How to avoid International Wire Transfer Fees [2026]

International bank transfers are convenient but come with complex, variable costs. Your total fee depends on the provider, destination, currency, and speed.

This guide breaks down common transfer fees and compares major US banks with specialist services. Using providers like Wise, Remitly, or XE can often reduce costs and increase delivery speed compared to banks.

Key points: International wire transfer fees

How much does an international money transfer cost? A Comparison

Researching your options is essential to finding the best rate, as transfer fees, exchange rates, and third-party costs vary significantly between providers.

To illustrate the difference, we’ve compared major US banks against specialist services for a common scenario: sending 1,000 USD from the US to a bank account in the UK.

*Fees and rates correct at time of research – 13th February 2026

As you can see, in the example above, your recipient will get more if you send your payment with a specialist provider compared to a bank. Usually this is because of the extra fees rolled up in the exchange rate used to convert your dollars to pounds. These charges are tricky to spot, and push up the costs considerably.

Although using a specialist service can present excellent value, it’s still worth comparing your options every time you send.

Some providers have promotional rates or fees for new customers, for example, which may mean you get a great deal the first time you use them, but the value drops off the more you transfer.

How to avoid international wire transfer fees (and intermediary bank fees)

You may not be able to avoid currency transfer costs entirely – but as we saw in the table above, you can cut the costs of sending an international wire significantly, by using a specialist service.

Specialist currency transfer providers focus only on sending money overseas, and have invested in new ways to process payments, which cuts costs. They can then pass this onto customers in the form of better exchange rates and lower overall costs.

💡 Using a currency transfer provider is extremely simple, too.

You can set up an account and start sending money as soon as your account is verified for security, paying for your transfer directly from your bank account or with a credit or debit card.

Specialist providers are regulated in the US, and, in many cases, the recipient can get money directly into their bank account, pick it up as cash, or enjoy other ways of accessing their funds.

If you want to limit your international money transfer fees, it’s worth checking out providers like Wise, Remitly, OFX, XE and WorldRemit. Here’s why.

Wise – send money overseas using the mid-market rate

With Wise you can send money to 140+ countries, and you’ll get the mid-market exchange rate – the one you might find on Google – with low transparent fees from just 0.57%, when you need to switch your money from US dollars to a different currency.

Wise payments are arranged online or in the Wise app, and can arrive fast – 60%+ of transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1hour*.

If you need more, you can also open a Wise account to hold 40+ currencies, and get paid with local and SWIFT account details in 20+ currencies. Wise is a safe provider which offers 24/7 contact services if you ever need help.

Remitly – send to 170+ countries with variable pick up methods available

Remitly allows customers to send to 170+ countries, including over 40 in Africa.

While delivery speeds do vary, this can be a quick way to get cash into the hands of someone – even if they’re on the other side of the world.

The Remitly transfer limit from the US is a maximum of 100,000 USD – but the amount you can ultimately send may be lower for some payment receive methods.

OFX – specialist transfer service with personalized services

OFX provides a superb online experience for transferring your money, with excellent customer service.

OFX currency transfers are fast and intuitive, they might offer a better exchange rate than the banks and most transfers will be with the recipient in one to two business days.

There’s no upfront fee to send your transfer, although one drawback is that you cannot pay for your transfer with a debit or credit card.

XE – transfer provider without transfer fees or minimum amounts

XE has been around for more than 25 years and has low variable fees for sending money overseas. Costs depend on the details of your payment including value and destination. You can transfer as much as 535,000 USD per payment from the US.

➡️📚 Learn more on Xe money transfer review.

WorldRemit – transfer provider with cash pick-up options

WorldRemit is especially good for transfers to regions such as Asia, Africa and South America, and there’s no minimum transfer amount.

Recipients will also have some choice when it comes to how they receive their funds, like cash pickup, although not all options are available in all countries.

How to avoid intermediary bank fees

Intermediary bank fees – which may also be called correspondent bank fees – can add an extra 15 USD – 30 USD to the total cost of your payment when you send money overseas with the SWIFT network.

The exact fee you’ll pay depends on the way your transfer is routed, which means you might not always be able to know the total cost in advance. Intermediary fees are deducted from the send amount as it’s processed, which means your recipient could get less in the end than you expected.

Intermediary bank fees creep in when your transfer is processed through SWIFT.

In this system, transfers are passed through one or more intermediary banks until they reach their final destination – much like taking connecting flights or trains. Specialist providers like Wise, OFX and XE have often built their own payment networks to avoid SWIFT, which allows them to keep the costs down and process payments faster, too.

Here are a few providers to check out if you want to avoid correspondent bank fees:

Cheapest way to send money internationally

International transfer fees vary widely based on the value of your payment, where you’re sending money to, the amount of money you’re sending, and the specific bank or provider you pick.

You may find that specialist services like Wise, XE and Remitly offer cheaper overall costs, with transparent fees and a better rate compared to a bank.

The easiest way to check which service will be cheapest for your specific transfer is using a comparison tool – such as the Exiap comparison engine which lets you enter your payment details and generate quotes from different services.

Here’s how to use Exiap to find the cheapest option for your transfer:

1. Open the Exiap comparison engine online
2. Enter the country or currency you’re sending money to
3. Enter the amount you need to send
4. Click compare

You’ll be shown a list of providers, ordered by the amount your recipient would receive with each, based on your specific transfer. You can compare your options and then choose what suits you best and go to their site to make the transfer.

➡️ Compare transfer services ⬅️

📲 International wire transfer fees explained 💡

Banks are obliged to tell you the fees you’ll pay for any international bank transfer you make – but the real costs of your payment can still be pretty confusing and complicated, thanks to several different fees and – often – a whole bunch of different ways to set up your transfer.

As a general rule, transferring money in person will be more expensive than doing so online or through your bank’s mobile banking service. You’ll also sometimes find that transferring money to another account within the same bank is cheaper than transferring money to a different bank.

That said, the total cost of sending money overseas can still be pretty staggering. These costs are usually divided into 3 or 4 different fee types – let’s break them down one by one.

1. Sender fees ⬆️

The sender fee – usually described as a transfer fee – is normally transparent and set out in your account terms and conditions. However, sender fees may vary based on how you set up your payment – online or in person, for example – the value of the transfer, and where the money is headed.

2. Receiving fees ⬇️

Depending on how you set up your payment, there are also likely to be receiving fees, including third party charges and costs applied by the recipient’s own bank.

In some cases, the sender can choose to cover some or all of these third party fees – but if not, they’re effectively paid by the recipient, as they are deducted from the payment before it’s deposited. That means the recipient gets less than you might expect.

3. Intermediary bank fees (or correspondent bank charges) 🏦

If your transfer is processed through the SWIFT network, you may find that intermediary bank fees also creep in. These are paid to intermediary banks which help to process your transfer – and can’t always be predicted in advance.

Because these charges are often deducted from the amount sent as it’s passed through the SWIFT network, this may mean your recipient gets less than you expected in the end.

Later on we’ll give some tips on how to avoid intermediary bank charges.

4. Exchange rate markups and currency conversion fees 💱➕

Finally you’ll usually run into exchange rate fees when you send a payment overseas with a bank. These costs can be called an exchange rate markup or spread. Exchange rate fees are tricky to spot as they are usually a percentage fee added onto the exchange rate applied to change your dollars to the currency you need.

⚠️ Exchange rate fees can mount up quickly – until they’re often the highest of all the fees you’ll pay on your transfer.

In general, the overall costs of sending an overseas transfer with a bank can be less transparent than using a specialist provider like Wise or OFX. Specialist services also tend to offer better exchange rates compared to the banks – some, like Wise, use the mid-market rate, and split out the full costs of the payment transparently so it’s easy to check and compare.

Here’s a reminder of how the providers we picked earlier handle exchange rates:

How to avoid incoming international wire transfer fees

It’s worth checking with your bank if they have any incoming wire transfer fee. Fees vary a lot, with some banks waiving the costs – at least for low value payments. To give an idea, though, Bank of America has incoming wire transfer fees of 15 USD for local and overseas wires. This can mean you get less than you expect in the end.

A smart alternative is to use multi currency accounts like the Wise Account to get local account details in foreign currencies to get paid for free or with low fees. Your account will come with local or SWIFT payment details, which you can give to the person sending you money.

These details include all the sender needs to process a local payment in their home currency. If you’re getting paid from the UK, you’ll get an account number and sort code, for example, which your British friend can use to send a local payment in GBP. You’ll receive the money without currency conversion, and can then spend it, hold it, or convert it whenever you’re ready to.

With a Wise account specifically, you’ll be able to get local account details in 8+ currencies, plus SWIFT details for other currencies. You can give these to anyone sending you money to receive payments to your account easily, and with low or no fees. Hold your balance, convert and withdraw, or use it the next time you need to send money to someone else overseas.

➡️📚 Learn more about How to receive money internationally with Wise Account.

How to transfer money internationally without fees

As a general rule, it’s not possible to transfer money internationally without fees, because even services that claim to offer fee-free services charge fees which are rolled up into the exchange rate being used to convert your currency.

Some providers offer promotional rates for new customers, though, which could offer a lower cost way to try a new service. You may even get a fee-free transfer.

➡️📚Learn more: How to send a free international money transfer

What factors impact the cost of international bank transfer fees?

When you send money overseas, there are several factors that can influence how much you’ll pay:

Conclusion

Sending a payment overseas with your bank may be safe and familiar – but it could mean you’re in for higher fees and a worse exchange rate, compared with a specialist service like Wise or Remitly.

Banks usually arrange payments through SWIFT, which can mean you pay several different charges, and a fairly slow delivery time of 3 to 5 days.

Specialist providers on the other hand, have come up with alternative ways to process payments, which brings down the overall cost – and which means they can often offer better exchange rates, too.

We also have guides on international transfer services of major banks in the US:

• Bank of America International Wire Transfer
• Capital One International Wire Transfer
• Charles Schwab International Wire Transfer
• Chase International Wire Transfer
• Citibank International Wire Transfer
• Fidelity International Transfer
• Fifth Third Bank International Wire Transfer
• Navy Federal International Wire Transfer
• PNC International Transfer
• TD Bank International Wire Transfer
• Truist International Wire Transfer
• USAA International Transfer
• Wells Fargo International Wire Transfer
• Ally Bank International Wire Transfer
• Santander International Wire Transfer

Useful resources

Last checked 13th February 2026

• Wise – Landing page for Wise services including transfers and accounts
• Remitly – Learn more about Remitly services to send money to banks and for cash collection
• OFX – Personal service landing page from OFX featuring 24/7 phone details
• XE – Get pricing and details of XE money transfer services from the US
• WorldRemit – Landing page covering all of Worldremit services in the US
• Bank of America – Fee schedule for details of wire costs with a major US bank as an example

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.

Read more

Last updated

March 30th, 2026