Yes, you can transfer money to an international bank account, but the method, cost, and speed depend on where the account is and which bank you use

International transfers are possible from most US banks, but they are not the same as sending money to another US account. Your bank will route the money through a network of correspondent banks, which adds time and fees. A transfer that takes one business day domestically can take five to ten business days internationally. Costs range from $15 to $50 per transfer, plus currency conversion fees if you are sending to a non-USD account.

The most common methods are wire transfer, international ACH, and money transfer services like Wise or MoneyGram. Each has different speed, cost, and minimum amount requirements. Choosing the right one depends on how much you are sending, how fast you need it to arrive, and whether the receiving bank participates in the network your US bank uses.

Key Takeaways

  • Wire transfers are fastest (one to three business days) but cost $25 to $50 and require the receiving bank's SWIFT code and IBAN or account number.
  • International ACH transfers cost less ($5 to $15) but take seven to ten business days and only work to banks in certain countries.
  • Money transfer services like Wise, OFX, and Remitly often have lower fees than banks for smaller amounts but may charge a percentage of the transfer amount.
  • Currency conversion happens at the point of transfer, and your bank's exchange rate is usually worse than the mid-market rate, costing you extra.
  • You will need the recipient's full name, account number, bank name, and either a SWIFT code or IBAN depending on the country.

Wire transfer: fastest but most expensive

A wire transfer is the most direct route and usually arrives in one to three business days. Your US bank sends the money through the SWIFT network (Society for Worldwide Interbank Financial Telecommunication) to the receiving bank. The receiving bank then deposits it into the recipient's account.

Wire transfers cost between $25 and $50 at most major US banks. Some banks charge less for transfers within certain countries or to banks they have a direct relationship with. You will need to provide the recipient's full legal name, account number, bank name, and the receiving bank's SWIFT code. For some countries, you will also need the IBAN (International Bank Account Number), which is a standardized account identifier used in Europe and many other regions.

The main drawback is cost and the fact that wire transfers 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 account details with the recipient before initiating the transfer.

International ACH: cheaper but slower

International ACH (Automated Clearing House) transfers cost $5 to $15 and are cheaper than wire transfers, but they take seven to ten business days. Not all banks offer this service, and it only works to banks in Canada, Mexico, and a few other countries. Check with your bank whether they support international ACH to the country you need.

The process is similar to a domestic ACH transfer: you provide the recipient's account number and routing information, and your bank submits the transfer to the ACH network. Because it moves through the same clearing system as domestic transfers, it is slower but cheaper. This option works best if you have time and are sending to a country where your bank has ACH agreements in place.

International ACH is not available from all banks, so call your bank's international services line to confirm they offer it before you plan to use it.

Money transfer services: lower fees for smaller amounts

Services like Wise, OFX, Remitly, and MoneyGram often charge less than banks for transfers under $10,000. Wise, for example, charges a small percentage of the amount plus a fixed fee, and uses the mid-market exchange rate rather than the bank's marked-up rate. For a $1,000 transfer, you might pay $10 to $25 instead of $35 to $50 at a bank.

These services work by holding money in accounts in both countries and matching transfers, which reduces the number of banks involved and cuts costs. Speed varies: Wise typically delivers in one to two business days, while Remitly and MoneyGram may take three to five days depending on the destination country and how you fund the transfer.

The trade-off is that you have to create an account with the service and link your US bank account or debit card. These services are regulated but are not banks, so your money is not FDIC-insured while it sits in their system. For most people, the lower cost makes this the better choice for amounts under $5,000.

Currency conversion and exchange rates

If you are sending money to a non-USD account, your bank will convert the currency. Banks use their own exchange rates, which are usually 1 to 3 percent worse than the mid-market rate (the real rate you see on financial news sites). This markup is how banks make money on international transfers, and it is separate from the transfer fee.

For example, if the mid-market rate is 0.92 EUR per USD, your bank might offer 0.89 EUR per USD. On a $5,000 transfer, that difference costs you about $150. Money transfer services like Wise use the mid-market rate or very close to it, which is why they are cheaper for currency conversion even if their transfer fee is higher.

Ask your bank what exchange rate they will use before you send the transfer. Some banks let you lock in a rate for a few days if you are sending a large amount.

What information you need from the recipient

Before you initiate any transfer, get the following details from the recipient in writing:

  • Full legal name (exactly as it appears on the bank account)
  • Account number
  • Bank name and branch (if applicable)
  • SWIFT code (an 8 or 11-character code that identifies the bank)
  • IBAN (if the country uses it — most of Europe, UK, Middle East, and some others)
  • Routing number or sort code (if applicable in that country)

Different countries use different systems. The UK uses sort codes, Canada uses routing numbers, and Europe uses IBANs. Ask the recipient which information their bank requires, or ask them to provide their bank's international transfer instructions. Many banks have this information on their website or can email it to you.

Entering the wrong account number or SWIFT code can send your money to the wrong bank or account, and recovery can take weeks or be impossible. Confirm the details twice before you send.

Tracking your transfer and what to do if it does not arrive

After you send the transfer, your bank will give you a reference number or tracking code. Save this number — you will need it if the transfer does not arrive or if there is a problem. Most banks let you track the status online or by calling their international services line.

Wire transfers usually arrive within one to three business days. International ACH takes seven to ten. Money transfer services vary by destination but typically deliver within one to five business days. If the money does not arrive within the expected timeframe, contact your bank or service with the reference number and ask them to trace the transfer.

If the transfer was sent to the wrong account, contact your bank immediately. They can attempt to recall the transfer, but success depends on whether the receiving bank has already released the funds. Wire transfers are harder to reverse than ACH transfers. This is why confirming the account details beforehand is critical.

Frequently Asked Questions

How much does it cost to send money internationally?

Wire transfers through banks cost $25 to $50 plus currency conversion markup. International ACH costs $5 to $15 but only works to certain countries. Money transfer services charge a percentage (usually 1 to 3 percent) plus a fixed fee, which is often cheaper for amounts under $5,000. Currency conversion adds another 1 to 3 percent on top of the transfer fee.

Can I send money to any country?

Most countries accept wire transfers, but some have restrictions due to sanctions or banking regulations. International ACH only works to Canada, Mexico, and a few others. Money transfer services cover more countries but not all. Check with your bank or the service to confirm the destination country is supported before you attempt a transfer.

What is the difference between SWIFT and IBAN?

A SWIFT code identifies the bank and branch receiving the money. An IBAN is the account number in a standardized format used mainly in Europe and some other regions. You need the SWIFT code for any wire transfer. You need the IBAN only if the receiving country uses it. Ask the recipient which one their bank requires.

How long does an international transfer take?

Wire transfers take one to three business days. International ACH takes seven to ten business days. Money transfer services typically take one to five business days depending on the destination and how you fund the transfer. Weekends and holidays add time, and transfers initiated late in the day may not process until the next business day.

Can I reverse an international transfer if I made a mistake?

Wire transfers are difficult to reverse once sent. International ACH transfers may be reversible within a short window if the receiving bank has not released the funds. Contact your bank immediately with the reference number if you need to stop or reverse a transfer. Success is not may provide, especially for wire transfers sent to the wrong account.