International wire transfer fees for US businesses: what you really pay
An international wire has four costs: your fee, an intermediary's, the recipient's bank's, and the exchange rate. The last is usually the largest and the least visible.
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Google completes "international wire transfer" with "fee", "chase", "bank of america" and "wells fargo". The fee on the bank's page is one of four costs.
The four costs
| Cost | Who charges | Visible? |
|---|---|---|
| Sending fee | Your provider | Yes |
| Intermediary fee | Correspondent banks | Deducted on the way |
| Receiving fee | Recipient's bank | Deducted on arrival |
| FX margin | Whoever converts | In the rate |
A $10,000 payment to Spain
- Your fee: $0 to $40 depending on provider.
- Intermediary: $15 to $30 on SHA.
- Receiving: some banks charge a fee.
- FX: at a 2% margin, $200. At 0.5%, $50.
The FX line is the one to compare.
OUR or SHA
OUR means the recipient receives the full amount and you pay all fees. For invoice payments, OUR avoids short payments. Mercury, for example, lists a flat $15 OUR option.
Ways to cut the cost
- Compare your provider's rate to the mid-market rate.
- Pay in the recipient's currency if your rate is better than their bank's.
- Use a local payout rail where possible.
- Batch payments to the same country.
Paying into the United States: the local rail
| What | Detail |
|---|---|
| Local rail | ACH for batch payments; RTP and FedNow for instant transfers |
| Run by | Nacha for ACH; The Clearing House for RTP; the Federal Reserve for FedNow |
| Settlement | Same-day ACH within the business day, standard ACH the next; RTP and FedNow in seconds, 24/7, where both banks take part |
Source: Nacha: Same Day ACH. Checked when this guide was last updated; the scheme's own page has the current figures.
Where Rivet fits
Rivet pays out to 120+ countries on local rails where available, at $2 per payout on Starter, $1 on Growth and $0.50 on Scale, with FX from 0.80% to 0.30% by plan. You see the rate and fee before you confirm. Rivet is not a bank; regulated partner institutions hold the funds. See best bank for international wire transfers.
Questions people ask
How much does an international wire cost?
The sending fee varies by bank and plan, from $0 at some fintechs to $40 or more at some banks. Add intermediary fees and the FX margin.
Who pays intermediary fees?
On SHA terms, the recipient, because they are deducted from the amount. On OUR terms, the sender.
Is it cheaper to send USD or local currency?
It depends on whose exchange rate is better. Compare your provider's rate with what the recipient's bank would apply.
What does a US business need to send a wire?
The recipient's name and address, bank name, SWIFT/BIC, account number or IBAN, and purpose of payment.
Sources
Alexia compares the accounts, cards and payment tools companies weigh before they switch, and writes Rivet's market guides for founders in a specific country. Prices in Alexia's comparisons come from each provider's own pricing page on the date given in the article, rules come from the regulator or tax authority that sets them, and every source is listed at the end.
More from Alexia M. →This article is general information, not legal, tax or financial advice. Rules and fees change; check the sources above and the provider’s current terms before you act on them.
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