Yes, you can receive money from abroad, but the method and timeline depend on where the money is coming from and which bank you use

Money sent from another country can land in your U.S. bank account through several routes: wire transfer, international ACH, money transfer services like Western Union or MoneyGram, or peer-to-peer apps. Wire transfers are fastest (usually one to three business days) but cost the most. International ACH is cheaper but slower (five to ten business days). The sender's bank, your bank, and the country of origin all affect how long it takes and what you pay in fees.

Your bank account itself does not need to be special—any checking or savings account can receive international money. What matters is having the correct routing information to give the sender. You will need your account number, routing number, and sometimes your bank's SWIFT code (a code that identifies your bank internationally). Some banks charge a receiving fee; others do not. Check with your bank about whether they charge to receive international transfers and what their fees are.

Key Takeaways

  • Wire transfers arrive fastest (one to three business days) but typically cost $15 to $50 per transfer.
  • International ACH transfers cost less but take five to ten business days and are not available from all countries.
  • You need your account number, routing number, and sometimes your bank's SWIFT code to receive money from abroad.
  • Your bank may charge a receiving fee, and the sender's bank may charge a sending fee—ask both banks about costs before the transfer.
  • Money transfer apps and services are often faster and cheaper for smaller amounts but may have daily or monthly limits.

Wire transfers: fastest but most expensive

A wire transfer moves money directly from one bank to another using the SWIFT network or the Federal Reserve's system. The sender's bank pulls the money from their account and sends it to your bank, which deposits it into your account. This usually takes one to three business days, though some banks offer same-day wires for an extra fee.

Wire transfers are reliable and secure, but they cost money. Your bank typically charges $15 to $50 to receive a wire, and the sender's bank charges $15 to $50 to send one. The sender's bank may also deduct an intermediary fee if the money passes through a correspondent bank (a bank that handles the transfer on behalf of the sending bank). These fees add up quickly for large amounts.

To receive a wire, give the sender your bank's name, your account number, your routing number, and your bank's SWIFT code. Some banks also ask for your full legal name and address. Double-check all details with your bank before giving them to the sender—a mistake in the account number can send the money to the wrong place, and recovering it takes weeks.

International ACH: slower but cheaper

International ACH (Automated Clearing House) works like a domestic ACH transfer but crosses borders. The sender's bank submits the transfer through an international clearing network, and your bank receives it five to ten business days later. The cost is much lower than a wire—often $0 to $10 per transfer—which makes it popular for regular payments like salary or family support.

Not all banks offer international ACH, and not all countries can send through it. Canada, Mexico, and the United Kingdom are common sources, but many other countries do not have ACH agreements with U.S. banks. Ask your bank whether they accept international ACH and from which countries. Ask the sender's bank whether they can send via international ACH to the United States.

International ACH requires the same information as a wire: your account number, routing number, and sometimes your bank's SWIFT code. The slower timeline means the money is in transit longer, so plan ahead if you need the funds by a specific date.

Money transfer services: good for smaller amounts

Services like Western Union, MoneyGram, Wise (formerly TransferWise), and OFX let the sender pay in their home country and you receive the money in your U.S. bank account. The sender goes to a branch, uses a website, or calls, and you pick up the money or it deposits directly into your account. These services often have better exchange rates than banks and lower fees for amounts under $1,000.

Speed varies. Some services deposit to your account within one business day; others take three to five. Fees depend on the amount and the country—a $500 transfer from Canada might cost $10, while the same amount from the Philippines might cost $25. The sender pays most or all of the fee, not you.

Most of these services have daily or monthly limits on how much you can receive. Wise, for example, may limit you to $10,000 per month when you first start using the service. Ask the sender which service they prefer and check that service's limits and fees before they send.

Peer-to-peer apps: fastest for small transfers between individuals

Apps like PayPal, Wise, and Remitly let individuals send money directly to your account or to the app itself. If the sender has a PayPal account and you have one, they can send you money in minutes. Wise is designed for international transfers and often has the best exchange rates. Remitly specializes in money sent from abroad to family in the U.S.

These apps usually charge lower fees than banks—often $0 to $5 for transfers under $500. The money arrives within one business day, sometimes instantly. However, most apps have daily limits ($2,000 to $10,000 per day, depending on the app and how long you have used it) and may require you to verify your identity before you can receive large amounts.

The sender does not need to use the same app as you. Many apps let the sender pay through their bank account or debit card and the money arrives in your bank account, not just in the app. Ask the sender which app they have or prefer, then check that app's fees and limits.

What happens when the money arrives

Once the transfer is sent, you can usually track it. Wire transfers show up in your bank's online portal within hours. International ACH transfers may not appear until the money actually lands. Money transfer services send you an email or text when the transfer is ready to pick up or has been deposited.

The money is yours to use once it appears in your account. There is no hold period for international transfers the way there sometimes is for domestic checks. However, if the transfer is very large or unusual for your account, your bank may flag it for fraud review and temporarily hold it while they verify it is legitimate. This usually takes 24 to 48 hours. If this happens, your bank will contact you.

Keep records of the transfer: the sender's name, the amount, the date sent, the date received, and the method used. If there is a dispute or the money does not arrive, you will need this information to trace it.

Fees and exchange rates: what you actually pay

International transfers involve multiple fees. The sender's bank charges a sending fee. Your bank may charge a receiving fee. If the money passes through a correspondent bank, that bank takes a cut. The exchange rate—the price of converting foreign currency to U.S. dollars—also affects how much you receive.

Banks often use a worse exchange rate than the real market rate, which means you lose money on the conversion. Wise and some other money transfer services use the real market rate (called the mid-market rate), which is why they are often cheaper overall even if the upfront fee is higher.

Ask your bank what they charge to receive an international transfer and what exchange rate they use. Ask the sender's bank what they charge to send. Add these together and compare to what a money transfer service would charge for the same amount. The cheapest option depends on the amount, the country, and the speed you need.

What to do if the money does not arrive

If the transfer does not arrive within the expected timeframe, contact your bank first. Give them the sender's name, the amount, the date it was sent, and the method used. Your bank can check whether the transfer has been received and where it is in the process. If it has arrived but is on hold, they can tell you why and how long the hold will last.

If your bank has not received it, ask them to trace it. They will contact the sender's bank and the intermediary banks to find out where the money is. This can take one to two weeks. In the meantime, ask the sender to contact their bank and confirm the transfer was sent correctly. A mistake in your account number or routing number is the most common reason money does not arrive.

If the money was sent to the wrong account, recovery is difficult. The bank that received it will not release it without a court order. The sender may be able to file a claim with their bank, but this takes time. Always verify your account details with your bank before giving them to the sender.

Frequently Asked Questions

Do I need a special bank account to receive money from abroad?

No. Any checking or savings account can receive international money. You do not need to open a new account or do anything special with your bank beforehand. Just make sure your bank accepts international transfers—most do, but a few smaller banks or credit unions may not.

What information do I give the sender?

Give them your account number, routing number, and your bank's name. Some banks also ask for your SWIFT code. Ask your bank which details to provide before you give them to the sender. Do not give your Social Security number or PIN.

How much does it cost to receive money from abroad?

Your bank may charge $0 to $15 to receive a wire transfer. International ACH is usually free or costs $5 to $10. Money transfer services charge the sender, not you, so you receive the full amount. Ask your bank about their receiving fees before the transfer is sent.

Can I receive money if I do not have a bank account?

Yes, through money transfer services. Western Union and MoneyGram let you pick up cash at a branch without a bank account. Some services also offer prepaid debit cards that the money can be deposited into. However, having a bank account is faster and safer.

What if the sender sends money to the wrong account number?

The money will go to whoever owns that account. You will not receive it. The sender will need to contact their bank and file a claim to try to recover it. This can take weeks or months. Always verify your account number with your bank before giving it to the sender.