How to Transfer Money Internationally in 2026
Knowing how to transfer money internationally can save you hundreds of dollars a year. Most people use their bank out of habit and end up paying $35-$60 per transfer in combined fees and exchange rate markups. There is a better way.
The fastest and cheapest method is to transfer money internationally online using a specialist money transfer service. These platforms charge a fraction of bank rates, use the real mid-market exchange rate, and deliver funds in minutes to a few business days.
This guide explains exactly how to transfer money internationally, compares your options, and shows you step by step how to send your first transfer using Wise, Xe, or Remitly.
What Does Transferring Money Internationally Involve?
When you transfer money internationally, you are converting one currency to another and moving funds from a bank account (or card) in one country to a bank account in another. Three factors determine the real cost: the transfer fee, the exchange rate, and the delivery time.
Banks and specialist services both handle international transfers, but they do so very differently. Banks use the SWIFT network, charging $15-$50 in wire fees plus a 2-4% exchange rate markup. A specialist service lets you transfer money internationally online using local payment rails, which cuts costs dramatically and often speeds up delivery.
- Transfer fee: the upfront cost charged by the provider, either flat or percentage-based
- Exchange rate: the rate at which your currency is converted; the markup on the mid-market rate is a hidden cost
- Delivery time: how long from sending to the recipient seeing the funds in their account
- Recipient details required: IBAN (Europe), sort code and account number (UK), BSB (Australia), or SWIFT/BIC code
Ways to Transfer Money Internationally
There are several ways to transfer money internationally. The right method depends on the amount, the destination, how quickly the money is needed, and whether the recipient has a bank account.
Method | Typical Cost | Speed | Best For |
|---|---|---|---|
Specialist service (Wise, Xe) | 0.4%-1.5% | Minutes to 1 day | Best overall value |
Bank wire transfer | $15-$50 + 2-4% FX markup | 2-5 business days | Large regulated transfers |
PayPal | 3-4% conversion fee | Instant to 1 day | Small amounts between PayPal users |
Cash pickup (Remitly, Western Union) | $0-$5 fee + FX markup | Minutes to hours | Recipients with no bank account |
Crypto transfer | Variable network fees | Minutes | Tech-savvy senders, volatile value |
For most senders, the best way to transfer money internationally online is via Wise or Xe. Both are regulated, fast, and consistently cheaper than banks. The only time banks win is when a transfer requires specific SWIFT documentation for regulatory or compliance purposes.
How to Transfer Money Internationally Online: Step by Step
Here is exactly how to transfer money internationally online using a specialist service like Wise. The process takes under 10 minutes for your first transfer.
- Choose a provider: compare Wise, Xe, and Remitly using the widget above. Enter the amount and destination to see live rates and fees side by side.
- Create an account: sign up with your email address. You will need to verify your identity (passport, national ID, or driving licence) once.
- Enter the transfer amount: select the send currency and receive currency. The provider shows the exact rate, fee, and how much the recipient will receive before you confirm.
- Add recipient details: enter the recipient's name and bank account information. For Europe use the IBAN; for the UK use sort code and account number; for other countries use the SWIFT code.
- Fund the transfer: pay by bank transfer (usually free), debit card (small fee), or credit card (higher fee). Bank transfer is the cheapest and most common method.
- Track delivery: the provider sends email and push notifications at each stage. Wise, Xe, and Remitly all have real-time tracking.
First-time identity verification usually takes 1-5 minutes if your document is clear. Subsequent transfers skip this step. Learning how to transfer money internationally with a specialist service is straightforward once you have done it once.
Best Services to Transfer Money Internationally in 2026
These three providers consistently deliver the best combination of cost, speed, and reliability when you need to transfer money internationally online.
Wise: Best Exchange Rate
Wise is the most popular way to transfer money internationally online for people who want the best exchange rate. It uses the actual mid-market rate (the rate you see on Google) with no markup. Fees are transparent and low, typically 0.4%-1.5% of the amount sent.
On a $1,000 transfer to Europe, Wise typically charges $5-$8 in fees with no exchange rate markup. A bank charges $15-$25 in wire fees plus around $25 in exchange rate markup on the same amount. The saving when you transfer money internationally with Wise rather than a bank is $35-$42 on just one transfer.
Wise gives you the real mid-market exchange rate and transparent fees. It is one of the most cost-effective ways to transfer money internationally online on 40+ currency pairs.
- Mid-market exchange rate, no markup
- Fees from 0.4%, shown upfront before confirmation
- Transfers in minutes on most corridors
- FCA, FinCEN, and 50+ other regulators
- Wise app with real-time tracking
Xe: Best for Wide Coverage
Xe is the right choice when you need to transfer money internationally to a country or currency that Wise does not support well. Xe covers 130+ currencies, giving you the widest reach of any specialist provider. Rates include a small markup (0.5%-1.5%), but still beat banks by a wide margin.
There are no transfer fees on most corridors when sending above a minimum amount (typically $500). Xe delivers most transfers in minutes to 1-3 business days.
When you need to transfer money internationally to a less-common destination, Xe's 130+ currency coverage gives you the best chance of a competitive rate.
- 130+ currencies supported
- No fees on most corridors above minimum
- Rates far below bank FX markups
- 24/7 customer support
Remitly: Best for Speed to Developing Countries
Remitly specialises in helping people transfer money internationally to family in developing countries across Asia, Latin America, and Africa. It offers Express delivery (often under one hour) on major corridors including US to Philippines, India, Mexico, and the UK to Nigeria.
Fees range from $0 to $3.99 depending on corridor and speed. Cash pickup is available in thousands of agent locations, which matters when the recipient does not have a bank account.
For personal remittances, Remitly is the fastest way to transfer money internationally to key corridors in Asia, Latin America, and Africa.
- Express: under one hour on major corridors
- Economy: lowest fees, 3-5 business days
- Cash pickup in 100+ countries
- First-transfer promotional rates available
International Money Transfer Fees and Exchange Rates
The two costs you must understand before you transfer money internationally are the transfer fee and the exchange rate markup. Most people only look at the transfer fee and miss the larger hidden cost in the rate.
Banks charge $15-$50 as a wire fee, then apply a 2-4% markup on the exchange rate. On a $2,000 transfer, the markup alone costs $40-$80, invisible on the transaction receipt. Specialist services charge a transparent percentage fee of 0.4%-2%, and either apply the mid-market rate (Wise) or a small markup of 0.5%-1.5% (Xe, Remitly).
To accurately compare two providers when you transfer money internationally online, always check the amount the recipient will receive, not just the fees charged to the sender. The conversion comparison table at the top of this page does this automatically.
How to Transfer Money Internationally Without Fees (or for Free)
Many senders want to know how to transfer money internationally without fees and how to transfer money internationally for free. While completely free international transfers are rare, there are legitimate ways to reduce your costs to near-zero if you choose the right provider and funding method.
It is possible to how to transfer money internationally without fees on some corridors, but the term requires a closer look. Some providers advertise zero transfer fees but embed their profit in the exchange rate markup. True fee-free transfers are rare.
Here is how to get as close as possible to transferring money internationally for free:
- Use Xe: no transfer fees on most corridors above $500. The only cost is a small FX margin of 0.5%-1.5%, which is still far below bank rates.
- Use Remitly Economy: some corridors carry zero transfer fees on the Economy speed option. The exchange rate markup applies, but the transfer fee is genuinely $0.
- Send via bank transfer (not card): card payments attract an additional processing fee of 1-2%. Funding via bank transfer avoids this and is often free.
- Check promotional rates: Wise and Remitly both offer first-transfer promotions with reduced or zero fees for new users.
If you want to transfer money internationally for free and the recipient also uses Wise, you can send between Wise accounts in the same currency instantly with zero fees. This works for the same currency only; cross-currency transfers still carry a fee.
Common Mistakes When Transferring Money Internationally
Even experienced senders make these errors when they transfer money internationally online. Avoiding them protects you from delays, lost money, and unnecessary costs.
- Using a bank without comparing first: a bank's combined fees and FX markup typically cost 4-8x more than a specialist service on the same transfer
- Entering wrong recipient details: a single wrong digit in an IBAN or account number delays or returns the transfer; always double-check before confirming
- Ignoring the exchange rate: focusing only on the transfer fee misses the larger cost hidden in a poor exchange rate
- Using PayPal for large international transfers: PayPal charges 3-4% currency conversion on top of a transaction fee; on a $1,000 transfer that is $30-$40 in conversion costs alone
- Not comparing at point of transfer: exchange rates move daily; a provider that was cheapest last week may not be cheapest today
Many users ask whether it is truly possible to transfer money internationally for free. The honest answer is that the conversion cost always exists, but zero-fee options do minimise what you pay upfront. When you transfer money internationally without fees using Xe, the only real cost is the FX margin, which at 0.5%-1.5% is still 2-3x cheaper than a bank.
If you want to transfer money internationally for free and are happy to wait 3-5 business days, Remitly Economy on eligible corridors charges $0 in transfer fees. Meanwhile, how to transfer money internationally for free is one of the most common questions new senders ask, and the answer in 2026 is: use Xe or Remitly Economy, and always fund via bank transfer rather than card.
In summary: the most practical way to transfer money internationally without fees in 2026 is to use Xe above its minimum threshold. And if you need to know how to transfer money internationally for free, the answer is: use Xe's zero-fee corridors, fund via bank transfer, and check first-time promo codes on Wise and Remitly.
Frequently Asked Questions
How do I transfer money internationally?
To transfer money internationally, choose a provider (Wise, Xe, or Remitly), create a free account, verify your identity once, enter the recipient's bank details and the amount, fund the transfer by bank transfer or card, and the money is converted and sent. The whole process takes under 10 minutes the first time and under 2 minutes for repeat transfers.
How do I transfer money internationally online?
To transfer money internationally online, visit the website or download the app of a specialist provider like Wise, Xe, or Remitly. Enter the send and receive amounts to see the live rate and fee, add the recipient's bank details, and pay by bank transfer or debit card. Most online international transfers complete within minutes to 24 hours, far faster than a bank wire.
What is the cheapest way to transfer money internationally?
The cheapest way to transfer money internationally for most currency pairs is Wise, which uses the mid-market exchange rate with no markup. On a $1,000 transfer, Wise typically costs $5-$8 compared to $35-$55 via a bank. For currencies Wise does not support at competitive rates, Xe offers zero transfer fees on most corridors with a small FX margin of 0.5%-1.5%.
How do I transfer money internationally without fees?
To transfer money internationally without fees, use Xe on corridors above $500 (zero transfer fee, small FX margin applies) or Remitly's Economy option on corridors that waive the transfer fee. Wise charges a small percentage fee but uses the mid-market rate, making it cheaper overall than most zero-fee providers that embed costs in the exchange rate. Fund all transfers via bank transfer rather than card to avoid card processing fees.
How to transfer money internationally for free?
Genuinely free international transfers are difficult because currency conversion always has a cost somewhere. The closest option is Xe on corridors above $500, where the transfer fee is $0 and only a 0.5%-1.5% FX margin applies. Remitly occasionally offers truly transfer money internationally for free promotions for first-time users. Sending between Wise accounts in the same currency is free, but cross-currency transfers carry a fee.
How long does an international transfer take?
Delivery times when you transfer money internationally depend on the provider and corridor. Wise delivers most transfers in minutes to 24 hours. Xe delivers in minutes to 3 business days. Remitly Express delivers in under one hour on major corridors; Economy takes 3-5 business days. Bank SWIFT transfers take 2-5 business days and sometimes longer for less common destinations.
What details do I need to transfer money internationally?
To transfer money internationally online, you need the recipient's full name, bank account details (IBAN for Europe, sort code + account number for the UK, BSB for Australia, or SWIFT/BIC code for other countries), and the recipient's bank name and address. For large transfers, you may also need to state the purpose of the transfer. Always verify details directly with the recipient before sending.
Is it safe to transfer money internationally online?
Yes. Using a regulated provider to transfer money internationally online is safe. Wise, Xe, and Remitly are all licensed by major financial authorities including the FCA, FinCEN, and FINTRAC. They use bank-grade encryption and two-factor authentication. Client funds are held in segregated accounts separate from operating capital. The main risks are phishing scams and incorrect recipient details, both of which you can protect against with standard digital hygiene.
How much does it cost to transfer money internationally?
The cost to transfer money internationally depends on the provider and currency pair. With Wise, a $1,000 transfer typically costs $5-$15 in total. With a bank, the same transfer costs $35-$65 when you include the wire fee ($15-$25) and the exchange rate markup (2-4%). PayPal charges 3-4% in currency conversion fees plus a transaction fee, making it one of the most expensive options for international transfers.
Can I transfer money internationally with PayPal?
Yes, PayPal allows international transfers, but it is one of the more expensive ways to do it. PayPal charges a 3-4% currency conversion fee on top of the transaction fee. On a $1,000 transfer, that is $30-$40 in conversion costs alone. Compare this to Wise, which charges $5-$8 on the same amount. PayPal is convenient for small amounts between existing PayPal users, but specialist services are significantly cheaper for anything above $200.
How to transfer money internationally bank of america?
Bank of America charges $35 for online international wire transfers and $45 for in-branch wires, plus a 2-3% exchange rate markup. On a $2,000 transfer, the total cost is approximately $75-$95. To transfer money internationally via Bank of America, log in to online banking, go to 'Send Money' or 'Wire Transfer', enter the recipient's name, bank, SWIFT code, and account number. However, Wise or Xe will complete the same transfer for $10-$30, saving you $50-$85 on a single transaction.
What currencies can I transfer internationally?
Wise supports 40+ currencies for international transfers. Xe supports 130+ currencies, making it the widest-coverage specialist option. Remitly focuses on high-demand corridors in Asia, Latin America, and Africa. Banks support most major currencies via SWIFT, but their fees and rates make them expensive. For less common currencies not supported by Wise, Xe is usually the best alternative to a bank when you need to transfer money internationally online.
How do I track an international transfer?
When you transfer money internationally using Wise, Xe, or Remitly, all three provide real-time tracking. You receive email and app notifications at each stage: when the provider receives your payment, when the currency is converted, and when the funds are sent to the recipient's bank. Wise also provides an estimated arrival time at confirmation. For bank SWIFT transfers, tracking is limited: most banks only provide a reference number you can share with the recipient bank to enquire.
The simplest thing you can do before your next international transfer is to compare Wise, Xe, and Remitly on the exact amount and destination. The comparison widget above shows live rates and fees instantly. Knowing how to transfer money internationally online is the first step; choosing the right provider is how you keep more of your money.
Mohammad Humaid
Verified AuthorMo is the founder of MoneyTransferStore. As an expat who has experienced the challenges of sending money across borders himself, he set out to help others like him avoid hidden fees and unfair exchange rates on international transfers. With a background spanning fintech, payments, and Web3, Mo brings years of practical experience to building a platform focused on transparency and trust.
