Whether you're supporting family abroad, paying international contractors, sending money to friends studying overseas, or managing property in another country, knowing how to send money internationally efficiently can save you hundreds of dollars in fees and days of waiting time.
In 2026, you have more options than ever for international money transfers. Gone are the days when expensive bank wire transfers were your only choice. Modern money transfer services offer faster speeds, better exchange rates, and dramatically lower fees. In this comprehensive guide, we'll walk you through everything you need to know about sending money internationally from the United States.
Understanding International Money Transfer Costs
Before diving into specific services, it's important to understand how international money transfers actually cost you money. There are typically three components:
Transfer Fees: The upfront charge for sending money. This can range from $0 to $50+ depending on the service, amount, and destination.
Exchange Rate Markup: The difference between the real mid-market exchange rate and the rate the service gives you. This hidden cost often exceeds the visible transfer fee. Banks typically mark up exchange rates by 3% to 6%, while specialized services offer much better rates.
Receiving Fees: Some services or recipient banks charge fees when money arrives. Always verify if the recipient will pay any fees.
According to The World Bank's March 2025 report, banks remain the most expensive option for international transfers, costing an average of nearly 14.55% of the transfer amount when combining fees and exchange rate markups. Specialized money transfer services typically cost 1% to 3% total, making them dramatically cheaper.
Best Ways to Send Money Internationally in 2026
1. Wise (Formerly TransferWise) – Best for Transparent Pricing
Best For: Large transfers, transparency, and fair exchange rates
Wise has revolutionized international money transfers by using the real mid-market exchange rate—the same rate you see on Google—and charging a small, transparent fee instead of hiding costs in the exchange rate.
Key Features:
- Fees as low as 0.1% for large transfers
- Real mid-market exchange rate with no markup
- Send up to $1 million per transfer via ACH
- 70% of transfers arrive in under 20 seconds
- Multi-currency account available
- Transparent pricing—you see exactly what you pay and what recipient gets
How It Works: You send money in USD, Wise converts it at the real exchange rate, and the recipient gets their local currency. The fee is clearly displayed upfront, typically ranging from $2 to $50 depending on the amount and destination.
Transfer Speed: Most transfers arrive within 1 business day, with 70% arriving in under 20 seconds for instant transfers to supported countries.
Best Destinations: Over 80 countries including UK, Canada, Europe, India, Philippines, Mexico, and Australia.
2. OFX – Best for Avoiding Transfer Fees
Best For: Large transfers over $1,000
OFX charges no transfer fees on amounts over $1,000, making it excellent for larger international payments like property purchases, tuition payments, or significant family support.
Key Features:
- $0 transfer fees for amounts over $1,000
- 24/7 customer support
- Competitive exchange rates
- Fee-free recurring transfers
- Same-day transfers available for certain destinations
How It Works: Sign up for an account, lock in your exchange rate, and transfer funds from your US bank account. OFX handles the currency conversion and delivery to the recipient's account.
Transfer Speed: Typically 1-2 business days, though this varies by destination.
Best Destinations: Over 190 countries, particularly good for Australia, New Zealand, UK, and Europe.
3. Xoom (PayPal Service) – Best for Speed
Best For: Urgent transfers that need to arrive within minutes
Xoom, owned by PayPal, specializes in fast international transfers, with many arriving within minutes to bank accounts, mobile wallets, or for cash pickup.
Key Features:
- Transfers arrive in minutes for many destinations
- Multiple delivery options (bank account, mobile wallet, cash pickup)
- Integration with PayPal account
- Instant tracking
- Promotions for first-time users
How It Works: Link your bank account or debit card, enter recipient details, and send. Recipients can receive money in their bank account, mobile wallet, or pick up cash at thousands of locations.
Transfer Speed: Minutes to hours for most destinations.
Best Destinations: Mexico, Philippines, India, Dominican Republic, and other major remittance corridors.
4. Remitly – Best for Emerging Markets
Best For: Sending to developing countries, supporting family abroad
Remitly focuses on major remittance corridors with excellent rates and delivery options for recipients in emerging markets.
Key Features:
- Express and Economy transfer options
- Delivery guarantee or fee refund
- Multiple receive methods (bank, mobile wallet, cash pickup, home delivery)
- Low fees for first-time users
- No hidden charges—total cost shown upfront
How It Works: Choose express (minutes to hours) or economy (3-5 days) delivery, select how recipient wants to receive money, and pay via bank account or card.
Transfer Speed: Minutes for express, 3-5 days for economy.
Best Destinations: Philippines, India, Mexico, Colombia, Pakistan, Nigeria, Kenya, and 170+ countries.
5. Western Union – Best for Global Network
Best For: Cash pickup in remote locations
Western Union's massive network of 550,000+ agent locations worldwide makes it unbeatable for sending money to places where online banking isn't accessible.
Key Features:
- Largest global network for cash pickup
- Multiple payment methods (online, app, or in-person)
- Various delivery options (bank account, mobile wallet, cash pickup)
- Track transfers in real-time
- Available 24/7 online and via app
How It Works: Send money online, via app, or at a Western Union location. Recipients can pick up cash at any Western Union agent location, typically within minutes.
Transfer Speed: Minutes for cash pickup, 1-3 days for bank deposits.
Best Destinations: Virtually every country, especially valuable for rural areas.
Note: Western Union's fees can be higher than digital-first services, and exchange rates include markup. However, the convenience and accessibility often justify the cost.
6. MoneyGram – Best for Large Global Network (tie)
Best For: Alternative to Western Union with competitive pricing
MoneyGram competes directly with Western Union, offering a similarly extensive network with often competitive rates.
Key Features:
- 430,000+ locations in 200+ countries
- Fast transfers (often within minutes)
- Multiple receive options
- Loyalty program for frequent senders
- Mobile app for convenience
How It Works: Similar to Western Union—send online, via app, or in-person. Recipients pick up cash or receive in bank account/mobile wallet.
Transfer Speed: Minutes to hours for cash pickup, 1-2 days for bank transfers.
Best Destinations: Worldwide, particularly strong in Latin America, Africa, and Asia.
7. Revolut – Best for Sending to Other Revolut Users
Best For: Frequent travelers, people with international friends
If both sender and recipient have Revolut accounts, transfers in 25+ currencies are instant and completely free—no fees, no exchange rate markup.
Key Features:
- Free instant transfers between Revolut users
- Competitive exchange rates for non-Revolut transfers
- Multi-currency account
- International debit card
- In-app expense splitting
How It Works: Send money through the app to other Revolut users for free, or to bank accounts in 140+ countries for a small fee.
Transfer Speed: Instant for Revolut-to-Revolut, 3-5 days for bank transfers.
Best For: Recipients who are willing to open a Revolut account for free transfers.
8. Bank Wire Transfers – Best for Large Business Transactions
Best For: Very large amounts, official business transactions
Traditional bank wire transfers remain relevant for significant business transactions, real estate purchases, or situations requiring formal documentation.
Key Features:
- Secure and traceable
- Accepted worldwide
- Official bank documentation
- Large amount capabilities
How It Works: Visit your bank or use online banking to initiate a wire transfer with recipient's bank details including SWIFT code and account information.
Transfer Speed: 1-5 business days typically.
Costs: $15-$50 for outgoing wire, plus exchange rate markup of 3-6%, plus potential receiving fees.
Best For: Official transactions requiring bank documentation, very large amounts ($100,000+).
How to Choose the Right Service
Selecting the best international money transfer service depends on several factors:
Transfer Amount: For small amounts under $100, look for services with low fixed fees. For large amounts, percentage-based fees or exchange rate quality matters more.
Destination Country: Some services specialize in certain corridors. Remitly excels for Philippines and India, while OFX is great for Australia and Europe.
Speed Requirements: Need money to arrive today? Choose Xoom or Western Union. Can wait 3-5 days? Economy options from Remitly or Wise save money.
Recipient's Access: Can they receive to a bank account? Do they need cash pickup? Mobile wallet available? Match the service to their capabilities.
Frequency: Send monthly? Look for services with loyalty programs or promotional rates for repeat customers.
Cost Sensitivity: Always compare the total cost (fees + exchange rate markup) across services for your specific transfer.
Step-by-Step: How to Send Money Internationally
Regardless of which service you choose, the process follows a similar pattern:
Step 1: Choose Your Service: Compare options based on your needs and select the best service.
Step 2: Create an Account: Register with your personal information. First-time users need to verify identity with government ID.
Step 3: Enter Transfer Details:
- Amount to send
- Destination country
- Recipient information (name, account details or pickup location)
- Delivery method (bank account, cash pickup, mobile wallet)
Step 4: Review Costs: Check the exchange rate, fees, and total amount recipient will receive. Most services show this clearly before you commit.
Step 5: Choose Payment Method: Pay via bank transfer (cheapest), debit card (faster), or credit card (fastest but may include cash advance fees).
Step 6: Confirm and Send: Review all details, confirm the transaction, and submit.
Step 7: Track Your Transfer: Most services provide a reference number to track your transfer until it's delivered.
Step 8: Notify Recipient: Let them know money is on the way and provide any necessary pickup codes or reference numbers.
Important Documents You'll Need
For international money transfers, be prepared with:
For Sender:
- Government-issued photo ID (driver's license, passport)
- Social Security number or tax ID
- Bank account or debit card for payment
- Recipient's full legal name and address
- Recipient's bank account details (account number, SWIFT/BIC code, IBAN if applicable)
For Large Transfers (typically over $10,000):
- Additional ID verification
- Source of funds documentation
- Purpose of transfer information
All legitimate money transfer services must comply with anti-money laundering regulations and verify customer identities.
Tips for Safe International Money Transfers
Verify Recipient Information: Double-check account numbers and recipient names. Errors can delay transfers or send money to the wrong person.
Use Secure Payment Methods: Bank transfers or debit cards are safest. Credit cards may treat transfers as cash advances with high fees.
Keep Records: Save confirmation numbers, receipts, and transaction details until you confirm the recipient received the money.
Beware of Scams: Never send money to someone you don't know or trust. Common scams include romance schemes, fake emergency requests, and fraudulent business opportunities.
Watch Exchange Rates: Exchange rates fluctuate. Large transfers might benefit from locking in a favorable rate when available.
Understand Tax Implications: While gifts to family are generally not taxable, large or frequent transfers may require reporting to the IRS. Consult a tax professional for transfers exceeding $16,000 annually to one person.
Check Transfer Limits: Each service has maximum limits per transfer or per day. Plan accordingly for large amounts.
Common Mistakes to Avoid
Choosing Based Only on Fees: A $5 fee with a 3% exchange rate markup can cost more than a $15 fee with the real exchange rate. Always compare total costs.
Using Your Bank Without Shopping Around: Banks are typically the most expensive option. Compare specialized services first.
Not Considering Transfer Speed: If it's not urgent, economy options can save 20-50% compared to instant transfers.
Ignoring Receiving Fees: Some recipient banks charge fees to receive international transfers. Factor this into your total cost.
Sending Without Checking Exchange Rates: Rates change throughout the day. Sending during favorable rates can save money on large transfers.
The Bottom Line
Sending money internationally from the US in 2026 is easier, faster, and cheaper than ever before. With options ranging from instant digital transfers to traditional cash pickup, you can find a solution that balances cost, speed, and convenience for your specific needs.
For most people, services like Wise, Remitly, or Xoom offer the best combination of low costs, competitive exchange rates, and reliable delivery. Western Union and MoneyGram remain valuable for reaching remote locations where digital banking isn't available. Traditional bank wires, while expensive, still serve a purpose for large business transactions requiring formal documentation.
Take time to compare options for your specific transfer—the destination, amount, and urgency all affect which service offers the best value. Use comparison tools, read reviews, and always verify the total cost including both fees and exchange rate markups.
With the right service and approach, you can ensure your money reaches its destination quickly, safely, and at the lowest possible cost—keeping more money in the hands of the people who matter most to you.
Frequently Asked Questions (FAQs)
Q: What's the cheapest way to send money internationally? A: For most transfers, Wise offers the best combination of low fees and real exchange rates. For amounts over $1,000, OFX's zero-fee transfers are hard to beat. Always compare total costs (fees plus exchange rate) for your specific transfer.
Q: How long does an international money transfer take? A: It varies by service and destination. Instant services like Xoom can deliver in minutes. Standard services typically take 1-3 business days. Bank wires usually take 3-5 business days. Economy options may take up to a week but cost less.
Q: Is it safe to send money internationally online? A: Yes, established services like Wise, Remitly, Western Union, and MoneyGram are regulated, secure, and protect your information with encryption. Only use well-known, licensed money transfer services and never send money to people you don't know.
Q: Do I need the recipient's bank account to send money internationally? A: No. While bank account transfers are common, many services offer cash pickup at agent locations, mobile wallet deposits, or even home delivery depending on the destination country.
Q: How much does it cost to send money internationally? A: Costs range from under 1% for large transfers using Wise to 5-15% when using banks. Typical specialized services charge 2-4% total when combining fees and exchange rate markup. Always compare multiple services for your specific transfer.
Q: What information do I need to send money internationally? A: You'll need the recipient's full legal name, address, and either their bank account number with SWIFT/BIC code, or a cash pickup location. You'll also need your own ID and payment method (bank account or card).
Q: Can I send money internationally with a credit card? A: Most services accept credit cards, but many treat it as a cash advance and charge additional fees. Debit cards or bank transfers are typically cheaper. Some services don't accept credit cards for larger amounts.
Q: Are international money transfers taxable? A: Sending money internationally isn't taxable, but gifts over $18,000 per year to one person may require filing IRS Form 709. Receiving money generally isn't taxable either, though recipients may have different rules in their country. Consult a tax professional for large or frequent transfers.
Keep Learning
Continue building your financial knowledge with these guides:
- What is a Routing Number and Where Do I Find It? - Essential information for international wire transfers
- How to Open a Bank Account Online (Step-by-Step) - Get started with accounts that offer international transfer capabilities
- How to Avoid Bank Fees: 12 Proven Strategies - Save money on transfer fees and other banking costs
- Online Banks vs. Traditional Banks: Which is Better? - Some online banks offer better international transfer options
Do you regularly send money internationally? Share your favorite service and any tips in the comments below! What works best for your situation?
Pro Tip: Sign up for accounts with multiple services and compare rates each time you transfer. Exchange rates and promotional offers change frequently, and the cheapest option for Mexico might not be the best for India. Taking 5 minutes to compare can save $20-50 per transfer.
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