Contents
- What Affects the Cost of Sending Money to the US?
- 5 Cheapest Ways to Send Money to the US
- 1. Wise (Formerly TransferWise)
- 2. Revolut
- 3. OFX
- 4. USPS International Money Orders
- 5. Bank Transfers
- Comparison of Top Services
- Tips to Reduce Costs Further
- FAQ: Sending Money to the US Affordably
- What’s the overall cheapest service?
- Is Revolut safe for large transfers?
- Are there hidden fees?
- How fast are budget transfers?
- Can I send cash cheaply?
What Affects the Cost of Sending Money to the US?
When transferring funds internationally, costs depend on:
- Transfer Fees: Flat fees charged by providers.
- Exchange Rates: Markups on the mid-market rate.
- Transfer Speed: Faster options often cost more.
- Payment Method: Credit cards may incur higher fees than bank transfers.
5 Cheapest Ways to Send Money to the US
1. Wise (Formerly TransferWise)
- Cost: Low fees (0.4%–1.5%) + mid-market exchange rate.
- Best For: Transfers under $10,000; multi-currency accounts.
- Speed: 1–2 business days.
2. Revolut
- Cost: Free transfers for Standard users (fair usage limits apply).
- Best For: Frequent small transfers; app-based convenience.
- Speed: Instant to 3 business days.
3. OFX
- Cost: No fees for transfers over $10,000; competitive rates.
- Best For: Large transactions (e.g., property purchases).
- Speed: 1–2 business days.
4. USPS International Money Orders
- Cost: $12.25 fee for up to $1,000.
- Best For: Non-urgent, small amounts without a bank account.
- Speed: 7–14 days.
5. Bank Transfers
- Cost: High fees (up to $50) + poor exchange rates.
- Best For: Security over cost savings.
- Speed: 3–5 business days.
Comparison of Top Services
| Service | Fees | Exchange Rate | Speed |
|---|---|---|---|
| Wise | 0.4%–1.5% | Mid-market | 1–2 days |
| Revolut | Free (Standard) | Mid-market | Instant–3 days |
| OFX | $0 (over $10k) | Competitive | 1–2 days |
| USPS | $12.25 | N/A | 1–2 weeks |
| Banks | Up to $50 | Poor | 3–5 days |
Tips to Reduce Costs Further
- Compare providers using tools like Monito or MoneyTransfer.
- Avoid weekend transfers (rates fluctuate more).
- Bundle transfers to minimize fees.
- Check for first-transfer promotions.
FAQ: Sending Money to the US Affordably
What’s the overall cheapest service?
Wise offers the best balance of low fees and fair rates for most transfers.
Is Revolut safe for large transfers?
Yes, but free tiers have limits. Upgrade to Premium for larger amounts.
Are there hidden fees?
Watch for recipient bank fees and intermediary charges. Confirm total costs upfront.
How fast are budget transfers?
1–3 days for digital services; money orders take 1–2 weeks.
Can I send cash cheaply?
USPS money orders are cash-friendly but slower.
