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Wire Transfers: What Banks Charge

Banks typically charge for outgoing and incoming wire transfers. Fees range from $0 to more than $30.
March 6, 2018
Banking, Banks & Credit Unions, Money Transfer
Wire Transfers: A Guide to What Banks Charge
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Wire transfers can be an expensive way to send 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.

typical wire transfer fees

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

Domestic incomingDomestic outgoingInternational incomingInternational outgoing
$13$25$13$45

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

Cheaper ways to send money

Bank wire transfers aren’t the only way to send money. For transfers within the U.S., consider nonbank providers that charge fewer fees.  If you need to send money abroad, look for companies that offer better exchange rates, such as those listed in our roundup of the best ways to send money internationally.

Wire transfer fees by financial institution

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.

Financial institution (click name for full review)Incoming domestic wireOutgoing domestic wireIncoming inter-
national wire
Outgoing inter-
national wire
Bank of America$15
$30$16
$35 sent in foreign currency;
$45 sent in U.S. dollars
Capital One 360$0*$40$0*Not available
Chase$15
$25
$15
$40
Citibank$15$25$15$35
Fidelity$0*$0*$0*3% of amount in foreign currency;
$0 sent in U.S. dollars
HSBC Bank**$15$35$15$35
PNC Bank$15$30$15$45
USAA$0*$20$0*$45
U.S. Bank$20$30$25$50
Wells Fargo***$15$30$16$35 in foreign currency; $45 in U.S. dollars

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

You can send wire transfers within the U.S. and to other countries; international transfers usually cost more.

Wire transfer fees at top banks

Expand to see fees for incoming and outgoing wire transfers.

Financial institution (click name for review)Incoming domestic wireOutgoing domestic wire
Bank of America$15, waived for Interest Checking and Preferred Rewards program
$30
Capital One 360$0*$30
Chase$15, waived for Chase Premier Platinum Checking and Chase Private Client accounts
$25, waived for Chase Private Client accounts
Citibank$15, waived for Citigold and other high-end accounts
$25

$12.50-$18.75 for certain high-end accounts

Waived for Citi Private Bank, Citigold Private Client Account and Citi Global Executive Preferred Account
Fidelity$0*$10
HSBC Bank**$15

$12 for HSBC Advance

Waived for HSBC Premier account
$35

$30 for HSBC Advance and Premier accounts
PNC Bank$15, waived for Performance Select Checking account$30, waived for Performance Select Checking account
USAA$0*$20
U.S. Bank$20$30
Wells Fargo***$15$30
*At some banks that do not charge a fee, an intermediary bank may be used to facilitate the transfer, and that institution may charge a fee.
**HSBC Bank also lets Advance and Premier account holders use a free global transfer service between HSBC accounts in other countries.
***Wells Fargo also offers a remittance transfer service called ExpressSend, which mainly works with Latin American and Asian countries. The transfer costs less but has lower limits than regular wire transfers do. Only certain foreign banks participate.
To dive deep, skip ahead to a comparison of over 40 financial institutions by wire transfer fees
Financial institution (click name for review)Incoming inter-
national wire
Outgoing inter-
national wire
Bank of America$16, waived for Platinum and Platinum Honors tiers of Preferred Rewards program
$35 sent in foreign currency;
$45 sent in U.S. dollars
Capital One 360$0*Not available
Chase$15, waived for Chase Premier Platinum Checking and Chase Private Client accounts
$40, waived for Chase Private Client accounts
Citibank$15, waived for Citigold and other high-end accounts
$35

$20-$30 for certain high-end accounts

Waived for Citi Private Bank, Citigold Private Client Account and Citi Global Executive Preferred Account
Fidelity$0*$10 + 3% in foreign currency; $10 in U.S. dollars
HSBC Bank**$15

$12 for HSBC Advance

Waived for HSBC Premier account
$35

$30 for HSBC Advance and Premier accounts
PNC Bank$15$45
USAA$0*$45
U.S. Bank$25$50
Wells Fargo***$16Varies in foreign currency; $45 in U.S. dollars
*At some banks that do not charge a fee, an intermediary bank may be used to facilitate the transfer, and that institution may charge a fee.
**HSBC Bank also lets Advance and Premier account holders use a free global transfer service between HSBC accounts in other countries.
***Wells Fargo also offers a remittance transfer service called ExpressSend, which mainly works with Latin American and Asian countries. The transfer costs less but has lower limits than regular wire transfers do. Only certain foreign banks participate.
To dive deep, skip ahead to a comparison of over 40 financial institutions by wire transfer fees

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

Domestic vs. international fees

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.

Additional costs for international wires

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 international money transfer providers.)

Other ways to cut wire transfer costs

  • Fees can differ based on how you initiate the wire transfer: Doing it yourself online tends to be the cheapest way. Requesting the transfer at a branch or on the phone can add $10 or more to your fee. Chase, for instance, charges $35 for domestic wire transfers set up for you by a banker and $25 for the same transfer if you do it yourself online.
  • Transfers sent in foreign currency can be cheaper: Some banks offer lower fees if you let them convert U.S. dollars into a foreign currency before transferring the funds rather than simply sending U.S. dollars abroad.
  • Recurring wires can be slightly cheaper: Some financial institutions, like Wells Fargo, let you send a recurring wire transfer for a few dollars less per transfer. To save money on recurring transfers, though, using your bank’s bill pay or other transfer service is a better and cheaper option unless the transfer amount exceeds the maximum allowed by your bank. Wire transfers can handle larger amounts.

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

Financial institution (click name for full review)Incoming domestic wireOutgoing domestic wire
Alliant Credit Union$0*$25
Ally Bank$0*$20
Associated Bank$15
$25
Bank of America$15, waived for Interest Checking and Preferred Rewards program
$30
Bank of Internet USA$0*$35
Bank5 Connect$0*Not available
BB&T$15$30
BBVA Compass$15$25
BMO Harris Bank$0*$25
Boeing Employees Credit Union$0*$25
Capital One 360$0*$30
Charles Schwab Bank$0*$25
Chase$15, waived for Chase Premier Platinum Checking and Chase Private Client accounts
$25, waived for Chase Private Client accounts
Citibank$15, waived for Citigold and other high-end accounts
$25

$12.50-$18.75, for certain high-end accounts

Waived for Citi Private Bank, Citigold Private Client Account and Citi Global Executive Preferred Account
Citizens Bank$18-$28, based on how you receive wire notification

Waived for Citizen Bank Platinum Checking and other high-end checking accounts
$30
Comerica Bank$14, waived for Comerica Platinum Circle Checking
$29, waived for Comerica Platinum Circle Checking
Connexus Credit Union$20$20
Consumers Credit Union$15$25
Discover Bank$0*$30
EverBank$0*$25
Fidelity$0*$10
Fifth Third Bank$15.50$30
First Internet Bank of Indiana$0*$20
HSBC Bank**$15

$12 for HSBC Advance

Waived for HSBC Premier account
$35

$30 for HSBC Advance and Premier accounts
Huntington Bank$15$25
KeyBank$20, waived for Key Privilege Checking and Key Privilege Select Checking accounts
$25

$30 for Key Express Checking, Key Privilege Checking and Key Privilege Select Checking accounts
M&T Bank$16$32
Nationwide Bank$0*$25
Navy Federal Credit Union$0*$14
Pentagon Federal Credit Union$0*$20
PNC Bank$15, waived for Performance Select Checking account$30, waived for Performance Select Checking account
Regions Bank$15$25
Santander Bank$13$25
Security Service Federal Credit Union$0*$15
Simple Bank$0 *Not available
State Employees' Credit Union of North Carolina$0*$10
SunTrust Bank$15$25
TD Bank$15$25
Union Bank$15$20
USAA$0*$20
U.S. Bank$20$30
Wells Fargo***$15$30
*At some banks that do not charge a fee, an intermediary bank may be used to facilitate the transfer, and that institution may charge a fee.
**HSBC Bank also lets Advance and Premier account holders use a free global transfer service between HSBC accounts in other countries.
***Wells Fargo also offers a remittance transfer service called ExpressSend, which mainly works with Latin American and Asian countries. The transfer costs less but has lower limits than regular wire transfers do. Only certain foreign banks participate.
Financial institution (click name for full review)Incoming inter-
national wire
Outgoing inter-
national wire
Alliant Credit Union$0*$50
Ally Bank$0*Not available
Associated Bank$15$45, $60 or $85, varies by processing method
Bank of America$16, waived for Platinum and Platinum Honors tiers of Preferred Rewards program
$35 sent in foreign currency;
$45 sent in U.S. dollars
Bank of Internet USA$0*$45
Bank5 Connect$0*Not available
BB&T$18$65
BBVA Compass$15$45
BMO Harris Bank$0*$45
Boeing Employees Credit Union$0*$35
Capital One 360$0*Not available
Charles Schwab BankNot availableNot available
Chase$15, waived for Chase Premier Platinum Checking and Chase Private Client accounts
$40, waived for Chase Private Client accounts
Citibank$15, waived for Citigold and other high-end accounts
$35

$20-$30 for certain high-end accounts

Waived for Citi Private Bank, Citigold Private Client Account and Citi Global Executive Preferred Account
Citizens Bank$12, waived for Citizen Bank Platinum Checking and other high-end checking accounts
$10 in foreign currency; $35 in U.S. dollars
Comerica Bank$17, waived for Comerica Platinum Circle Checking
$58, waived for Comerica Platinum Circle Checking
Connexus Credit Union$50$50
Consumers Credit Union$15$60
Discover Bank$0* If received in a foreign currency, an intermediary bank may charge a $20 fee$30
EverBank$0*$35 *intermediary may charge fee
Fidelity$0*$10 + 3% in foreign currency; $10 in U.S. dollars
Fifth Third Bank$15.50$50
First Internet Bank of Indiana$0*$50
HSBC Bank**$15

$12 for HSBC Advance

Waived for HSBC Premier account
$35

$30 for HSBC Advance and Premier accounts
Huntington Bank$15$75
KeyBank$20, waived for Key Privilege Checking and Key Privilege Select Checking accounts
$45
M&T Bank$16$75
Nationwide Bank$5, waived for current or retired Nationwide employees and their family members$35
Navy Federal Credit Union$0*$25
Pentagon Federal Credit Union$0*$30
PNC Bank$15$45
Regions Bank$18$45
Santander Bank$13$0 in foreign currency; $40 in U.S. dollars
Security Service Federal Credit Union$0*$61
Simple Bank$0*Not available
State Employees' Credit Union of North Carolina$0*$25
SunTrust Bank$30 *intermediary may charge fee$50
TD Bank$15$40
Union Bank$15Not available online for most customers.
For wire via fax or phone instructions:
$35 in foreign currency;
$45 in U.S. dollars
USAA$0*$45
U.S. Bank$25$50
Wells Fargo***$16Varies in foreign currency; $45 in U.S. dollars
*At some banks that do not charge a fee, an intermediary bank may be used to facilitate the transfer, and that institution may charge a fee.
**HSBC Bank also lets Advance and Premier account holders use a free global transfer service between HSBC accounts in other countries.
***Wells Fargo also offers a remittance transfer service called ExpressSend, which mainly works with Latin American and Asian countries. The transfer costs less but has lower limits than regular wire transfers do. Only certain foreign banks participate.

Spencer Tierney is a staff writer at NerdWallet, a personal finance website. Email: spencer@nerdwallet.com. Twitter: @SpencerNerd.


METHODOLOGY

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.