Yes, you can receive money from outside the United States into a U.S. bank account
Money sent from another country to your bank account is called an international wire transfer or international remittance. Your bank can receive it, but the process takes longer than a domestic transfer and usually costs money — either you pay a fee, the sender pays a fee, or both.
The speed and cost depend on which country the money is coming from, which bank is sending it, and which bank you use. Some transfers arrive in one to two business days. Others take a week or longer. Fees range from nothing to $50 or more per transfer.
Before money arrives, you need to give the sender your bank account number, routing number, and your bank's name and address. For some countries, you may also need a code called a SWIFT code or IBAN — your bank can tell you whether the sender needs it.
Key Takeaways
- International transfers require your account number, routing number, and bank name — ask your bank whether the sender also needs a SWIFT code or IBAN.
- Transfers from some countries are faster and cheaper than others, so the cost and timing depend on where the money is coming from.
- Your bank may hold the money for a few days while it clears, even after it arrives in your account.
- Some banks charge fees on incoming transfers; others do not — call your bank to ask what it charges before the money is sent.
- If something goes wrong, the sender's bank and your bank must work together to trace the transfer, which can take weeks.
What information the sender needs from you
The sender needs to know where to send the money. At minimum, give them your account number and your bank's routing number. You can find both on the bottom left of any check you have, or by calling your bank or logging into your account online.
Also tell them your bank's full name and the city and state where your branch is located. If the sender's bank asks for a SWIFT code (a four-letter code that identifies your bank internationally), your bank can provide it. Not all countries require it, but some do.
Some countries use a different system called IBAN instead of routing numbers. If the sender is in Europe or certain other regions, their bank may ask for an IBAN. U.S. banks do not use IBANs, so your bank will tell you that you do not have one — this is normal and not a problem.
How long the transfer takes and what happens while you wait
An international transfer usually takes three to five business days from the time the sender sends it. Some transfers arrive faster — occasionally in one or two days. Others take longer, especially if the sending bank or receiving bank is slow to process, or if the money is coming from a country with fewer banking connections to the United States.
When the money arrives at your bank, it may show up in your account right away, or your bank may place a hold on it for a few days while it clears. A hold means the money is there, but you cannot spend it yet. Your bank will tell you when the hold lifts and the money is fully yours to use.
While the transfer is in progress, you cannot track it the way you would a package. The sender's bank sends it into the banking system, and your bank receives it when it arrives. If you want to know the status, you or the sender can contact your bank with the transfer details, but the bank may not have much information until the money actually shows up.
Fees you might pay
Your bank may charge you a fee to receive an international transfer. The amount varies widely — some banks charge nothing, others charge $15 to $50 per transfer. Call your bank and ask what it charges for incoming international transfers before the sender sends the money.
The sender's bank also charges a fee, usually $15 to $50. Sometimes the sender's bank deducts its fee from the amount sent, so you receive less than the sender intended. Other times the sender pays the fee separately. The sender should ask their bank how much it costs and whether the fee comes out of what you receive.
In some cases, a third bank in the middle also takes a cut. This happens when the sender's bank and your bank do not have a direct relationship and the money passes through another bank to get to you. You have no control over this, but your bank can tell you whether it expects a middleman bank to be involved.
What to do if the money does not arrive
If the transfer does not show up within the time the sender's bank said it would, contact your bank first. Give them the sender's name, the amount, the date it was sent, and any reference number the sender has. Your bank can check whether the money arrived and is on hold, or whether something went wrong.
If your bank did not receive it, the sender's bank must investigate. This process is slow — it can take two to four weeks. The sender should contact their bank with the same information and ask them to trace the transfer. The two banks will communicate with each other to find out what happened.
In rare cases, the money gets lost or sent to the wrong account. If that happens, the sending bank is responsible for recovering it, not your bank. This is why it is important to double-check all the account information before the sender sends anything.
Alternatives to international wire transfers
Wire transfers are the most common way to receive money from abroad, but they are not the only way. Some people use money transfer services like Western Union or MoneyGram, where the sender goes to a location in their country, pays cash, and you pick up the money at a location in the United States. These services are fast but usually more expensive than a wire transfer.
Other services, like Wise (formerly TransferWise) or PayPal, let the sender transfer money online directly to your account. These services often charge lower fees than banks do, especially for large amounts. However, not all countries and banks work with all services, so the sender would need to check whether their bank and country are supported.
If the sender has a U.S. bank account, they can straightforward transfer the money to you as a domestic transfer, which is faster and cheaper. This only works if the sender is in the United States or has a U.S. bank account.
How to prepare your bank account to receive international money
You do not need to do anything special to your account before receiving an international transfer. Your regular checking or savings account can receive money from abroad. However, it is a good idea to call your bank and let them know you are expecting a transfer, especially if it is a large amount.
Some banks flag large international transfers as suspicious activity and may freeze the money while they investigate. If you tell your bank in advance that you are expecting the transfer, they are less likely to hold it up. Give them the sender's name, the amount, and roughly when it should arrive.
Also ask your bank whether it has any limits on how much you can receive in a single transfer, or how many international transfers you can receive in a month. Most banks do not have limits, but some do.
Frequently Asked Questions
Do I have to pay taxes on money I receive from abroad?
That depends on what the money is. If it is a gift from family, you do not owe federal income tax on it. If it is income from work or a business, you do owe tax. If you are unsure, speak with a tax professional or contact the IRS. Your bank does not decide whether you owe tax — that is between you and the government.
What if the sender sends the money to the wrong account by mistake?
The money will go to whoever owns that account. The sender's bank can try to recover it, but it is difficult and slow. This is why it is critical to give the sender your correct account number and routing number, and to have them confirm the information before sending.
Can I receive money if I do not have a bank account yet?
No. You need a bank account with a U.S. bank to receive an international transfer. If you do not have one, you will need to open one first. Many banks let you open an account online or in person with just an ID and a small deposit.
Will my bank report the transfer to the government?
Banks report large transfers as part of federal law. If you receive more than $10,000 in a single transfer or multiple transfers that add up to more than $10,000 in a short time, your bank files a report. This is routine and does not mean you did anything wrong — it is how the government tracks large money movements.
Can the sender cancel the transfer after they send it?
Once the money leaves the sender's bank, it is usually too late to cancel. The sender should ask their bank about cancellation before sending, but most banks cannot stop a transfer that has already been processed. This is another reason to make sure all the details are correct before the sender sends anything.