Wire Transfer Fees: What Banks Charge

Banks typically charge for outgoing and incoming wire transfers. Fees range from $0 to more than $40.
Spencer TierneyMar 25, 2021
Wire Transfers: A Guide to What Banks Charge

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Sending wire transfers can be an expensive way to move money from one bank account to another, with typical outgoing fees of $25 per transfer within the U.S. But if you’re sending a lot of money or need a transfer to happen quickly, it may be a good transfer option.

Here are the median wire transfer fees for the institutions we surveyed:

Many banks, including Chase and Wells Fargo, charge fees both for sending wire transfers (outgoing) and receiving them (incoming).

Bank wire transfers aren't the only way to send money. For transfers within the U.S., consider .  If you need to send money abroad, look for companies that offer better exchange rates, such as those listed in our roundup of the .

This list only includes fees charged directly by banks and credit unions on their standard accounts. If intermediary banks help process a wire transfer, an additional fee may be charged. You can send wire transfers within the U.S. and to other countries; international transfers usually cost more.

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» Looking for savings accounts with high rates? Explore our list of

Domestic wire transfers tend to be cheaper and faster, since they can be completed through one payment system, such as that provided by the Federal Reserve.

International bank wire transfers involve more parties, including a U.S. bank, a foreign bank and wire processing systems in both countries.

Banks charge other banks what’s called a midmarket — or interbank — rate for trading large amounts of foreign currency. But when banks convert money for consumers, they charge a higher markup. That markup is a percentage of the amount being sent. You can see how much more your bank is charging you above the midmarket rate by comparing rates on currency platforms such as Google, Bloomberg or Reuters.

If your bank doesn’t convert your money for an international money transfer, then a foreign bank will do it and usually charge its own markup. As noted above, the best way to avoid high markups is to consider using a nonbank option. (Compare .)

» Have time to spare? You might be able to save by transferring via ACH. Here's at some major banks.

We looked at more than 40 financial institutions: the largest U.S. banks based on assets, debit card volume and internet search traffic; the nation’s largest credit unions with broad-based membership requirements; and other notable and/or emerging players in the industry. For calculating medians, financial institutions that don't provide domestic or international outgoing wire transfers were excluded from the relevant fee category. If there were two or more fees for a certain type of wire transfer, we chose the price that would apply to standard checking accounts. In the case of international wire transfers with different fees based on currency conversion or processing, we averaged each bank's fees first.

Details on how data for the chart was gathered: These are standard fees for one-time wire transfers based on each financial institution’s disclosures and policies. If there are multiple ways to perform a wire transfer, the price of the cheapest way, which is usually through online banking, is shown. If a bank asked for a ZIP code, we used the ZIP code for the bank's headquarters and compared with ZIP codes in different states to check for variations.

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