Yes, you can transfer money to a foreign bank account, but the method and cost depend on where the money is going and how fast you need it to arrive

Most U.S. banks let you send money internationally, though not all offer the same options or charge the same fees. The three main routes are wire transfers (fastest but most expensive), international ACH transfers (slower but cheaper, available to some countries), and money transfer services like Western Union or MoneyGram (middle ground on speed and cost). Which one works for you depends on the country, the amount, and whether the receiving bank participates in the system you choose.

Before you start, you will need the recipient's full name, their bank account number, and their bank's routing information — usually called a SWIFT code or IBAN (International Bank Account Number), depending on the country. Some banks also ask for the recipient's address. If you do not have these details, ask the person receiving the money to provide them or contact their bank directly.

Key Takeaways

  • Wire transfers are the fastest method (usually one to three business days) but typically cost $15 to $50 per transfer, plus the receiving bank may charge a fee.
  • You will need the recipient's SWIFT code, IBAN, or bank routing number before you can send money, so ask for these details in advance.
  • International ACH transfers are cheaper than wires but only work to certain countries and take longer — usually five to ten business days.
  • Money transfer services like Western Union or MoneyGram let you send cash to be picked up, but charge higher fees and exchange rates than banks.
  • Exchange rates vary by provider and change throughout the day, so the amount the recipient gets depends on when you send it and which service you use.

Wire transfers: the fastest but most expensive option

A wire transfer moves money directly from your U.S. bank account to the recipient's foreign bank account. It is the most common method for larger amounts and usually arrives within one to three business days, though some countries take longer. You initiate it through your bank's website, mobile app, or by visiting a branch in person.

Wire transfer fees vary by bank. Most U.S. banks charge between $15 and $50 to send an outgoing international wire. Some banks charge less if you are a premium customer or if you send to certain countries. The receiving bank may also charge a fee to accept the wire — this is separate from what your bank charges and can range from nothing to $15 or more. Ask both banks about their fees before you send.

To send a wire, you will need the recipient's bank account number, the bank's SWIFT code (a unique identifier for banks worldwide), and sometimes the IBAN. Your bank will also ask for the recipient's full name and address. Double-check all details before confirming — wire transfers cannot be reversed once they leave your bank.

International ACH transfers: cheaper but limited to certain countries

ACH stands for Automated Clearing House. An international ACH transfer is like a domestic ACH transfer but crosses a border. It costs much less than a wire — often $0 to $10 — but only works to banks in Canada, Mexico, and the United Kingdom. If the recipient's bank is in another country, this option will not work.

International ACH transfers take longer than wires, usually five to ten business days. Some banks do not offer this service at all, so call yours to ask whether they do and which countries they support. If your bank does offer it, you can usually set it up online or by phone. You will still need the recipient's account number and their bank's routing information.

Money transfer services: cash pickup or account deposit

Services like Western Union, MoneyGram, and Wise (formerly TransferWise) let you send money without needing the recipient's bank account details. With Western Union and MoneyGram, the recipient can pick up cash at a local agent location. With Wise, the money goes directly to a bank account but the exchange rate is usually better than traditional banks.

These services charge fees based on the amount and destination. Western Union and MoneyGram typically charge $5 to $30 for smaller amounts, but the exchange rate they offer is usually worse than what your bank would give you, which means the recipient gets less money overall. Wise charges a smaller fee but requires the recipient to have a bank account.

Money transfer services are useful when the recipient does not have a bank account or needs cash when ready, but they are more expensive than bank wire transfers for larger amounts. Compare the total cost — including fees and exchange rate — across all three options before you decide.

Understanding exchange rates and hidden costs

When you send money in U.S. dollars to a country that uses a different currency, the bank or service converts your dollars at an exchange rate. The rate changes throughout the day based on currency markets. Your bank or service will show you the rate they are using, but it is usually not the same as the "mid-market" rate you see in the news — they add a markup to make money on the conversion.

Different providers use different markups. Banks typically add 1 to 3 percent to the mid-market rate. Money transfer services like Western Union may add 5 to 10 percent or more. Wise advertises a smaller markup, usually under 0.5 percent. The difference matters: on a $1,000 transfer, a 5 percent markup means the recipient gets $50 less than they would with a 1 percent markup.

Some banks also charge a separate "conversion fee" on top of the wire fee and the exchange rate markup. Always ask your bank for the total cost before you send — the wire fee, the exchange rate they are using, and any conversion fees. This is the only way to know what the recipient will actually receive.

How to set up a transfer through your bank

Most U.S. banks let you send international transfers through online banking or their mobile app. Log in, look for "Send Money" or "Wire Transfer," and select the international option. You will be asked to enter the recipient's name, account number, bank name, and SWIFT code or IBAN. Some banks ask you to save the recipient as a "payee" the first time, which makes future transfers faster.

Before you confirm, the bank will show you the fee, the exchange rate, and the amount the recipient will receive. Review all of this carefully. If anything looks wrong, cancel and contact your bank. Once you confirm, the transfer usually cannot be stopped or reversed.

If you are not comfortable doing this online, you can visit a branch in person. A bank employee can walk you through the process and answer questions about fees and timing. Some banks require you to visit in person for your first international transfer, so check your bank's policy before you start.

What to do if the transfer does not arrive

International transfers usually arrive within the timeframe your bank quoted, but delays happen. If the money does not arrive by the expected date, contact your bank and provide the confirmation number from your transfer. Your bank can check the status and tell you where the money is.

If the transfer was rejected or returned, it is usually because the recipient's account number or bank details were wrong. Your bank will send the money back to your account, which can take another week or two. Once it arrives, ask the recipient to double-check their account number and bank details, then send it again.

If the recipient's bank is in a country under U.S. sanctions or has restrictions on receiving international transfers, your bank may refuse the transfer. This is rare but does happen. Your bank will tell you if this is the case and will not charge you a fee if they reject it before sending.

Frequently Asked Questions

How much does it cost to send money internationally?

Wire transfer fees range from $15 to $50 at most U.S. banks, plus the receiving bank may charge $0 to $15. International ACH transfers cost $0 to $10 but only work to Canada, Mexico, and the UK. Money transfer services charge $5 to $30 depending on the amount and destination. Exchange rate markups add another 1 to 10 percent depending on the provider.

What is a SWIFT code and where do I find it?

A SWIFT code is an eight or eleven-character code that identifies a specific bank worldwide. Ask the recipient to provide it, or they can find it on their bank statement, in their online banking portal, or by calling their bank. Some countries use an IBAN instead, which is a longer code that includes the account number.

How long does an international transfer take?

Wire transfers usually arrive in one to three business days. International ACH transfers take five to ten business days. Money transfer services for cash pickup are usually available within minutes to a few hours. Delays can happen if the receiving bank is in a different time zone or if there are errors in the account details.

Can I cancel a transfer after I send it?

Once a wire transfer leaves your bank, it usually cannot be stopped. Contact your bank when ready if you need to cancel, but they may not be able to help. International ACH transfers can sometimes be stopped if you contact your bank within a few hours. Money transfer services like Western Union can sometimes be canceled if the recipient has not picked up the cash yet.

What happens if I send money to the wrong account?

If the account number was wrong, the receiving bank will usually reject the transfer and send it back to you, which takes another week or two. If the account number was correct but belonged to the wrong person, the money may stay in that account. This is why it is critical to double-check all details before you send, especially the account number and recipient's name.