Yes, you can send money to an international bank account, but the method, cost, and speed depend on where the account is and which bank or service you use
The most common ways are wire transfers through your bank, money transfer services like Western Union or MoneyGram, online platforms like Wise or PayPal, and cryptocurrency exchanges. Each has different fees, exchange rates, and delivery times. A wire transfer might take three to five business days and cost $15 to $50. A money transfer service might deliver cash in minutes but charge 5 to 10 percent of the amount. Wise and similar platforms often have lower fees but require the recipient to have a bank account.
The speed and cost also depend on whether the receiving country has a developed banking system with direct connections to US banks. Transfers to Canada, the UK, or Western Europe are usually faster and cheaper than transfers to smaller nations or countries with limited banking infrastructure.
Key Takeaways
- Wire transfers through your bank are the most direct method but typically cost $15 to $50 and take three to five business days.
- Money transfer services like Western Union and MoneyGram can deliver cash in minutes but often charge 5 to 10 percent of the amount sent.
- Online platforms like Wise and Remitly usually offer better exchange rates and lower fees than traditional banks, but require the recipient to have a bank account.
- You will need the recipient's full name, bank account number, routing or SWIFT code, and the bank's address to send money internationally.
- Transfers to countries with less developed banking systems take longer and may cost more than transfers to major financial centers.
Wire transfers through your US bank
A wire transfer is a direct electronic payment from your bank account to the recipient's bank account. You go to your bank in person, by phone, or through online banking, provide the recipient's banking details, and the money moves through the banking system. Most US banks offer this service, though some smaller banks may charge extra or require you to visit a branch.
The cost is usually $15 to $50 depending on your bank and whether the transfer is domestic or international. The recipient's bank may also charge a fee to receive the money, typically $10 to $25. The transfer usually takes three to five business days, though some banks offer expedited service for an extra fee. You will need the recipient's full name, bank account number, the bank's SWIFT code (an international identifier), and sometimes the bank's address.
Wire transfers are reliable and work to almost every country, but they are not reversible once sent. If you enter the wrong account number, the money may be lost or take weeks to recover. Always confirm the recipient's details before you send.
Money transfer services for cash pickup
Western Union and MoneyGram let you send money that the recipient picks up in cash at a local agent location. You can send money online, by phone, or in person at a Western Union or MoneyGram office. The recipient does not need a bank account — they just need to go to an agent location with ID and a reference number you provide.
These services are fast: money can be available for pickup in minutes to a few hours. The trade-off is cost. Fees are usually 5 to 10 percent of the amount sent, sometimes higher for smaller amounts or certain countries. A $500 transfer might cost $25 to $50. Exchange rates are also typically worse than what you would get at a bank or online platform.
Western Union and MoneyGram operate in most countries, making them useful when the recipient does not have a bank account or lives in a place with limited banking access. However, they are most expensive for large transfers. For amounts over $1,000, a wire transfer or online platform usually costs less.
Online money transfer platforms
Services like Wise, Remitly, OFX, and Xe are designed for international transfers and typically offer better exchange rates and lower fees than banks. You set up an account online, link your US bank account, and send money to the recipient's bank account. Most of these services charge a flat fee ($1 to $5) plus a small percentage of the amount, or a single fee that covers both.
Delivery time is usually one to three business days, depending on the country and the recipient's bank. The recipient must have a bank account to receive the money. These platforms work best for regular transfers or larger amounts, where the fee savings add up. For a $2,000 transfer, Wise might charge $20 to $30 total, while a bank wire could cost $40 to $60.
Each platform operates in different countries, so check whether your recipient's country is supported before you open an account. Wise covers over 80 countries, while Remitly focuses on specific regions like Latin America, Asia, and Africa.
PayPal and other payment apps
PayPal lets you send money internationally if both you and the recipient have PayPal accounts. You log in, enter the recipient's email or phone number, and send the money. The recipient can keep it in their PayPal account or transfer it to their bank account. Fees vary by country but are usually 2 to 5 percent plus a small fixed amount.
PayPal is convenient if both parties already use the service, but it is not always the cheapest option. The recipient may also face fees when they withdraw money to their bank account, depending on their country. PayPal is most useful for smaller amounts or when speed is less important than convenience.
Other apps like Square Cash, Venmo, and Google Pay work domestically in the US but do not support international transfers to bank accounts outside the country. They are not options for sending money abroad.
Information you need to send money internationally
Regardless of which method you choose, you will need accurate information about the recipient and their bank. For a wire transfer or online platform transfer, you need the recipient's full legal name (exactly as it appears on their bank account), their bank account number, the bank's SWIFT code or BIC code (an eight or eleven-character code that identifies the bank internationally), and sometimes the bank's address or branch code.
For money transfer services like Western Union, you need the recipient's full name and ID type, but not their bank details. For PayPal, you need their PayPal email or phone number. Always double-check spelling and numbers — a single digit wrong in an account number can send money to the wrong person or cause the transfer to fail.
If you are unsure about the recipient's bank details, ask them to provide a blank check or a bank statement showing their account number and the bank's SWIFT code. Many banks also let you look up SWIFT codes on their website or through a SWIFT code directory online.
Comparing cost and speed across methods
| Method | Typical Cost | Delivery Time | Recipient Needs Bank Account |
|---|---|---|---|
| Wire transfer (bank) | $15–$50 | 3–5 business days | Yes |
| Western Union / MoneyGram | 5–10% of amount | Minutes to hours | No |
| Wise / Remitly | $1–$5 + 0.5–2% | 1–3 business days | Yes |
| PayPal | 2–5% + fixed fee | 1–3 business days | Yes (for bank withdrawal) |
For small amounts under $500, money transfer services are often fastest even if they cost more. For amounts over $1,000, online platforms like Wise usually offer the best value. Wire transfers are reliable but slower and more expensive than online alternatives. Choose based on how fast you need the money to arrive, how much you are sending, and whether the recipient has a bank account.
What to do if a transfer fails or takes too long
If a wire transfer does not arrive within the expected timeframe, contact your bank immediately. Provide the confirmation number, the recipient's details, and the date you sent it. Your bank can trace the transfer through the international banking system and find out where it is stuck. This can take a week or more, so be patient.
If you sent money to the wrong account number, contact your bank right away. Some banks can recall the transfer if it has not been claimed, but this is not may provide. The longer you wait, the less likely recovery becomes. For money transfer services, contact their customer service with your reference number — they may be able to stop the payment if the recipient has not picked it up yet.
If you used an online platform and the transfer failed, the money is usually returned to your account within a few business days. Check your account and contact the platform's support if the refund does not appear. Keep all confirmation emails and reference numbers until the money reaches the recipient.
Frequently Asked Questions
Do I need to report international money transfers to the IRS or FinCEN?
If you send more than $10,000 in a single transfer or multiple transfers that total over $10,000 in a calendar year, your bank must file a Currency Transaction Report (CTR) with FinCEN. This is automatic and does not mean you have done anything wrong — it is a standard reporting requirement. You do not file anything yourself; your bank handles it.
What is the difference between a SWIFT code and a routing number?
A routing number is a nine-digit code used for domestic US transfers. A SWIFT code (also called a BIC code) is an eight or eleven-character code used for international transfers. Every bank has a SWIFT code. You need the SWIFT code to send money internationally, not the routing number.
Can I send money to a country that the US has sanctions against?
No. US banks and money transfer services cannot send money to countries under US government sanctions, including Iran, North Korea, Syria, and Cuba. Attempting to do so will result in the transfer being blocked or reversed. Check the US Treasury Department's list of sanctioned countries if you are unsure.
Will the recipient pay taxes on money I send them?
That depends on the recipient's country and their tax laws. In most cases, personal transfers between family members are not taxable income. However, if the money is payment for services or a business transaction, it may be taxable in the recipient's country. The recipient should check their local tax laws or consult a tax professional in their country.
How do I know if an online money transfer service is safe?
Look for services that are registered with FinCEN as a Money Services Business, have clear fee structures on their website, and offer customer support by phone or email. Read recent reviews on independent sites, not just the company's own website. Avoid services that pressure you to send money quickly or that ask for unusual information like your Social Security number upfront.