How Long Does It Take To Wire Money Internationally?

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Whether you have business deals overseas or family abroad, wiring money internationally is a big help. International wires allow money to be transferred from your bank account to someone else’s—no matter where they are in the world.

When it comes to international wire transfers, not all of them are created equal. Some have higher fees than others, some don’t have fees at all. Some are instant, some can take up to five business days. And if it’s regarding money, you know that time matters. That’s why knowing the international wire transfer time of the platform you use is important.

Read on to discover how long it takes to wire money internationally, as well as some common ways to send money internationally and their average times.

 

Time Is Money: How Long an International Transfer Takes

The average time for an international money transfer is about a day. Most wires are sent within 24 hours, and some can even be sent in a matter of minutes! Of course, this all depends on the following factors:

  • Currency type. Transferring dollars to euros can be quicker than transferring dollars to rupee since euros are more widely circulated. Wait time for transfers is shorter if it’s between commonly circulated currencies.
  • Destination country. Just like currency, if you send money to a popular country, it’ll be faster than sending money to a lesser-known country.
  • Amount sent. The larger the amount, the more likely it is to be subject to security checks that can slow down the transfer.
  • Time of transfer. Sending money during a weekend or a holiday can slow down your transfer as international transfers typically process during working hours.
  • Type of method. Transferring money can be done through a bank, transfer provider, or currency exchange platform.

 

Common International Wiring Methods

We’ve compiled a list of popular ways to transfer money overseas. Check them out to see if any are right for you:

Method: Wells Fargo

A Wells Fargo money transfer offers relatively quick send times, but steep fees.

Speed of Transfer: 1-3 business days

Cost of Transfer: $30-$45

How To Make a Transfer: Online, in-person at a branch, or over the phone

Benefits: Versatile sending options

Drawbacks: Poor exchange rates

Great for: Sending money to places with limited internet access

 

Method: Chase

Sending money through a Chase international wire transfer? Here’s what you need to know:

Speed of Transfer: 3-5 business days

Cost of Transfer: $40-$50

How To Make a Transfer: Online, in-person at a branch, or over the phone

Benefits: Longer wait times

Drawbacks: Poor exchange rates

Great for: Sending money to places with limited internet access

 

Method: OFX

OFX is trusted in the world of global remittance.

Speed of Transfer: 1-3 business days

Cost of Transfer: $5

How To Make a Transfer: Online, app, or over the phone

Benefits: Fixed fee amount

Drawbacks: Unreasonable fee for low amounts

Great for: Sending large amounts of money

Method: Wise

The international wire transfer time for Wise is one of the best times you’ll find around.

Speed of Transfer: 1-2 business days

Cost of Transfer: 1% of U.S. transfer

How To Make a Transfer: Online or app

Benefits: Very low fees and competitive exchange rates

Drawbacks: Limited sending options—no in-person sending

Great for: Sending money for business deals

A Fifth Option: GammaRey

GammaRey is the ecosystem for the new world economy. It’s a hub for holding digital currencies, sending instant international money transfers, and virtual credit cards. The future of money is here—and it starts at GammaRey.

Learn More

 

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