Why a wire costs more than the fee
The flat wire fee is the cost banks advertise — but on an international wire it's usually the smallest of three:
- • The wire fee — $30–$50 outgoing international, $25–$35 domestic (online; more in-branch).
- • The exchange-rate markup — banks convert at 2–4% worse than the real mid-market rate, baked into the rate so you never see it as a line item. This is usually the biggest cost.
- • Intermediary bank fees — $15–$50 per correspondent bank the money passes through, quietly deducted in transit.
Worked example: a $5,000 international wire (Chase)
Same currency — e.g. US dollars to a USD account abroad (no conversion):
- • Outgoing wire fee: $40.00 + intermediary fee (est.): $20.00
- • True cost: $60.00 — a 1.2% effective rate
With currency conversion — your dollars are converted to a foreign currency, adding a typical ~3% rate markup:
- • Outgoing wire fee: $40.00
- • Exchange-rate markup (~3% of $5,000): $150.00
- • Intermediary bank fee (est.): $20.00
- • True cost: $210.00 — a 4.2% effective rate, not the 0.8% the $40 fee suggests
- A specialist (Wise/OFX) at the mid-market rate: roughly $30 — about $180 less.
The markup scales with the amount; the fee doesn't. On a $50,000 wire, a 3% markup is $1,500 — the $40 fee is a rounding error next to it. The bigger the transfer, the more the rate matters.
US bank wire fees compared (2026)
| Bank | Intl outgoing | Domestic outgoing | Incoming intl |
|---|---|---|---|
| Chase | $40 | $25 | $15 |
| Bank of America | $35 | $30 | $16 |
| Wells Fargo | $30 | $30 | ~$16 |
| Citibank | $35 | $25 | ~$15 |
| U.S. Bank | $50 | $30 | $25 |
These are online outgoing fees; in-branch or phone wires typically cost $10–$15 more. None of them include the exchange-rate markup or intermediary fees above — which is exactly why the flat fee understates the real cost.
The cheaper way to send internationally
For cross-border transfers, a bank wire is almost always the most expensive option. Specialists like Wise and OFX use the real mid-market rate (0% markup) with no intermediary fees, charging only a small, visible percentage. See exactly how much you'd keep with the Wise and OFX calculators, measure the hidden FX cost with the exchange-rate markup calculator, or compare every service.
Frequently Asked Questions
How much does a wire transfer cost?
At major US banks, domestic outgoing wires run about $25–$35 and international outgoing wires $30–$50 (online; in-branch costs more). But the fee is only part of the story for international wires: a 2–4% exchange-rate markup and $15–$50 in intermediary bank fees are added on top, so the all-in cost on a $5,000 wire is often $150–$250, not $40.
Why is a wire transfer more than the bank's flat fee?
Three costs stack on an international wire: the flat wire fee, the exchange-rate markup (banks convert at 2–4% worse than the real mid-market rate), and intermediary/correspondent bank fees deducted in transit. The markup is usually the largest cost and the most hidden, because it's baked into the rate rather than shown as a fee.
What are intermediary or correspondent bank fees?
On an international wire, the money often passes through one or two intermediary (correspondent) banks, each of which can deduct $15–$50. Your recipient receives less than you sent, and these fees usually aren't shown to you upfront.
Are wire transfers cheaper than Wise or OFX?
Almost never for international transfers. Wise and OFX use the real mid-market exchange rate with no markup and no intermediary fees, so they typically cost a small fraction of a bank wire — on a $5,000 transfer, often around $30 versus $200+ for a bank wire.
How can I avoid wire transfer fees?
For international transfers, use a specialist like Wise or OFX instead of a bank wire to skip the markup and intermediary fees. For domestic transfers, use free ACH, Zelle or real-time payments unless you specifically need same-day, guaranteed funds. Sending online rather than in-branch also lowers the flat fee.
Does an international wire always convert currency?
No. If you send in a currency the recipient's account already holds — for example, US dollars to a USD account abroad — there is no conversion, so no exchange-rate markup; you pay only the wire fee plus any intermediary fees. The 2–4% markup applies only when the bank converts your money into a foreign currency, which is the more common case. Use the “currency conversion required” toggle in the calculator to switch between the two.