International wire transfer fees [Full guide 2025]

In today's global world, more people and businesses are sending money across borders than ever before. According to one report, the cross-border payments market size is projected to grow to $320 trillion by 2032¹.

Whether you pay for a service abroad, send money to family, or run a business that deals with international suppliers, wire transfers remain one of the most common methods of moving money internationally.

Being informed means you can plan more effectively, avoid hidden costs, and select the best service for your needs.

This article will explain all you need to know about international wire transfer fees, including 'what a wire transfer is' and 'how much does it cost to wire money'. 

So, read on.

What is a wire transfer?

A wire transfer is a secure and reliable method of sending money electronically from one person or business to another. Rather than dealing with physical checks or cash, the sender's bank communicates with the recipient's bank to transfer funds. 

The process is increasingly used for both personal and business payments, especially when large sums of money are involved.

There are two types of wire transfers:

International wire transfers often use a global messaging system called SWIFT² (Society for Worldwide Interbank Financial Telecommunication). This system enables banks to exchange instructions with each other safely and accurately. 

However, the SWIFT system can often be slow and costly. This is due to cross-border transactions, which take a string of banks' cycles before they get to the destination, much like taking connecting flights instead of a direct one. 

Not to mention, every intervening bank may charge a handling fee, which could add unexpected costs to your transaction. 

How much is the wire transfer average fees in 2025?

Ever wondered, does a wire transfer cost money? The short answer is yes, and often more than expected. 

In 2025, the cost of an international wire transfer varies depending on several factors, including the sending and receiving banks, whether the transfer is made online or in person, and additional considerations (which we'll discuss shortly). 

However, here's what you can typically expect in the U.S.:

Here's a table³ that shows what major U.S. banks charge in fees to help you understand better:

What factors affect wire transfer fees? 

Wire transfers are a common way to send money; however, they're not always cheap. The total cost of sending or receiving a wire transfer can vary depending on several key factors. 
Let's break down the main factors that influence how much you'll pay in wire transfer fees:

Bank vs. online services

One of the deciding factors that affects wire fees is where you make the transfer. Is it a conventional bank? Or, a digital money transfer service?

Let's explore each:

• Believe it or not, banks typically charge high fees for sending and receiving international wires. For instance, a major U.S. bank might charge $35–$50³ to send money overseas, and the receiving bank would charge an additional $10–$20 (or more). 
• Online service providers such as BOSS Money, Wise, or Revolut are relatively more affordable. They often have lower fixed charges or deduct a small percentage of the value being transferred. Also, they provide better exchange rates than traditional banks. 

Domestic vs. international transfers

The destination of the transfer is another major cost factor. Domestic wire transfer, which happens in the same country and currency (i.e., USD to USD in the USA), typically costs less. Fees may range from $0 to $35 per transaction⁴, depending on the bank or service.

However, foreign wire transfers are usually more expensive (as we mentioned). They involve more processing steps, more institutions (e.g., correspondent banks), and often require currency exchange. If you send money internationally, it might cost more than a domestic transfer. 

Amount of money being sent

The amount of the transfer can also determine the fee you will pay. 

For example, some services and banks charge a flat fee⁵, which implies that the fee doesn't change whether you transfer $10,000 or $100. This is common with banks.

However, online service providers often charge a percentage-based fee. For instance, a 1% commission means you'll have to pay $10 to send $1,000. It's beneficial for smaller money transfers, but might cost more for large amounts. 

Also, large transfers might be subject to extra review or regulation, which could slow the process or add compliance-related charges.

Currency conversion fees

• Every time you transfer money abroad, you'll have to perform currency exchanges – say from U.S. dollars (USD) to euros (EUR). This may incur currency conversion fees, which are often easy to overlook.
• Banks tend to use a higher marked-up exchange rate, less favorable than the mid-market rate (the rate you'll find on Google). Plus, they may add a conversion fee, sometimes unwittingly.

In contrast, online services show the real exchange rate and charge a clear fee for currency conversion, which makes it easier to understand what you actually pay.

SWIFT fees and intermediary banks

The majority of international wire transfers move over the SWIFT network. It's a global, secure message network banks use to send instructions and transfer funds.

But this is the catch: your transfer may not go (directly) from your bank to the recipient bank. It could be routed through one or more intermediary (or correspondent) banks.

Each bank along the chain can collect a fee, sometimes without telling you or the recipient first. These are intermediary bank fees or SWIFT fees, and they could range from $10 to $100+.

Let's say you send $1,000 from the USA to Australia. After levying intermediary fees, your recipient would end up receiving only $950, even though you paid your own bank's sending fee on top.

Type of transfer: Same day vs. standard

Another factor that impacts wire fees is the type of transfer: same day or standard. The faster you want your money delivered, the more you're likely to be charged.

Standard international wire transfers take 1–5 business days⁶ and are typically the least expensive option.

Express or same-day transfers may take less time (typically hours); however, it could cost you more. 

If your payment isn't time-sensitive, consider using a regular delivery option, as it can save you from additional fees.

Fees for receiving wire transfers

Many people forget that receiving money can also come with a cost, especially in international transfers.

• In the U.S., banks usually charge between $10 and $30 to receive international wires.
• In other countries, receiving fees vary widely depending on the bank, the type of account, and the currency.

If you're sending money to someone else, you might want to call their bank and ask if there is an incoming fee. If there is, you may want to increase the amount you send to ensure they receive the correct amount after deductions.

Hidden costs to watch out for

When performing an international wire transfer, many people are worried about the advertised fee – the amount the bank or service tells you they are going to charge to make a transfer. 

But in reality, many other charges can quietly reduce the payee's receipt amount. These unexpected, covert fees can make your transfer more expensive than you planned.

That said, here are some hidden costs to consider:

Unfavorable exchange rates

One of the major hidden fees is the exchange rate. Many banks and businesses don't quote the true (mid-market) rate. Instead, they slap a markup of 3% to 5%, meaning they give you less foreign currency in exchange for your money. 

Therefore, if the actual rate is 1 USD = 0.90 EUR, your bank can exchange it for 0.87 EUR, overcharging you without realizing it.

Intermediary bank deductions

In international transfers, your money may travel through multiple banks, particularly when using the SWIFT network. Each bank that helps process the transfer can charge a handling fee, often without notifying you. 

These charges are often taken out of your transfer, reducing the amount the recipient receives.

Fees deducted from the principal

Some banks charge their fees (directly) from the money you send. So, even when you pay $40 to send a transfer, your recipient might receive less than what you intended. 

For example, $950 instead of $1,000,  because part of the money was taken as a service charge.

Double fees

Sometimes, the receiver and sender are both charged. You pay to send it, and someone else pays to receive it. That can be infuriating – if you weren't prepared for it.

To prevent surprises, always ask your bank or transfer service for charges they may incur, and ask the receiver to do the same. After all, pre-planning can save a great deal of money.

How long do international wire transfers take?

Cross-border wire transfers usually get credited to the recipient's account within 1 to 5 working days. While the process is usually simple, the actual delivery time may depend on a number of factors, such as:

• Bank holidays in the sender's or recipient's location can cause delays until banks resume.
• Time difference may lead to a delay in case the transfer is made at the end of the working day.
• Bank-cut-off times make payments sent after a specific time to be processed on the next business day.
• Large value transactions or new account transfers usually require verification checks, taking additional processing time.
• Transfers through the SWIFT network may involve multiple correspondent (intermediary) banks. Multiple banks add processing time, which can extend the delivery date.

To avoid unnecessary delays, double-check all details before sending and initiate your transfer early in the day.

Cheap wire transfer

International wire transfers can quickly become costly. Luckily, there are various ways to save your money in 2025. With some research and the right tools, you can keep more of your cash and avoid extra fees.

Compare banks in advance

Don't assume your regular bank offers the best deal. Take the time to compare different banks and look closely at their:

• Sending and receiving fees
• Exchange rates
• Transfer speeds 

You may find that another bank or service gives you a better overall value, especially for international transfers.

Use online services

Electronic money transfer services are more affordable and faster than traditional banks. For example, BOSS Money is a low-cost and convenient way to send money overseas. 

Online websites usually show the exact fee and exchange rate upfront, so there are no surprises later.

Send in the recipient's local currency

If possible, send the money in the recipient's own currency. This can help you avoid currency conversion fees deducted from them and ensure they receive the correct amount. 

Ask about all possible fees

Before making the transfer, ask your provider:

• Will there be intermediary bank fees?
• Are there fees to receive the money?
• What is the current exchange rate used?

Knowing these details in advance helps you avoid hidden costs.

Why use BOSS Money?

BOSS Money has become a popular choice for international transfers in 2025, and for good reasons:

• Low fixed fees: Transparent pricing with no surprises. 
• Fast delivery: Some transfers arrive instantly.
• Easy to use: A simple app and website make sending money quick and stress-free.
• Send to 50+ countries: This includes destinations across Latin America, Africa, Asia, and Europe.

Compared to traditional banks, BOSS Money offers better value, more speed, and greater convenience, helping you save money while sending it.

Sources: all third party information obtained from applicable website as of July 10, 2025

1. https://www.fxcintel.com/research/press-releases/new-data-cross-border-payments-market-now-worth-over-194tn-and-is-forecast-to-reach-320tn-by-2032

2. https://www.swift.com/

3. https://www.businessinsider.com/personal-finance/banking/wire-transfer-fees

4. https://www.investopedia.com/terms/w/wiretransfer.asp

5. https://www.pnc.com/insights/personal-finance/spend/what-is-a-wire-transfer.html

6. https://stripe.com/resources/more/how-long-do-international-payments-take-what-to-know-about-international-wire-transfers

7. https://www.ir.com/guides/ach-vs-wire-transfer

This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.