The best fit depends on your specific transfer needs. For low-cost digital transfers with transparent exchange rates, Wise is widely recommended. If you require a global banking network for secure or recurring high-amount transfers, Citibank and HSBC are the top choices. If your recipient needs to collect cash, remittance specialists like Western Union, MoneyGram, or Xoom are the most effective options.
3WiseBest for budget-conscious users prioritizing low, transparent fees and mid-market exchange rates. While fast and economical, it lacks the physical branch presence of traditional banking institutions.67%
When looking for the best options to send money internationally, traditional brick-and-mortar banks are often secure and reliable, but they tend to be the most expensive due to high flat fees and hidden exchange rate markups . As a result, many people prefer specialized fintech platforms and digital bank alternatives that use the real mid-market exchange rate.
The top options split into traditional global banks (best for high balances and account integration) and dedicated transfer specialists (best for low fees and exchange rates).
Top Traditional & Global Banks
Charles Schwab Bank — Best for Travel and Expats: Highly recommended for individuals moving or traveling abroad because they charge no foreign transaction fees and offer ATM fee rebates worldwide.
Citibank — Best for Global Branch Access: Offers free international wire transfers specifically through Citibank Global Transfers if you are transferring money between eligible global Citi accounts. They also support multi-currency needs and foreign cash delivery.
Premier — Ideal if you maintain high balance requirements. allows seamless visibility and relationship management across multiple countries without typical local hurdles, though standard wire fees may still apply.
Top Non-Bank & Fintech Alternatives (Often Cheaper than Traditional Banks)
If your primary goal is avoiding steep markups and high wire fees, specialized digital providers are widely considered the gold standard:
Wise (formerly TransferWise) — Best Overall for Transparent Exchange Rates: Uses the true mid-market exchange rate with a low, transparent upfront fee rather than marking up the currency exchange rate. It also provides multi-currency accounts and virtual/physical debit cards.
OFX — Best for Large Transfers & Zero Transfer Fees: Great for moving substantial amounts of money globally while avoiding flat transfer fees, backed by 24/7 phone support.
Revolut — Best for Multi-Currency Spending & App Management: Functions like a digital banking app letting you hold, exchange, and transfer dozens of currencies instantly at competitive interbank rates.
What Customers Say
People navigating international relocation frequently emphasize the importance of looking closely at exchange rates over flat fees:
I have travelled overseas before and so I've kind of had an idea of how that would work, but it's very different when you're fully moving. So my research has been exchange rates over time, international transfers, foreign transaction fees, and what would actually make sense financially, fully moving overseas.
If you can share which countries you are sending money between and roughly how much you plan to transfer, I can help you figure out whether a traditional bank or a specialized transfer service makes the most financial sense.
If you’re in the U.S. and mean sending money internationally from a bank account, the “best” choice depends heavily on whether you care most about low cost, convenience, or large transfers.
Good options to compare
Provider
Particularly useful for
What to know
Chase
People who already bank with Chase
Online international FX wires can be $5, and the fee is waived for transfers of $5,000+; Chase still applies an exchange-rate spread.
Bank of America
Broad international coverage
Supports transfers to 200+ countries and 140+ currencies. Foreign-currency wires have no separate outbound wire fee, but the exchange rate includes a markup.
Citibank
International banking / Citi relationships
Particularly useful if you already have eligible Citi accounts or use Citi's international-transfer features.
Wells Fargo
Conventional banking + international wires
Convenient if you already use Wells Fargo, although you should compare its exchange rate with alternatives before sending.
HSBC
People with substantial international banking needs
Its international footprint can be useful, particularly for people who regularly move money across countries.
Wise
Lowest-cost/transparent transfers
Not technically a bank, but often worth comparing against banks. Wise uses the mid-market exchange rate and shows the fee upfront.
The important catch: the wire fee isn't the whole cost
A bank might advertise a $0–$5 international transfer fee, but make money through the exchange rate. For example, Bank of America says foreign-currency wires have no outbound wire fee while explicitly noting that exchange-rate markups apply.
For that reason, I'd compare:
Total cost = transfer fee + exchange-rate markup + intermediary/recipient-bank fees
For smaller personal transfers, a service such as Wise can often be considerably cheaper because it uses the mid-market exchange rate and makes its fees explicit.
My practical shortlist
Already a Chase customer: compare Chase's quoted recipient amount against Wise before sending.
Already a Bank of America customer: BofA is convenient and has very broad international coverage.
Regularly sending money overseas: compare Wise with your bank every time; the exchange-rate difference can matter more than the advertised wire fee.
Sending $10,000+ or larger amounts: I'd specifically compare the actual recipient amount from 2–3 providers rather than choosing based on the advertised fee.
Moving money between your own accounts in different countries: the best option can be quite different, especially if you have accounts with the same multinational bank.
If you tell me (1) roughly how much you're sending, (2) USD → which currency/country, and (3) how often, I can compare the likely costs of Chase, Bank of America, Citi, Wells Fargo, Wise, and other relevant options for your specific transfer.
If you're in the U.S., the right bank depends mainly on how much you're sending, the destination currency, and how often you transfer. The exchange rate can matter more than the advertised wire fee.
Bank
International transfer
Notable point
Bank of America
$0 fee for international wires sent in foreign currency; $45 in USD
Sends to 200+ countries and 140+ currencies; FX markup applies
Chase
$5 online in foreign currency, waived at $5,000+; $40 online in USD
Convenient if you already bank with Chase; shows the FX rate before you authorize
Wells Fargo
$0 for online foreign-currency wires; up to $30 for USD digital wires
Broad international coverage and no consumer fee for foreign-currency digital wires
Citibank
Varies by account; some premium accounts have $0 fees
Particularly useful if you have an eligible Citi relationship or need international banking features
The important catch
A $0 wire fee doesn't necessarily mean a cheap transfer. Banks generally make money through the exchange-rate spread, and intermediary banks can sometimes charge additional fees.
For example, Bank of America explicitly says that its $0 foreign-currency wire fee comes with an exchange-rate markup.
If your priority is getting the most foreign currency for your dollars, I'd also compare your bank's quoted exchange rate against a specialist service such as Wise or OFX before sending. A bank can be convenient, but the lowest headline wire fee isn't necessarily the lowest total cost.
If you tell me (1) how much you're sending, (2) which country/currency, and (3) whether it's a one-time or recurring transfer, I can compare the likely total cost of Chase vs. Bank of America vs. Wells Fargo vs. Wise for your specific situation.
When looking for the best options to send money internationally, traditional brick-and-mortar banks are often the most familiar route, but specialized financial technology (fintech) platforms frequently offer much lower fees and better exchange rates.
The best choice depends on whether you prefer a traditional global bank with physical infrastructure or a dedicated transfer service that bypasses expensive SWIFT network markups.
Top Traditional Banks for International Transfers
Traditional banks are ideal if you already bank with them, prefer in-branch support, or need to send large, highly secure wire transfers via the SWIFT network.
Citibank — Best for Existing Global Customers.Citi offers zero-fee international transfers between qualifying Citi accounts via Citibank Global Transfers . Standard international wire fees apply for external accounts, but their global network makes multi-currency management smoother than most regional U.S. banks.
HSBC — Best for International Expatriates. As a massive global institution, HSBC allows customers to link international accounts and instantly move money between them fee-free. Their Global Money Account lets you hold and convert multiple currencies with minimal friction.
Charles Schwab — Best for Travelers & ATM Access. While not built strictly for large remittance wire streams, Schwab’s checking account is globally praised because it charges no foreign transaction fees and fully refunds all worldwide ATM fees, making it a top companion for accessing cash abroad.
Top Specialized Alternatives (Better Rates & Lower Fees)
According to global financial reporting, traditional banks remain among the most expensive service providers for international remittances due to hidden exchange rate markups and intermediary wire fees. Specialized platforms are almost always faster and cheaper:
Wise — Best Overall for Transparency & Rates. Wise (formerly TransferWise) uses the real mid-market exchange rate with no hidden markup, charging only a small, upfront transparent percentage fee. It allows you to hold 40+ currencies and get local bank details in major regions. You can explore their multi-currency options directly on the Wise Platform.
OFX — Best for Large-Value Transfers. OFX charges $0 in flat transfer fees for most major currency routes and assigns dedicated currency specialists to help you navigate large exchanges (ideal for buying property or moving overseas). Learn more at OFX.
Revolut — Best for Digital Banking & App Features. Revolut functions like a digital-first global account, offering great interbank currency exchange rates and instant peer-to-peer global transfers. Check out the details via Revolut.
— specializes in sending money directly to mobile wallets or cash pickup locations across developing nations with fast delivery speeds and promotional rates on initial transfers. Visit .
To help narrow down the best specific provider for your needs, let me know:
How much money are you planning to send?
Which countries are you sending from and to?
Do you prefer a traditional bank or an online transfer app?
When it comes to moving money across borders, traditional major global banks are often the most expensive option due to high flat fees and hidden markups on exchange rates. As a result, specialized multi-currency digital accounts and dedicated transfer providers are widely considered the best overall alternatives.
The top options depend on your specific needs:
Top Choices for International Transfers
Wise — Best overall for low fees and real exchange rates. Wise uses the mid-market exchange rate with transparent, low percentage fees, making it ideal for everyday personal use, expats, and freelancers. You can also get local account details in multiple countries.
OFX — Best for large-value transfers. OFX waives flat transfer fees for larger amounts and offers 24/7 phone support with dedicated account managers, making it a favorite for corporate or large lump-sum transfers.
Revolut — Best digital banking alternative for frequent travelers. Functioning like a modern digital bank, Revolut lets you hold and exchange multiple currencies instantly within an app, offering great interbank exchange rates during market hours.
Citibank / HSBC — Best traditional global banks. If you prefer a brick-and-mortar legacy institution with physical branches worldwide, Citi and HSBC have robust international networks. However, expect higher wire fees and less favorable exchange rates compared to fintech competitors unless you qualify for their premium tier global banking accounts (like HSBC Premier).
Remitly / Xoom — Best for fast cash pickups or remittances. If you need to send money that the recipient can pick up as physical cash within minutes in a developing country, specialized remittance services beat traditional wire transfers.
User Experiences
The go-to choice for customers travelling or sending money abroad, thanks to its excellent currency exchange rates and instant global transfers.
Wise remains the gold standard for international money transfers and multi-currency accounts.
To help narrow down the best provider for you, tell me:
How much money are you planning to send?
Which countries are you transferring between?
Do you need the recipient to get cash or a bank deposit?
If you're in the U.S., the best bank for international transfers depends on whether you care most about low cost, convenience, or having a full-service bank relationship.
My top picks
Bank/service
Best for
International transfer value
Wise
💰 Lowest overall cost
Usually excellent exchange rates; transparent fees
Chase
🏦 Best traditional bank
Strong international infrastructure and convenient online transfers
Bank of America
🌎 Frequent international transfers
No outgoing fee when sending foreign currency online, though FX markup applies
Wells Fargo
👨👩👧 Sending to family abroad
Good coverage and ExpressSend for certain countries
Citibank
🌍 International banking customers
Particularly attractive if you already bank internationally
HSBC
✈️ People with significant overseas banking needs
Strong international footprint
🥇 Best overall: Wise
Strictly speaking, Wise isn't a bank, but for sending money internationally it's often a better option than a conventional bank. It uses the mid-market exchange rate and displays its transfer fee separately, rather than building an exchange-rate markup into the price.
For example, recent comparisons have found Wise can deliver substantially more foreign currency than a traditional bank on the same transfer amount.
Chase is a particularly good choice if you already use Chase and want everything in one banking ecosystem. Online international transfers in foreign currency can cost as little as $5, with the fee waived for transfers of $5,000 or more under applicable conditions.
The catch is that the exchange rate matters much more than the advertised wire fee. Banks generally make money through an FX markup, so a "free" or $5 transfer isn't necessarily the cheapest option.
🥉 Best for Bank of America customers
bankofamerica.com allows online international transfers to 200+ countries in 140+ currencies. There's no outbound wire fee when sending foreign currency, although an exchange-rate markup applies. Sending USD internationally costs $45.
Good option: Wells Fargo
wellsfargo.com supports international wires to 200+ countries. Its online digital-wire fee can be $0–$30 depending on the currency/account, but Wells Fargo explicitly says its FX rate includes a markup.
The important part: don't compare just the wire fee
If you're sending $10,000, a bank with a $0 transfer fee can still be more expensive than Wise if its exchange rate is 2% worse. That's a $200 difference before considering other fees.
So I'd generally choose:
Sending $100–$5,000 occasionally: Wise
Sending $5,000–$50,000: Compare Wise against Chase/BofA/Citi for the actual recipient amount
Regular overseas banking: HSBC or Citibank
You already bank with Chase: Chase is convenient and can be quite competitive for larger foreign-currency transfers
Sending money to family in Latin America/Asia: Wells Fargo's specialized remittance options may be worth considering
If you tell me (1) how much you're sending, (2) USD → which currency/country, and (3) how often, I can compare the actual likely cost of Chase vs Bank of America vs Wells Fargo vs Wise for your situation.
When looking to send money internationally, traditional brick-and-mortar banks are often the most expensive and slowest option due to SWIFT network intermediary fees and hidden exchange rate markups. Because of this, specialized money transfer fintechs and online-first financial platforms are widely considered the best overall choice.
Best Specialized Services (Alternative to Traditional Banks)
Wise (formerly TransferWise)
Best for: Overall value, transparency, and multi-currency holding.
Why it stands out: Uses the real mid-market exchange rate with low, transparent upfront fees. Instead of bouncing your money across multiple international wire banks, Wise uses a network of local bank accounts to bypass traditional SWIFT charges.
OFX
Best for: Large-value transfers.
Why it stands out: They charge zero flat transfer fees for most large transfers and offer sliding-scale exchange rate margins that become more cost-effective the more money you send. They also provide 24/7 phone access to human currency specialists.
Revolut
Best for: Frequent travelers and digital nomads.
Why it stands out: Combines a digital app-based account with instant peer-to-peer global transfers and great real-time currency exchange features.
Remitly / XE / WorldRemit
Best for: Remittances (sending support to family abroad) and cash/mobile wallet pickups.
Why it stands out: Fast delivery speeds, localized payout options (including cash pickup or mobile money), and frequent promotional exchange rates for new users.
Best Traditional Banks (If You Must Use a Bank)
If you prefer using a traditional institution, global footprint and wire fee policies matter immensely:
Bank of America
Why it stands out: Offers $0 outgoing international wire fees if you send the money in the local foreign currency instead of U.S. dollars (though watch out for exchange rate markups).
Charles Schwab
Why it stands out: Exceptional for international travelers because it charges no foreign transaction fees and fully reimburses all global ATM fees.
User Perspectives
Wise
Charles Schwab
To help narrow down the best option, are you looking to send a large lump sum (like for property or tuition), do you need a multi-currency account , or are you trying to avoid specific wire fees?
wise.com is usually the strongest option if your goal is getting the most foreign currency for your dollars.
Wise uses the mid-market exchange rate rather than adding an exchange-rate markup, and shows the transfer fee separately. Its current U.S. pricing starts from 0.23%, depending on the currency and transfer.
For example, Wise currently illustrates a $30,000 USD→EUR transfer costing about $88.83 when funded by bank transfer, although the exact cost varies by route and can change.
If you want to use an actual bank
Charles Schwab is worth considering if you already bank/invest there. Schwab's current pricing guide lists online outgoing wires at $15, but its foreign-currency conversion can carry a markup of up to 3%, plus possible intermediary-bank charges.
That illustrates an important point: don't compare international transfers solely by the advertised wire fee. A bank might advertise a $0–$30 transfer while making substantially more money through the exchange-rate spread.
What I'd choose
Sending $100–$10,000 occasionally: Wise
Sending money to family overseas regularly: Wise
Already have Schwab and sending money in USD: Schwab can be convenient, but compare the final recipient amount
Sending $25,000–$100,000+: Compare Wise against a bank/FX specialist; volume discounts can make a meaningful difference. Wise currently offers discounts starting at $25,000 in eligible transfers.
Sending USD to a foreign bank account without converting currency: The calculation changes; SWIFT/wire fees and intermediary-bank charges become more important.
If you tell me (1) how much you're sending, (2) from the U.S. to which country, and (3) whether you're converting USD into the local currency, I can compare the best options and estimate what the recipient would actually receive.
If you’re in the U.S., the best bank for international transfers depends heavily on the currency, amount, and how often you send money. The headline wire fee isn't the whole cost—the exchange-rate markup can matter more.
My top picks
Bank of America — Best all-around traditional bank
Sends international wires to 200+ countries in 140+ currencies.
Online international wires in foreign currency have no outbound wire fee, although BofA builds a markup into its exchange rate.
USD international wires are $45.
Best if you already bank with BofA and want convenience.
Chase — Best for large transfers
Supports transfers to 90+ countries.
Online foreign-currency wires are $5, or $0 for $5,000+ under certain Chase accounts; online USD international wires are $40.
Particularly attractive if you're sending $5,000+ in foreign currency.
Wells Fargo — Best for low-cost foreign-currency wires
Current consumer pricing lists $0 for international wires sent in foreign currency and $25 for international wires sent in USD, although account eligibility and other-bank fees can matter.
Supports wires to 200+ countries.
Caveat: Wells Fargo explicitly says its foreign-exchange rate includes a markup.
The important catch
If your priority is getting the most foreign currency for your dollars, I wouldn't automatically choose a bank. Banks can charge a relatively small—or even $0—wire fee while making money through the exchange-rate spread. Chase, BofA, and Wells Fargo all disclose that currency conversion can include a markup.
So my ranking would be:
If you care most about…
Pick
Overall traditional-bank convenience
Bank of America
Large foreign-currency transfer ($5k+)
Chase
Low advertised foreign-currency wire fee
Wells Fargo
Getting the best exchange rate
Compare the bank against a dedicated transfer service
If you tell me (1) where you're sending the money, (2) roughly how much, and (3) whether it's a one-time or recurring transfer, I can compare the actual costs and tell you which option is likely cheapest.
When it comes to international money transfers, traditional brick-and-mortar banks are often the most familiar option, but they are rarely the cheapest. Traditional banks typically charge high flat transfer fees (ranging from $25 to $50+) and add a hidden markup (often 1% to 5%) to the mid-market exchange rate.
The "best" choice depends on whether you prefer the security of a traditional global bank, a specialized fintech multi-currency account, or a dedicated remittance provider.
Best Digital Multi-Currency Platforms (Cheapest & Best Value)
If your primary goal is avoiding inflated exchange rates and high transfer fees, specialized cross-border financial platforms consistently beat traditional banks.
Wise : Best Overall for Transparent Rates
Wise (formerly TransferWise) is widely considered the gold standard for personal and freelance international transfers. It uses the true mid-market exchange rate (the one you see on Google) with zero markup, charging only a small, transparent upfront percentage fee.
Revolut : Best for Instant Transfers & Multi-Currency Spending
Great for borderless management, allowing you to hold multiple currencies, exchange money instantly at great rates, and transfer smoothly to other Revolut users or global bank accounts.
Best Traditional Banks for International Wires
If you must use a conventional bank due to large sums or account preferences, some traditional institutions offer better terms or waived fees under certain conditions.
JPMorgan Chase : Best Large Traditional Bank
Chase charges $0 for online international wire transfers sent in a foreign currency if the amount is $5,000 or more (and a modest $5 fee for amounts under $5,000). However, always check whether an exchange rate markup still applies.
Citibank : Best for Global Account Holders
Citi features a strong international footprint and competitive digital transfer options, especially if you hold high-tier accounts (like Citigold), which frequently enjoy fee waivers on foreign exchange and wire transactions.
Wells Fargo : Best for Foreign Currency Wires
Consumer accounts are not charged a transfer fee when sending a wire in a foreign currency using Wells Fargo Digital Wires, though standard exchange rate margins still apply.
Best for Traveling and ATM Access Abroad
If you aren't wiring money to a recipient, but rather need access to your own cash globally without getting gouged on fees:
Charles Schwab High Yield Investor Checking : Best for ATM Fee Reimbursments
While not optimized for heavy currency conversion investing, Schwab's checking account charges no foreign transaction fees and refunds all ATM fees worldwide at the end of every month.
Summary Comparison
Provider Type
Typical Transfer Fee
Exchange Rate Markup
Speed
Specialized (e.g., Wise)
Low flat/percentage fee
None (Mid-market rate)
Fast (often hours/1 day)
Traditional Banks (e.g., Chase, Citi)
$0 to $50+ depending on size
Present (Variable margin)
1–5 business days
If you can share how much you are planning to send, the destination country/currency , and whether you prefer a digital app or a physical bank branch , I can help you pick the most cost-effective provider.
Why it stands out: Strong correspondent banking network across Europe and South America, making direct commercial or consumer transfers smoother for specific regional corridors.
