And if you’re transferring over $10,000, you won’t be charged a transfer fee by us. In addition to being able to book a transfer 24/7, you’ll pay a small standard fee of $15 for transfers under $10,000 at OFX. Rather than using a bank and paying excessive fees to send your money internationally, make the smart move to OFX. The answer is, it depends on the company you use. So how much does it cost to send money internationally? Sometimes, that means your recipient may be charged less by their bank to receive the funds when you use OFX. At OFX, we use our global network of local bank accounts to move your money at the local level in an effort to reduce these fees. On top of all the other costs above, many banks charge their customers between $15 and $30 to receive international transfers. 3) Your recipient may also be charged to receive foreign payments At OFX, we know you could buy a lot with $500, so we keep our exchange rates and fees substantially lower than other money transfer providers. This rate is typically around 5% at most major banks, so if you’re sending $10,000, you may have to pay up to $500. In addition to the international transfer fee, a margin on the daily exchange rate is also tacked on to most foreign transfers. Watch out for the margin on the exchange rate This percentage can range from 0.5% to 3.9%. If you’re using a money transfer service, some fees depend on how you’re sending the money, whether it’s from a funded account, a credit card, or a debit card. If you want your money transfer expedited, you might incur yet another additional fee. Some banks will charge a different rate depending upon the currency in which your money is sent, so you might pay a higher fee if you send the money in Aussie dollars rather than in your recipient’s local currency.
You could pay up to $50 to transfer the money, but the fee will depend upon the bank that you’re using, as well as how much money you’re sending. Whenever you send money internationally, your bank will typically charge a fixed money transfer fee. Money transfer fees can vary greatly depending on your provider You might be paying for a destination wedding, purchasing an overseas property or adding a coveted item to your collection from a dealer overseas.īut how much will it cost to send money internationally? Let’s break it down. There are a host of reasons why you’d need to send money internationally. Depending on the size of your transfer, you could save hundreds of dollars by comparison shopping before you send money with your bank. All banks and money providers have different fee structures, and they all take different margins on the daily exchange rate. The short answer: it depends on who sends your money.
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