An exchange rate shows how much a currency is worth in another currency. If your recipient hasn’t received your transfer as scheduled, you may need to trace it. Your bank could charge a fee for requesting the wire transfer in a branch or over the phone, instead of online. You may be able to save a few dollars per transfer when you set up recurring wire transfers. International wire transfers typically involve multiple banking systems and operators between the 2 countries. Because domestic wire transfers involve less processing, they tend to be cheaper than international wire transfers. This is because the sender usually bears the brunt of the costs associated with the wire transfer. The wire transfer fee for incoming funds tends to be cheaper than the fee for outgoing funds. Your wire transfer fee will depend on where you’re sending money to as well as other elements including: How can I compare these bank wire transfer fees? * This is a fictional, but realistic, example. You would have saved more and got a stronger exchange rate if you had used an online money transfer service. In this case, the bank wire transfer fee and processing time is the highest among the 3 options.
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