Best way to transfer large amounts of money internationally

What are the best ways to transfer large amounts of money overseas? · International money transfer specialist · Cash-to-cash transfers · Bank-to- ... Home InternationalMoneyTransfers Findermakesmoneyfromfeaturedpartners,buteditorialopinionsareourown.AdvertiserDisclosure Bestwaytotransferlargeamountsofmoneyinternationally Yourbankmaybemoreconvenienttotransferlargeamountsofmoney,butamoneytransferspecialistwillprobablyofferabetterdeal. KevinJoeyChen & KateAnderson Updated Dec1,2021.Whatchanged?FactcheckedShare NavigateInternationalMoneyTransfers Inthisguide Whatarethebestwaystotransferlargeamountsofmoneyoverseas?1.Internationalmoneytransferspecialist2.Cash-to-cashtransfers3.Bank-to-banktransfers4.Internationalbankdraft5.Prepaiddebitcards6.CryptocurrencyFrequentlyaskedquestionsStartcomparing Compare Reviews Sendmoneyto Exchangerates Banks Promocodesanddiscounts Guides {"menuItems":[{"label":"Whatarethebestwaystotransferlargeamountsofmoneyoverseas?","anchorName":"#what-are-the-best-ways-to-transfer-large-amounts-of-money-overseas"},{"label":"1.Internationalmoneytransferspecialist","anchorName":"#international"},{"label":"2.Cash-to-cashtransfers","anchorName":"#cash"},{"label":"3.Bank-to-banktransfers","anchorName":"#bank"},{"label":"4.Internationalbankdraft","anchorName":"#draft"},{"label":"5.Prepaiddebitcards","anchorName":"#prepaid"},{"label":"6.Cryptocurrency","anchorName":"#crypto"},{"label":"Frequentlyaskedquestions","anchorName":"#frequently-asked-questions"}]}It’sfairlycommonintheUSforpeopletosendlargeamountsofmoneyabroad.Thebestwaytodothatwilldependonyourspecificsituation.Whenmakingyourdecision,itisimportanttotakeintoconsiderationthingslikespeed,IRStaxregulations,feesandmore.Whatarethebestwaystotransferlargeamountsofmoneyoverseas?InternationalmoneytransferspecialistCash-to-cashtransfersBank-to-banktransfersInternationalbankdraftPrepaiddebitcardCryptocurrency SendmoneyinternationallywithDunbridgeFinancial DunbridgeFinancialoffersdiversetransferoptionstomorethan120countries. Makeinternationalpaymentsinmorethan100currencies Payupto1,000payeesusingonemasspayment Workwithanaccountmanagertodevelopthebestpaymentstrategiesforyourbusiness Gotosite 1.InternationalmoneytransferspecialistYouwillfindthatmoneytransferspecialistsoftenofferthemostcompetitiveexchangeratesforyourtransferandchargelowerfeesthanwhatyou’llfindatyourbank.Thesetypesofcompaniesexisttomaketheprocessofsendingmoneyoverseasfasterandmorestraightforward.ProsTypicallycheaperthanbanktransfers.Diversepaymentoptions,includingpaymentbycreditcard,debitcard,bankaccountandmore.Manytransferspecialistsofferstep-by-stepguidancefortheentireprocess.Canbesententirelyonline.ConsManyoptionsexist,sofindingthebestonemayseemtricky.Somemoneytransferspecialistsdon’thavetransparentfeesandexchangerates.Youhavetotrustacompanywithyourmoney,sovettingthemisimportant.We’vevettedourfavoritemoneytransferspecialistsforyoutosavetimeandmoney.However,ifyouwouldrathercompareprovidersyourself,youcanuseourcomparisontabletolookattransferspeeds,feesandexchangerates.Whenyouhavemadeyourchoice,simplyclickGotosite.Comparemoneytransferspecialists Ourtableletsyoucomparetheservicesyoucanusetosendmoneyabroad.Compareservicesontransferspeedsandfees,thenclickGotositewhenyou'rereadytosend. Dataupdated regularly Weupdateourdataregularly,butinformationcanchangebetweenupdates.Confirmdetailswiththeprovideryou'reinterestedinbeforemakingadecision.Learnhowwemaintainaccuracyonoursite.Close {"niche":"USFMT"} Sortby: Name Product FilterValues FastestTransferSpeed Fees(PaybyBankTransfer) LearnMore OFX24hours$0GotositeViewdetailsOFXhasnomaximumlimittransfers,withcompetitiveexchangeratesfor45+currencies. loadingFetchingyourdata... DunbridgeFinancial 24hours$0GotositeViewdetailsDunbridgeFinancialofferscompetitiveexchangeratesandzerofeesontransferstomorethan120countries. loadingFetchingyourdata...CurrencyTransfer24hours$0SPECIALOFFER✓Minimumtransferof$1,000forFinderreaders(normally£5,000)GotositeViewdetailsExclusive:Minimumtransferof$1,000forFinderreaders(normally$5,000).CurrencyTransferletsyoushoparoundforthebestexchangerateonitsonlinemarketplace. loadingFetchingyourdata...XEWithinminutes$3GotositeViewdetailsXEhasfasttransferswithlowfeesandarangeofforeigncurrencytools. loadingFetchingyourdata...Wise(TransferWise)WithinanhourFrom$2.26GotositeViewdetailsWiseusesthemid-marketrateandtransparentfeestohelpyousendmoneyin45+currencies. loadingFetchingyourdata...OFXInternationalMoneyTransfers(Business)24hours$0GotositeViewdetails Businesscustomers:Sendsafe,no-limittransferswithnofeesandcompetitiveexchangerates. loadingFetchingyourdata...CurrencyTransferforBusiness24hours$0GotositeViewdetails Increasebusinessefficiencywithzerotransactionfeesandsame-daytransfers. loadingFetchingyourdata...loadingCompareupto4providersClearselectionCompare2.Cash-to-cashtransfersSendingmoneyforcashpickupisaconvenientwaytocompleteyourinternationalmoneytransfer,particularlyifyouoryourrecipientisunderorunbanked.Thereareseveralcompaniesthatoffercash-to-cashtransfersincludingRiaMoneyTransfer,MoneyGramandWesternUnion.Findingtherightcompanyforyourcash-to-cashtransferisimportant,somakesuretocompareyouroptions.ProsRecipientdoesn’tneedabankaccount.Senderdoesn’tneedabankaccount.Cashtransfersoftentransferfasterthanbank-to-banktransfers.ConsMostcash-to-cashspecialistshaveamaximumsendinglimit.Largeamountsofcashwillhavetobepickedupbytherecipient,whichcouldbedangerous.Higherfeesaretypicallyappliedtocash-to-cashtransfers,comparedtousinganinternationalmoneyspecialistthattransferstoabankaccount.Findingtherightcompanytosendyourcash-to-cashtransferisimportant,socompareyouroptionstofigureoutwhichcompanysendstoyourpreferreddestinationandoffersthelowestfeesandstrongestexchangerates.3.Bank-to-banktransfersWhilemostbanksareabletoinitiateanoverseastransfer,theytendtobethemostexpensiveoption.Whendealingwithsmallertransfers,theeaseofusingyourlocalbankcanbeworththefeesandunfavorableexchangerate.Butforlargertransfers,you’llseeanoticeablecuttaken.Itisalsoworthkeepinginmindthatyourbankmayhavewiretransferlimitsinplace,soyou’llneedtoaskaheadoftimeifyouplanonmakingalargeinternationalwiretransferover$10,000.Youhavetwochoiceswhensendingabank-to-banktransfer:Wiretransfer.Thisiswhereyoucansendmoneydirectlyfromyourbankaccounttoanotherbankaccount,usuallybyfillingoutaformwiththecontactandaccountdetailsoftherecipient.Thistendstobethemoreexpensiveoption,andyoushoulddouble-checkhowmuchyourbankchargesforoutgoinginternationaltransfersbeforesendingmoney.ACH(automatedclearinghouse)transfers.ThistransferismadeviatheACHnetwork.Ittendstobecheaperpertransactionthanawiretransfer.ProsYoualreadytrustyourbankwithyourmoney.Youcantypicallyinitiatethetransferonline,in-personorbyphone.Youdon’thavetotrustanycompanieswithyourmoney.ConsMoreexpensivethanotheroptions.Typicallyfarslowerthanotheroptions.Havetopaywithfundsthatarealreadyinyourbankaccount.4.InternationalbankdraftAninternationalbankdraftisissuedbyabankonbehalfofthepayer.Itallowsanotherbank,typicallyinanothercountry,todrawfundsdirectlyfromtheissuingbank.Internationalbankdraftscanbedrawninaforeigncurrency,removingtheneedtospeculateonfutureexchangerates.Overall,internationalbankdraftsoperatesimilarlytodomesticorderssentwithintheUS,exceptthattheyarecreatedinaforeigncurrency.ProsAcceptedinmanypartsoftheworld.Relativelycosteffectivewhencomparedtowiretransfersbetweeninternationalbanks.Canonlybecashedatabankbythepersonlistedontheinternationalbankdraft.ConsSlow,astheyhavetobephysicallymailedorhanddeliveredbetweencountries.Difficultandtimeconsumingtoreplaceiflostorstolen.5.PrepaiddebitcardsWithsomeservices,youcansendfundsviaaprepaiddebitcard.Thesenderloadsaprepaiddebitcardwithcashfunds.Therecipientcanthenwithdrawthemusingtheprepaiddebitcard.Alternatively,youcantransfermoneyfromtheprepaidcardtoabankorcardaccount.Prepaiddebitcardstendnottochargetransferfees.However,youwillmostlikelyhavetopayanactivationfeeormonthlyfee.ProsRelativelycosteffectivewhencomparedtobanktransfersRecipientdoesn’tneedabankaccountYoucanlockinasetexchangerateConsMostprepaiddebitcardscarryanactivationfeeoramonthlyfeeTheremaybealimitonhowmuchyoucanloadontothecard6.CryptocurrencyIfyouholdcryptocurrency,youcansendittoawalletanywhereintheworld.Manycryptocurrencieswillalsoletyoutradecryptocurrencyforfiatcurrency(agovernment-issuedcurrencylikeUSdollarsoreuros).WhichmeansitispossibletoexchangeUSdollarsforacryptocurrencylikeBitcoin,thentradeyourcryptocurrencyforeuros.Howeverit’snotasimpleprocess,andyou’lllikelyencounterpercentage-basedfeesateachstep,whichmakesitanexpensiveoption.Herearethekeystepstotakewhentransferringmoneyoverseasusingcryptocurrency:Transferfundstoanonlinecryptocurrencyexchange.Useyourlocalcurrencytobuycryptocurrency,whichgoesintoadigitalwallet.Sellyourcryptocurrencyforaforeigncurrency.Withdrawyourfundsfromtheexchangeplatform.ProsYoucansendmoneydirectlytoyourrecipient’scryptocurrencywalletaddress,removingtheneedforcompaniesasintermediaries.Yourtransactioncan’tbecanceled.ConsRequiresalotoftechnicalknow-howtoavoiderrors.Pricescanbevolatile,soalthoughyoumaysavemoneybyavoidingfees,youcouldloseitifthepriceofthecryptocurrencyyou’reusingasanintermediarydrops.Dependingontherouteyouuse,theremaybemanyfeestopay.ComparemoneytransferservicesFrequentlyaskedquestions HowdoItransferlargeamountsofmoneyinternationally? Thereareseveralwaysthatyoucantransferlargeamountsofmoneyinternationally.Thecheapestandfastestoptionismostlikelyaninternationalmoneytransferprovider.Specialistmoneytransfercompaniestendtoofferthemostcompetitiveexchangeratesandchargelowerfeesthanyourlocalbank.Useourtabletocompareproviders'transferspeedsandfees. Isitlegaltotransferlargeamountsofmoney? Itislegaltotransferlargeamountsofmoney.However,you'llneedtoabidebyUSlawsputinplacetoprotectbothyourmoneyandtheinterestsofthegovernment.Whichmeansthatalltransfersthatareover$10,000willneedtobereportedtotheIRS. Arewiretransfersover$10,000reportedtotheIRS? Yes.Infact,allwiretransfersmaybereportedtotheIRSbythecompanyyouaresendingthemthrough.Failingtoreportalargemoneytransferonyourpartmaygetyouintotrouble.ThetypicalinternationaltransferlimitthatshouldbereportedtotheIRSis$10,000andabove.Learningabouttaxesdueonmoneytransferscansaveyoutroubledowntheline. WhatisthemaximumamountofmoneyIcantransferoverseas? Thereisnomaximumlimitonhowmuchyoucantransferoverseas.However,youwillneedtomakesurethatyoufiletheappropriatetaxforms.Additionally,ifyouaresending$1millionormoreoverseas,checkthatyourtransferprovidercansecurelyhandletransfersofthatsizebeforegettingstarted. HowcanIinstantlytransferlargeamountsofmoney? Oneofthefastestwaystotransfermoneyinternationallyistouseacashpickupservice.Theyallowyourrecipienttohavealmostinstantaccesstothemoneyyouhavesent,withouttheneedforabankaccount. Whatisthesafestwaytotransferlargeamountsofmoney? Oneofthesafestwaystosendlargeamountsofmoneyabroadistouseareputable,regulatedmoneytransferprovideroryourbank.Youwillmostlikelyfindthatspecialistmoneytransferservicesarelessexpensive,andhaverobustsecuritymeasuresthatwillprotectbothpartiesinvolved. Howmuchmoneycanyoutransferatonce? Thereisnolimittohowmuchmoneyyoucantransfer,butinmostcasesbanksandmoneytransferserviceswillhavetheirownupperlimits.Ifyouaretransferringabove$10,000,thenyouwillalsohaveIRSreportingresponsibilities. CanIbringlargesumsofcashtoanothercountry? Therulesaroundbringinglargesumsofcashtoanothercountrywilldependonwhichcountryyouarevisiting.Itisworthcheckingyourdestination'scustomguidelinesbeforemakingyourtrip.AlsokeepinmindthatunderUSlaw,anytimeyoutravelinternationallywithmoney,you'rerequiredtodeclareanycashover$10,000. Wasthiscontenthelpfultoyou? Yes No Thankyouforyourfeedback! KevinJoeyChen linkedin KevinJoeyChenisacreditcards,bankingandinvestmentswriterwhoseworkandanalysishaveappearedonCNN,U.S.News&WorldReport,Business.com,LifehackerandCreditCards.com.He'spassionateabouthelpingyougetyourfinancesinorderbyexpertlynavigatingcutting-edgefinancialtools—includingcreditcards,appsandbudgetingsoftware. Sharemoneyreview Review:Payoneerinternationalpaymentservices MoreguidesonFinder Albertreview Adigitalaccountthatprioritizesyouraccesstoyourmoneyandislightonfees. Monifireview Anapp-focusedbankthatofferscompetitivesavingsrates,minimalfeesandagoal-orientedapproachtomanagingmoney. KinectaFederalCreditUnionCDreview ChoosefromfourtypesofCDsandearncompetitiverateswithalow$100minimumdeposit. EnjinXMarketplacereviewandguide EnjinXisanNFTMarketplacewhereassetscanbepurchasedwithENJ.Enjinbuildsnext-gengamesusingEthereumbasedNFTs. FirstBoulevardaccountreview FirstBoulevardoffersbankingservicestailoredtoBlackAmericans,butit’scurrentlywaitlisted. FirstCommonwealthBankHometownChecking+Interest+Solutionsreview FirstCommonwealthBank’sHometownChecking+Interest+Solutionsaccounthasattractivefeatures,butcouldcostyou. FirstCommonwealthBankHometownCheckingreview FirstCommonwealthBank’sHometownCheckinghasmanyattractivefeatures,butoverdraftscanaddupquickly. FirstCommonwealthBankHometownChecking+Interestreview FirstCommonwealthBank’sHometownChecking+InterestaccounthasdecentfeaturesbutearnsalowAPY. MissionLaneMoneyDebitCardreview TheMissionMoneydebitcardiscompletelyfree,butitlacksfeatures. HowtobuyLitecoinwithPayPalintheUS LitecoinisoneoffourcryptocurrenciesnowofferedbytheglobalpaymentsproviderPayPal.FindouthowtobuyandsellLitecoinaswellasthetransactionfeesinvolvedwhenpurchasingthiscryptocurrency. AskanExpert Clickheretocancelreply. DisplayName YourEmail(willnotbepublished) YourQuestion Youareabouttopostaquestiononfinder.com: Donotenterpersonalinformation(eg.surname,phonenumber,bank details)asyourquestionwillbemadepublic finder.comisafinancialcomparisonandinformationservice,notabankor productprovider Wecannotprovideyouwithpersonaladviceorrecommendations Youranswermightalreadybewaiting–checkpreviousquestions belowtoseeifyourshasalreadybeenasked Iaccept YourQuestion Δ Askyourquestion Finder.comprovidesguidesandinformationonarangeofproductsandservices.Becauseourcontentisnotfinancialadvice,wesuggesttalkingwithaprofessionalbeforeyoumakeanydecision. Bysubmittingyourcommentorquestion,youagreetoourPrivacyandCookiesPolicyandfinder.comTermsofUse. Questionsandresponsesonfinder.comarenotprovided,paidfororotherwiseendorsedbyanybankorbrand.Thesebanksandbrandsarenotresponsibleforensuringthatcommentsareansweredoraccurate. ShareEmailTwitterFacebookWhatsappCurrentpagelinkCopyCurrentpagelinkCopiedtoclipboard Feedback Howlikelywouldyoubetorecommendfindertoafriendorcolleague? 0 1 2 3 4 5 6 7 8 9 10 VeryUnlikely ExtremelyLikely Required Submit Whatisyourfeedbackabout? Whatisyourfeedbackabout? Sitespeed Contentquality Easeofuse Easeoffindinginformation Siteappearance Other Required Pleasetellushowwecanimprove Required E-mailaddress–optional Optional,onlyifyouwantustofollowupwithyou. Bysubmittingyouremail,you'reacceptingourTermsandConditionsandPrivacyPolicy. Submit Thankyouforyourfeedback. Ourgoalistocreatethebestpossibleproduct,andyourthoughts,ideasandsuggestionsplayamajorroleinhelpingusidentifyopportunitiestoimprove. × AdvertiserDisclosure finder.comisanindependentcomparisonplatformandinformationservicethataimstoprovideyouwiththetoolsyouneedtomakebetterdecisions.Whileweareindependent,theoffersthatappearonthissitearefromcompaniesfromwhichfinder.comreceivescompensation.Wemayreceivecompensationfromourpartnersforplacementoftheirproductsorservices.Wemayalsoreceivecompensationifyouclickoncertainlinkspostedonoursite.Whilecompensationarrangementsmayaffecttheorder,positionorplacementofproductinformation,itdoesn'tinfluenceourassessmentofthoseproducts.Pleasedon'tinterprettheorderinwhichproductsappearonourSiteasanyendorsementorrecommendationfromus.finder.comcomparesawiderangeofproducts,providersandservicesbutwedon'tprovideinformationonallavailableproducts,providersorservices.Pleaseappreciatethattheremaybeotheroptionsavailabletoyouthantheproducts,providersorservicescoveredbyourservice. Close Gotosite