The fastest and cheapest way depends on the amount and how quickly the recipient needs it
You have four main routes: a wire transfer through your US bank (fast, expensive), an international money transfer service like Wise or OFX (slower, cheaper), a peer-to-peer app like PayPal (variable speed and cost), or a check mailed to the UK (very slow, rarely worth it). Wire transfers arrive in one to three business days but cost $25 to $50 per transfer. Money transfer services take three to five business days and charge lower fees—often 1 to 3 percent of the amount—but give you a worse exchange rate than the mid-market rate. The choice comes down to whether you prioritize speed or cost.
Before you move any money, you need the recipient's UK bank details: their full name, account number (IBAN), and bank sort code. If you're sending to a business, ask for their payment reference or invoice number. Have this information ready before you start, because you'll enter it exactly as the recipient provides it—a typo in the account number can delay the transfer or send it to the wrong account.
Key Takeaways
- Wire transfers through your US bank are fastest (one to three business days) but cost $25 to $50 and give you a poor exchange rate.
- International money transfer services like Wise, OFX, and Remitly are cheaper (1 to 3 percent fees) but take three to five business days and require you to set up an account.
- You must have the UK recipient's IBAN, account number, and sort code before you start—a wrong digit can send money to the wrong account.
- PayPal and other peer-to-peer apps work for smaller amounts but charge variable fees and often give worse exchange rates than specialist transfer services.
Wire transfer through your US bank: fastest but most expensive
Call your bank or log into online banking and request an international wire transfer. You'll provide the recipient's name, IBAN, sort code, and the amount in US dollars. Your bank will convert the dollars to pounds at their own exchange rate—which is typically 2 to 4 percent worse than the mid-market rate—and deduct the wire fee ($25 to $50) from the amount you send. The recipient receives the money in their UK account in one to three business days, usually by the next business day if you send before 2 p.m. Eastern Time.
Wire transfers are irreversible once sent, so confirm the recipient's details with them before you initiate. If the account number is wrong, the money may be rejected and returned to you (which takes another week), or it may sit in a suspense account at the receiving bank. Your US bank cannot recover money sent to the wrong account—the receiving bank in the UK has to investigate, and that process takes weeks.
International money transfer services: cheaper for larger amounts
Services like Wise, OFX, Remitly, and MoneyGram let you send money online without using your bank. You create an account, enter the recipient's UK bank details, and the service converts your dollars at the mid-market rate (or very close to it) and charges a flat fee plus a small percentage. Wise typically charges 0.5 to 1.5 percent; OFX charges 1 to 2 percent; Remitly charges 1.5 to 3 percent depending on the speed you choose. The transfer takes three to five business days for the standard option, or one to two business days if you pay for expedited delivery.
These services are cheaper than wire transfers for amounts over $1,000. For example, sending $5,000 via wire might cost you $40 in fees plus $200 in exchange-rate markup (4 percent of $5,000). The same transfer through Wise might cost $50 to $75 total. The tradeoff is that you wait longer and you have to set up an account and verify your identity, which takes a few minutes to a few hours depending on the service.
Each service has different verification requirements. Wise and OFX ask for your name, address, and a photo ID; some also ask for proof of address (a utility bill or bank statement). Remitly has similar requirements. The verification is one-time—once you're approved, you can send multiple transfers without repeating it. Check the service's website for the current list of documents they need.
PayPal and peer-to-peer apps: convenient for small amounts
If you and the recipient both have PayPal accounts, you can send money directly through the app. PayPal charges 3.5 percent plus $0.30 for international transfers, and the recipient receives the money in one to three business days. The exchange rate is set by PayPal and is usually 2 to 3 percent worse than mid-market. This is convenient if you both already use PayPal, but it's more expensive than Wise or OFX for amounts over $500.
Other apps like Venmo, Square Cash, and Google Pay do not support international transfers to the UK, so PayPal is your only peer-to-peer option. If the recipient does not have PayPal, they would need to create an account to receive the money, which adds friction.
Checks and other slow methods: rarely the right choice
You can mail a check drawn on your US bank account to the UK, but the recipient's UK bank will take two to four weeks to clear it, and many UK banks now refuse to accept checks from outside the UK. If the bank does accept it, they may charge a clearing fee ($15 to $30) and give you a poor exchange rate. This method is slow, unreliable, and expensive—use it only if the recipient specifically requests it and you have no other option.
Some people ask whether they can deposit a US check into a UK bank account online. Most UK banks do not offer mobile check deposit for foreign checks, and those that do charge high fees and take weeks to clear. Do not rely on this method.
Comparing costs: wire transfer vs. transfer service vs. PayPal
| Method | Fee | Exchange Rate | Speed | Best for |
|---|---|---|---|---|
| Wire transfer (US bank) | $25–$50 | 2–4% worse than mid-market | 1–3 business days | Urgent transfers under $2,000 |
| Wise | 0.5–1.5% | Mid-market or very close | 3–5 business days | Any amount, no rush |
| OFX | 1–2% | Mid-market or very close | 3–5 business days | Larger amounts ($5,000+) |
| Remitly | 1.5–3% | 1–2% worse than mid-market | 1–5 business days (varies by speed) | Small to medium amounts |
| PayPal | 3.5% + $0.30 | 2–3% worse than mid-market | 1–3 business days | Small amounts if both have PayPal |
What to do if the transfer goes wrong
If you send a wire transfer and the recipient says they did not receive it, contact your US bank immediately. Ask them to trace the transfer using the SWIFT code and the recipient's IBAN. The bank will contact the receiving bank in the UK to find out whether the money arrived in a suspense account or was rejected. This process takes five to ten business days. If the money was rejected, it will be returned to your account (another five to ten days). If it's in a suspense account, the receiving bank may be able to release it to the correct account if you provide proof of the error.
If you use a money transfer service like Wise and the transfer does not arrive, contact the service's customer support immediately. Most services offer a money-back may provide if the transfer does not arrive within the promised timeframe. Wise, for example, will refund your fee if the transfer takes longer than promised. Keep your confirmation number and all receipts until the recipient confirms they received the money.
If you sent money to the wrong account, you cannot recover it through your bank or the transfer service. The receiving bank in the UK has to investigate, and they will only release the money if the account holder agrees. This can take weeks or months, and there is no may provide of recovery. Always confirm the recipient's details before you send.
Frequently Asked Questions
Can I send money from a US bank account to a UK PayPal account?
Yes, if you both have PayPal accounts. Log into PayPal, click "Send Money," enter the recipient's email address, and choose the international transfer option. PayPal will charge 3.5 percent plus $0.30 and convert the money at their exchange rate. The recipient receives it in one to three business days.
What is an IBAN and where do I find it?
An IBAN is an International Bank Account Number—a standardized format for bank accounts outside the US. UK IBANs are 22 characters long and start with "GB". The recipient can find their IBAN on their bank statement, in their online banking portal, or by asking their bank. Do not guess or abbreviate it; enter it exactly as provided.
Do I need a UK bank account to receive money from the US?
Yes, the recipient needs a UK bank account (current account or savings account) to receive a wire transfer or money transfer service payment. They cannot receive money into a PayPal account alone—PayPal will eventually ask them to link a UK bank account to withdraw the funds.
How much does it cost to send $1,000 to the UK?
It varies by method. A wire transfer costs $25 to $50 in fees plus 2 to 4 percent in exchange-rate markup (roughly $20 to $40), totaling $45 to $90. Wise costs roughly $10 to $15 in fees with a near-mid-market rate. PayPal costs roughly $35 to $40. For $1,000, Wise is the cheapest option.
Can I cancel a transfer after I send it?
Wire transfers cannot be cancelled once sent—the money is on its way and your bank cannot stop it. Money transfer services like Wise may allow you to cancel within a few minutes of sending, before the money leaves your account, but once it's in transit you cannot cancel. Always double-check the recipient's details before you confirm the transfer.