the SWIFT network (Society for Worldwide Interbank Financial Telecommunication), which connects banks globally. You provide your bank with the recipient's name, account number, bank name, and bank routing code. Your bank deducts the money when ready and sends instructions to the receiving bank. The receiving bank then deposits the funds into the recipient's account. Wire transfers are generally the fastest and most reliable method for larger amounts.

Key Takeaways

  • Wire transfers through SWIFT are the most common method for international transfers and typically cost between $15 and $50 depending on your bank and the destination country.
  • You will need the recipient's full name, account number, bank name, and the bank's SWIFT code or routing information before you initiate a transfer.
  • Wire transfers usually complete within one to three business days, but some countries or banks may take longer.
  • Your bank may charge both an outgoing fee and pass along fees charged by correspondent banks in the receiving country, which can reduce the amount the recipient receives.
  • International ACH transfers, online payment services, and money transfer companies offer lower costs for smaller amounts but are slower than wire transfers.

What information you need before you start

Before you contact your bank or log into online banking, gather the recipient's banking details. You will need their full legal name (exactly as it appears on their account), their account number, the name of their bank, and the bank's SWIFT code or international routing number. If the recipient's country uses a different account identifier—such as an IBAN (International Bank Account Number) in Europe or a sort code in the United Kingdom—ask the recipient for that instead of or in addition to the account number.

Ask the recipient to confirm these details in writing or have them provide a bank statement or letter from their bank showing the account information. Errors in the recipient's name or account number are the most common reason transfers are delayed or sent to the wrong account. Some banks will not process a transfer if the recipient's name does not match their account exactly, even if the account number is correct.

Wire transfer fees and what they cover

Wire transfer fees vary widely by bank and destination. Domestic wire transfers within the United States typically cost $15 to $30. International wire transfers usually cost $25 to $50 from your bank, depending on whether the destination is a major financial center (like London or Toronto) or a smaller market. Some banks charge more for transfers to certain regions or countries with higher compliance requirements.

The fee your bank charges covers the outgoing wire only. The receiving bank in the destination country may also charge a fee to receive and deposit the funds, which is deducted from the amount the recipient receives. This is called a receiving fee or incoming fee. Your bank cannot control this fee and often cannot tell you in advance what it will be. Ask the recipient's bank directly what they charge to receive international wires, or ask the recipient to check with their bank.

Some banks offer lower wire fees if you maintain a high account balance, have a premium account tier, or transfer money regularly. Ask your bank whether any of these conditions explore to you.

How long international transfers take

A wire transfer to a major financial center typically arrives within one to three business days. Transfers to smaller banks, remote regions, or countries with slower banking infrastructure may take five to seven business days or longer. Time zones and banking holidays in the destination country also affect timing. A transfer initiated on a Friday afternoon may not begin processing until Monday morning in the receiving country.

Once your bank sends the wire, you cannot stop it or change the recipient. If you realize you made an error after initiating the transfer, contact your bank when ready. Some banks can recall a wire if it has not yet been received, but this is not may provide and may take several days. If the wire has already been deposited into the recipient's account, you will need to contact the recipient directly and ask them to return the funds.

Other methods: ACH, online services, and money transfer companies

If you are sending a smaller amount or are not in a hurry, other options may cost less than a wire transfer. International ACH transfers (also called IAT transfers) allow you to send money from your U.S. bank account to a bank account in Canada or Mexico. These transfers typically cost $5 to $15 and take three to five business days. Not all banks offer IAT transfers, so check with your bank first.

Online payment services like PayPal, Wise (formerly TransferWise), and OFX allow you to send money internationally without using a wire transfer. These services often charge lower fees than banks—sometimes 1 to 3 percent of the amount sent—and may offer better exchange rates if you are converting currency. However, they may have daily or monthly limits on how much you can send, and they may require the recipient to have an account with the same service or a linked bank account in their country.

Money transfer companies like Western Union and MoneyGram allow you to send cash that the recipient can pick up at a physical location, or they can deposit the funds directly into a bank account. These services are useful if the recipient does not have a bank account, but they typically charge higher fees (3 to 8 percent) and offer worse exchange rates than banks or online services.

Currency exchange and what the recipient actually receives

If you are sending money to a country that uses a different currency, your bank will convert your dollars at an exchange rate. Banks do not use the real-time market rate; they add a markup of 1 to 3 percent or more. This means the recipient receives less than they would if you converted the money at the mid-market rate yourself.

Online payment services like Wise often offer better exchange rates than banks because they use real-time rates with a smaller markup. If you are sending a large amount or sending money regularly, comparing the total cost (fees plus exchange rate markup) across your bank, online services, and money transfer companies can save you money.

Ask your bank what exchange rate they will use before you initiate the transfer. Some banks allow you to lock in a rate for a set period (usually 24 to 48 hours), which protects you if the rate moves against you while the transfer is processing.

What happens if something goes wrong

If a wire transfer does not arrive within the expected timeframe, contact your bank and provide the confirmation number from your transfer. Your bank can trace the wire through the SWIFT network and determine where it is. If the wire was sent to the wrong account due to an error in the recipient's information, your bank may be able to contact the receiving bank and ask them to return the funds. This process can take several weeks.

If your bank made an error—such as sending the money to the wrong account or using an incorrect exchange rate—contact them in writing and request a correction or reversal. Document everything: the confirmation number, the date you initiated the transfer, the amount you sent, and the recipient's information as you provided it. Keep copies of all correspondence with your bank.

If the recipient's bank received the funds but deposited them into the wrong account, the recipient will need to contact their bank to report the error. The receiving bank can attempt to recover the funds, but this is not may provide, especially if the funds were deposited into an account held by a third party.

Frequently Asked Questions

Do I need to notify my bank before sending money internationally?

Most banks do not require advance notice for international transfers, but some may flag large transfers as suspicious activity and temporarily hold them while they verify the transaction. If you are sending a large amount or transferring to a new country for the first time, call your bank beforehand to let them know. This can prevent delays.

What is the maximum amount I can send in one transfer?

Limits vary by bank and account type. Many banks allow transfers of $10,000 or more per day, but some have lower limits for online transfers and higher limits for transfers initiated in person or by phone. Check with your bank about your specific limit. Transfers over $10,000 are reported to the IRS on Form 8300, but this is routine and does not indicate wrongdoing.

Can I send money internationally from a savings account?

Yes, most banks allow international transfers from savings accounts, checking accounts, and money market accounts. The process is the same as from a checking account. Some banks may charge a higher fee for transfers from savings accounts or may limit how many transfers you can make per month.

What if the recipient's bank does not accept wire transfers?

Very few banks refuse wire transfers entirely, but some smaller banks or credit unions may not accept them or may accept them only during certain hours. Ask the recipient to confirm with their bank that they accept incoming wire transfers and what information they need. If their bank does not accept wires, ask whether they accept ACH transfers, direct deposits, or transfers through online payment services.

Will my bank tell me the exchange rate before I send the money?

Yes. Call your bank or log into online banking and request a quote. Most banks will hold the quoted rate for 24 to 48 hours, which gives you time to decide whether to proceed. After that period, the rate may change. Some banks charge a small fee to lock in a rate for longer than 48 hours.