How much do banks charge to transfer money internationally ?

Banks typically charge $25–$65 per outgoing international wire transfer, with most major U.S. banks clustering around $35–$50, while incoming wires usually cost $15–$25. However, the flat fee is rarely the biggest cost — the real expense often hides in the exchange rate markup and correspondent bank deductions along the way.

Here's the actual breakdown by cost layer:

1. **Flat sender fee**: Chase, Bank of America, and Wells Fargo charge around $45 for outgoing international wires; Citibank charges $35 (waived for premium tiers); some banks like Fidelity or Marcus charge $0.
2. **Exchange rate markup**: This is the hidden cost. Banks typically mark up the exchange rate 2–4% above the true mid-market rate — on a $5,000 transfer, that alone adds $100–$200, often exceeding the flat fee itself.
3. **Correspondent/intermediary bank fees**: SWIFT transfers routed through intermediary banks can add another $15–$50 in transit, deducted before the recipient sees the funds.
4. **Incoming fee**: The receiving bank often charges its own $15–$25 fee on arrival.

This changes significantly by context: for large transfers (house down payments, tuition), the percentage-based exchange markup matters more than the flat fee; for small remittances, flat fees dominate proportionally. Credit unions average slightly less (~$41 vs. ~$49 at big banks). Globally, the World Bank reports average remittance costs still exceed 6% of the transfer amount — more than double the G20's 3% target.

Practical takeaway: don't just compare the advertised wire fee — ask your bank for the exact exchange rate it will use versus the mid-market rate, and compare total cost (fee + markup + intermediary deductions) against fintech alternatives like Wise, which typically disclose the full cost upfront and often undercut banks substantially on larger international transfers.