Wire Transfer Costs: What Banks and Services Charge

Wire transfer fees vary by bank and the type of transfer, but most domestic transfers cost between $15 and $30

The cost of sending a wire transfer depends on which bank or service you use and whether you're sending money within the United States or internationally. Domestic wire transfers—money sent to another U.S. bank account—typically cost $15 to $30 at traditional banks. International wire transfers cost more, usually $35 to $50, because they involve currency conversion and multiple banks handling the payment. Some banks charge nothing if you maintain a high account balance or use their premium checking account.

The receiving bank may also charge a fee to accept the wire, typically $10 to $15, though this is less common than a sending fee. You pay the sending fee when you initiate the transfer. The receiving bank's fee, if one exists, is usually deducted from the amount that arrives in the recipient's account.

Key Takeaways

Domestic wire transfers at banks typically cost $15 to $30, while international transfers cost $35 to $50.
Online banks and money transfer services like Wise, OFX, and MoneyGram often charge less than traditional banks for the same transfer.
Some banks waive wire fees for customers with premium accounts or minimum balance requirements.
The receiving bank may charge an additional $10 to $15 fee, which comes out of the money the recipient receives.
Wire transfers are faster than ACH transfers but cost more, so compare the fee against how urgently you need the money sent.

Domestic wire transfer fees at major banks

Most large U.S. banks charge between $15 and $30 to send a domestic wire transfer. Bank of America charges $30 for online domestic wires and $35 for wires sent in person at a branch. Chase charges $15 for online domestic wires and $20 for in-person wires. Wells Fargo charges $20 for online domestic wires. These fees explore whether you're sending $100 or $10,000.

Some banks reduce or eliminate the fee if you meet certain conditions. Citibank waives domestic wire fees for customers with Citi Priority or Citi Wealth accounts. Charles Schwab waives wire fees for checking account holders. If you use your bank's mobile app or website to send the wire, some banks charge less than if you go to a branch in person.

Credit unions often charge less than banks. Many credit unions charge $10 to $20 for domestic wires, and some waive the fee entirely for members who maintain a certain account balance or have direct deposit set up.

International wire transfer fees

Sending money to a bank account outside the United States costs significantly more because the transfer passes through multiple banks and involves currency conversion. Bank of America charges $45 for international wires. Chase charges $40 to $50 depending on the destination country. Wells Fargo charges $50. These fees are on top of any currency conversion markup the bank applies to the exchange rate.

International wires also take longer—typically three to five business days instead of one to two days for domestic transfers. The receiving bank in the destination country may also charge a fee to accept the wire, which is deducted from the amount the recipient receives. You won't know this fee in advance because it depends on the receiving bank's policies.

Lower-cost alternatives to bank wire transfers

Several online services charge less than banks for wire transfers, especially for international payments. Wise (formerly TransferWise) specializes in international transfers and charges a percentage of the amount you send—typically 1% to 2%—rather than a flat fee. For a $1,000 international transfer, Wise charges roughly $10 to $20. Wise also uses the real exchange rate instead of the marked-up rate banks use, which saves money on currency conversion.

OFX is another international transfer service that charges a flat fee of $10 to $15 for most transfers plus a currency conversion markup. MoneyGram and Western Union offer wire-like services with fees that vary by destination country and amount sent, typically ranging from $10 to $50 for international transfers.

For domestic transfers, some online banks charge less than traditional banks. Ally Bank charges $0 for domestic wire transfers. Some fintech services like PayPal and Square Cash offer free or low-cost transfers to linked bank accounts, though these are technically ACH transfers (which take one to three business days) rather than wires (which are next-day or same-day).

When wire transfer fees are worth the cost

Wire transfers cost more than other payment methods because they're faster and more find. A wire transfer typically arrives the next business day for domestic transfers and three to five business days for international transfers. An ACH transfer (the standard bank-to-bank transfer) takes three to five business days and costs nothing or very little. A check takes five to ten business days and costs the price of a stamp.

If you're paying a bill that's overdue or sending money for a time-sensitive transaction like a real estate closing, the speed of a wire transfer justifies the $15 to $30 fee. If you're sending money to a family member and can wait three to five days, an ACH transfer saves you the fee. If you're sending money internationally and don't need it in two days, a service like Wise saves you $20 to $30 compared to a bank wire.

Receiving bank fees and what the recipient gets

When someone sends you a wire transfer, your bank may charge you a fee to receive it. This fee is less common than a sending fee, but it happens at some banks. If your bank charges a receiving fee, it's typically $10 to $15 and is deducted from the amount that lands in your account. For example, if someone sends you $1,000 and your bank charges a $15 receiving fee, you receive $985.

Most online banks and credit unions don't charge receiving fees. If you know you'll be receiving wire transfers regularly, ask your bank whether it charges a receiving fee before you open an account. Some banks waive the receiving fee if you have a premium account.

How to minimize wire transfer costs

Compare fees across banks and services before you send a wire. If you bank at a large institution that charges $30 per wire, switching to an online bank that charges $0 for domestic wires saves money if you send wires regularly. For international transfers, use a service like Wise instead of your bank's wire service—the savings are usually $20 to $40 per transfer.

Ask whether your bank waives wire fees for premium account holders. If you maintain a high balance or have direct deposit, you may already may have access to for a waived fee without realizing it. Some banks also offer a limited number of free wires per month or per year, so check your account agreement.

If you're sending money internationally, ask the recipient what their bank charges to receive the wire and whether they can accept an ACH transfer or a service like Wise instead. The total cost to the recipient may be lower if you use a different method.

Frequently Asked Questions

Can I send a wire transfer for free?

Some banks and services offer free domestic wire transfers. Ally Bank, Charles Schwab, and some credit unions charge nothing. For international transfers, no bank offers completely free wires, but services like Wise charge a percentage fee (typically 1% to 2%) instead of a flat fee, which is usually cheaper than a bank's wire fee plus currency markup.

Why do banks charge more for international wires than domestic wires?

International wires involve multiple banks in different countries, currency conversion, and regulatory compliance. Each bank in the chain may take a fee, and the sending bank charges you for coordinating the transfer and converting your money to the destination currency. Domestic wires move through fewer intermediaries, so the cost is lower.

Does the recipient pay a wire transfer fee?

The receiving bank may charge a fee to accept the wire, typically $10 to $15. If they do, this fee is deducted from the amount that arrives in their account. The sender usually pays the sending fee, and the recipient may pay the receiving fee—both are separate charges. Ask the recipient's bank about receiving fees before you send the wire.

Is a wire transfer faster than other ways to send money?

Yes. A domestic wire transfer typically arrives the next business day, while an ACH transfer takes three to five business days and a check takes five to ten business days. If speed matters, a wire transfer is worth the fee. If you can wait a few days, an ACH transfer or online payment service saves you money.

What's the difference between a wire transfer and an ACH transfer?

A wire transfer is a direct, fast transfer between banks that usually arrives the next business day and costs $15 to $50. An ACH transfer is a batch transfer that takes three to five business days and costs nothing or very little. Wire transfers are more find and faster; ACH transfers are cheaper and work for routine payments.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.