How to send money to buy a property abroad 🌍 [2025]

Whether it’s for yourself to live in, as an investment or a vacation home, buying a property abroad is a dream for many Americans. If you’re planning how to buy your international property, you’ll need to figure out the best way to pay for it from the US.

Buying a property abroad can be costly and slow, so finding a way to send high value transfers overseas with low fees, fair rates and a fast delivery time is crucial.

In this article we’ll talk about the options to pay for a high value overseas purchase with a bank wire – and also look at providers like Wise and OFX to make cheap, fast and safe international transfers.

Key points: Buying property abroad as an American

How to send money to buy a property abroad from the US

When it’s time to send money to buy a property abroad from the US, you’ll need a safe and convenient way to send a high value payment. While there are many options to transfer funds abroad, in this guide we will explore two different popular and easy options:

• International money transfer, using specialist providers
• SWIFT payments and international bank wires, using banks.

Ultimately, the best option will depend on your own specific preferences and needs. Here’s a quick rundown of some pros and cons of each – and we’ll have a more detailed look at your primary options later.

Using an international money transfer provider

You can register an account with a specialist money transfer service, which will allow you to send a high value payment using your phone or laptop. You’ll still be able to pay for your transfer from your bank, but the transfer provider may have optimized their systems to allow for low fees and a quick delivery time.

• Register an account online or in an app
• Providers like Wise and OFX offer a fully digital onboarding and transfer service
• Options like OFX have no transfer fees, while Wise has no fees added to the exchange rate
• Delivery times can be quick compared to SWIFT payments

It’s also helpful to know that some specialist services which offer money transfer products also have account and card services which let you hold and exchange many different currencies in one account.

Wise for example has a multi-currency account you can use to hold 40+ currencies, with the mid-market rate for exchange when you send or spend. This could be an additional handy tool if you plan to live in or visit the country you’re buying a property in regularly.

How to send money abroad with a specialist provider

Here’s how to send money abroad with a specialist provider:

1. Choose your preferred provider and follow the steps to register an account
2. Get verified by uploading images of your ID and address documents
3. Enter the amount and currency you want to send to generate a quote for fees and rate
4. Add the recipient information following the prompts – for high value payments you may need to provide additional details or documents
5. Fund the payment using your preferred payment method

Using a bank transfer (SWIFT)

If you plan on sending a bank wire to cover the costs of your overseas property purchase, it’s good to know that most banks use the SWIFT payment network. SWIFT is a safe and reliable payment method, but it can also be slow and expensive. In SWIFT several different banks can work together to process a single payment, passing it along the chain until it lands in the correct account in the end. Each provider can charge a fee which is deducted as they handle the transfer, and which may mean the recipient gets less than you expect in the end. Aside from third party fees like these, banks may also have fairly high fees for large payments, plus exchange fees.

How to send money abroad with a bank

Here’s how to send money abroad with a bank:

1. Check your bank’s international wire limits which can vary by payment method – decide if you need to send in a branch or if you can make a digital transfer
2. Set up your payment online or in a branch by showing your ID and having a teller help you
3. Check the fees and exchange rates for your payment
4. Fund the payment from your preferred bank account

Best ways to transfer money abroad to buy property from the US

There are several different ways you might choose to send money abroad to buy property from the US, including specialist providers and banks.

Specialist services like Wise and OFX often allow you to generate a no obligation quote, even without registering a customer account. This means you can see how much your transfer would cost – and what the recipient might get – before you sign up.

Banks will only offer wire payment services for existing customers, so to see the full details of your transaction you’ll need to log into your online or mobile banking.

To give a flavor of your ideas, here’s a look at the costs of sending a high value payment to Europe with Wise and OFX:

Details correct at time of research – 9th May 2025, taken from Wise website. About Wise pricing: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

As you can see, in this comparison the recipient gets more with Wise, even though the transfer fees are higher. That’s because the exchange rate used by Wise is better than the rate offered by OFX. On a high value payment, even a fee added into the rate can make a huge difference to the overall cost.

What about banks?

As we’ve seen, banks don’t usually let you model the amount the recipient would get unless you are already registered for an account and mobile or online banking with them. However, you can see the broad fee structure without needing to commit to an account – here’s a look at the options for Chase and Bank of America when sending money to Europe to buy a property:

Details correct at time of research – 9th May 2025, taken from Bank of America and Chase websites

Wise

Wise is a specialist in international payments, accounts and card services for personal and business customers.

If you need to transfer money to buy a property abroad, Wise can be a great option as there’s no fee added to the exchange rate you’re offered. Instead the fees are split out for transparency, and you may even benefit from progressive fee discounts if you send a payment over 20,000 GBP in value – about 26,500 USD.

Aside from international payments, Wise also offers multi-currency accounts you can use to hold and exchange 40+ currencies, the international Wise Multi-Currency Card and business services.

Details correct at time of research – 9th May 2025. About Wise pricing: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information. The speed of transaction claims depends on individual circumstances and may not be available for all transactions

Is Wise safe for large transfers?

Wise is a digital first company which has been built with security at its heart. Payments are processed securely, and accounts are covered by 2 factor authentication and other industry level security features.

📚 Learn more: How to send large amounts of money with Wise

OFX

OFX is a specialist in currency exchange and payments, and offers transfers from the US to many other countries, with no transfer fee and a low exchange rate markup.

You can arrange your payment online, in app or by phone, which may appeal to people who prefer to talk through their payment needs. Aside from payment services, OFX also has currency risk management solutions for individual and business customers.

Details correct at time of research – 9th May 2025

Is OFX safe for large transfers?

Yes. OFX is a large, well liked and tested provider which uses high level security and also has a 24/7 phone service you can call if you’re ever unsure of anything related to your payment.

Bank of America

Bank of America has a very low digital wire transfer limit, so if you’re sending a high value payment to cover the costs of buying a property abroad, you’ll likely need to do so in a branch or BoA financial center. This has the advantage that you’ll be able to talk through your needs with a banker, but it can be inconvenient if you need to travel to sort out your transfer. There’s no fee for a transfer sent in a foreign currency, but exchange rate fees do apply. Aside from payment services, Bank of America also has a full suite of other financial products, from accounts and cards to investments and loans.

Details correct at time of research – 9th May 2025

Is Bank of America safe for large transfers?

Yes. Bank of America has industry level safety features including a thorough identification and verification process when you visit a branch to set up your transfer.

Chase

Chase offers online and in person international transfers, but you’ll need to check in your own app to see the limits which apply for each transfer type. The fee structure is pretty complex, depending on the way you send your money, the value and the currency. If you exceed your digital payment limit and need to send in a branch there’s a pretty high 50 USD fee to pay. As a full service bank Chase also offers many other products like savings accounts, loans and credit cards.

Details correct at time of research – 9th May 2025

Is Chase safe for large transfers?

Yes. Chase is a safe bank to use when you send money overseas to buy a property. Chase has a high level manual and automatic processes to prevent fraud and keep accounts and payments secure.

How to choose a provider for your transfer

It’s really important to choose the provider that best suits your needs when sending money abroad, to avoid unexpected issues down the line. That means investing a bit of time upfront to decide which option best meets your specific requirements.

Things you should consider include:

• Check your provider is safe to use, and is licensed and regulated in the US
• Make sure that the provider supports the currency route you need
• Look at the recent feedback on the provider which you can find online on sites like Google and Trustpilot, to see what their service standards are like
• Check the transfer limits which may vary for digital payments – if your bank has low digital payment limits, consider an alternative with higher limits like Wise or OFX
• Check the fees including the costs which are built into the exchange rate – see what the recipient gets in the end as the most consistent way to compare international transfer providers
• Find out how long it takes for your money to arrive, to make sure you won’t miss important deadlines
• Ask if the provider has dedicated support for high value payments – with Wise, for example you can get a call back from the high value transfer team if you ever need specific help

What is the maximum amount you can send money abroad?

Each provider, and each bank has its own transfer limit, although in some cases you can increase this by visiting a bank directly or calling the provider to talk through your options. Limits may also vary based on the currency and your status with the provider or banks.

Aside from this, you’ll need to check if there are any limits based on the country you’re sending to, which may be imposed by the local authorities there. It’s always a good plan to have a reliable local team overseas when you’re buying a home, who should be able to guide you on this point.

Tax implications on buying property overseas

Tax can be complicated – and it’s even more so if you’re buying property overseas as you might also have to consider the tax implications in the foreign country. It is crucial that you take advice in the US and in the country you’re buying a home in, so you comply with all the rules.

Tax rules overseas can vary a lot. In the US the tax regulations when buying property abroad can depend on your residence among other things. If you have assets overseas you’ll need to be familiar with FATCA for example, and if you’re buying to live abroad, you might need to learn about the IRS foreign housing exclusion, among other points. Get professional advice to ensure all your bases are covered, at the earliest possible opportunity.

Regulations for sending large international transfers

While there’s not usually any barrier to sending a large amount of money from the US abroad, it’s important to realise that for payments valued at 10,000 USD or more, your bank or transfer provider will need to report these transfers to the Financial Crimes Enforcement Network (FinCEN). This is to stop financial crime – you won’t need to do anything in most cases, as your bank or payment provider sorts this out for you.

Do I need to declare foreign property in the US?

Get personal advice to understand if you need to declare your foreign property in the US. Whether or not this is needed will depend on things like whether or not the property is let out, and where you live at the time of filing your taxes.

How to purchase property in another country

While the process to purchase property in another country may vary a bit depending on the country involved, there are a few key steps you’ll almost always need to take:

Step 1: Research the property types and prices online using reputable real estate websites, to set a budget and understand your options

Step 2: Get a local real estate agent, and a lawyer or solicitor to help you navigate the process

Step 3:Start viewing properties and put in an offer via your agent when you find the one for you

Step 4:Negotiate a sales contract via your legal advisors and pay your deposit on the property

Step 5:Your local team will complete due diligence checks and ensure the purchase is safe to proceed with

Step 6:Set a date for completion – on that date you’ll pay the outstanding amount, and the property will be passed into your ownership according to the local laws in the country

What are the documents required to transfer large sums of money?

Generally, you’ll need to provide documents to the bank or transfer provider to show where the funds you’re using have come from. These documents depend on the source of the money, but here are a few examples of what may be needed in some common cases:

Can you buy a house in another country without citizenship?

The rules for foreigners buying property vary enormously from one country to another. In some countries, like France and the UK, there are no restrictions on buying property – this means you can buy as a foreigner or a non-resident. The taxes you pay and the process you follow may vary a bit if you’re non resident though.

In other countries, like Singapore, there are stricter rules about land ownership. This may mean that foreigners can buy a leasehold property like a condo but they can’t buy a landed home. Restrictions often also apply on foreigners buying property in areas of special interest, such as national parks or areas near to military or sensitive sites.

If I rent my property abroad, how do I declare the money received?

Rental income is treated similarly to other income by the IRS, and therefore you need to declare the income from renting a foreign property alongside other income and earnings across the tax year. Usually this means completing and filing Schedule E Form 1040. Take tax advice to ensure you complete all the necessary actions based on your specific situation.

What are the best countries to buy real estate?

There’s no single best country to buy real estate – the best country for you will depend on the circumstances. This guide does not include investment advice, so you’ll need to take professional guidance before you buy to make sure you’re making the most of your money, particularly if you’re buying as an investment.

Other reasons to buy include to get a home for you and your family to relocate to or as a vacation home. If you’re planning to relocate, bear in mind that property ownership doesn’t always mean you get a visa – look out for countries which offer a Golden Visa scheme which may make it easier to get a visa if you invest in real estate. Popular countries to buy property in from the US can include Portugal, Italy, France, and the UK – but what’s right for you will depend entirely on your personal preference and circumstances.

Easiest countries to buy property as a foreigner

The rules about buying property as a foreigner vary a lot from one place to another. Here’s a quick summary of a few popular – and relatively simple – places to buy as an American. Do your own research on the country you’re interested in to understand if there are barriers to foreign property ownership there.

Can you get a mortgage on an overseas property?

If you want to get a loan to pay for your new property overseas, you may be able to apply before you leave the US, or in the country you’re buying in. In the US there’s no barrier to a bank offering a loan on a foreign property, but this isn’t always a service that’s offered. You may have more success if you work with a specialist mortgage broker to set up your loan.

If you want to take a local mortgage in the country you’re buying in, you’ll need to check the local bank policies. It’s common for foreign buyers to be asked for higher down payments for example, so do research before you decide to take this route.

5 tips for purchasing property overseas

To finish up we’ll look at some common sense tips for purchasing property overseas, to help make sure everything happens smoothly:

• Understand the law of the country you are buying the property: foreign ownership can be restricted or not allowed at all in some countries
• Exchange rates: before you send any money overseas compare transfer fees and rates across several banks and providers. A small difference in the rate can add up to a huge amount when you send a high value payment
• Seek help from local agents and legal professionals: navigating a foreign property purchase is tricky, and you’ll be best set to get everything over the line with a strong team on the ground in the country you’re buying in
• Send money with a trusted provider: only ever deal with licensed and trusted banks and money transfer services to make sure your funds can be delivered securely and without undue delays
• Be careful of fraud: buyer protections overseas may not be the same as in the US, and foreign buyers may fall victim to fraudsters – get good local advice and educate yourself on common risks and scams before buying

Conclusion: How to purchase a property in another country

Whether you want a new home to live in, a vacation place or an investment overseas, buying a property abroad can be a smart move. The rules and processes for buying property overseas can vary a lot depending on the country you select, so having a strong local team of advisors is essential. Once you’ve found the right place for you, you’ll also need to decide how to pay for your purchase with low fees, great exchange rates and quick, secure deliveries. This guide gives you a few options to consider.

You could send your payment using a bank wire, but this can be inconvenient if you need to visit a branch, and may also come with high costs to transfer and exchange currencies. As an alternative, compare the costs and rates of providers like Wise and OFX which may offer a sleek digital solution to help you send money overseas securely for a low overall cost.

FAQs

What is the best way to transfer large amounts of money abroad?

There’s no single best way to transfer large amounts of money abroad as long as you select a safe and reliable provider. Banks can help you with face to face service and great coverage, but their overall costs may be quite high. Specialists like OFX and Wise offer digital payment solutions which can have below fees and great rates, but you can’t get branch service – weigh up the pros and cons of each to help you decide.

What is the maximum amount I can send money abroad?

Different banks and providers have their own limits on the amount you can send overseas, and local countries may also have restrictions you’ll need to learn about. If your bank has a low limit for digital payments you might want to compare alternatives like OFX which has no upper payment limit, or Wise which has very high limits of over 1 million USD in most cases.

Does the US tax foreign property?

US tax can be complex, and whether or not you need to pay the IRS for your foreign property can depend on multiple factors, including whether you live in it or rent it. Get professional advice to help you navigate this.

Claire Millard

Author

Claire Millard

Fintech Content Writer

Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.

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Seyma Mektepli

Reviewer

Seyma Mektepli

Editor-in-chief

Seyma is an experienced content writer and editor-in-chief at Exiap, delivering informative articles on personal finance, and money transfers.

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Last updated

June 30th, 2025