The sending bank charges the fee, but the receiving bank may charge one too
When you send a wire transfer, your bank charges you a fee for sending it. The receiving bank may also charge a separate fee to the person who receives the money. So the answer is: both banks can charge, but the sending bank's fee comes out of your account, and the receiving bank's fee comes out of the recipient's money.
The sending bank's fee is what you see upfront when you initiate the transfer. This is the cost to your bank for processing and sending the wire. The receiving bank's fee is less visible — it gets deducted from the amount the recipient actually receives, unless the receiving bank decides not to charge one.
Which bank charges what depends on the banks involved, the country the money is going to, and the type of wire. Domestic wires (within the United States) usually have lower fees than international wires. International wires often involve multiple banks in the chain, and each one may take a cut.
Key Takeaways
- Your sending bank always charges you a fee; this amount is deducted from your account before the wire leaves.
- The receiving bank may charge a separate fee that reduces the amount the recipient gets, though some banks waive this fee.
- Domestic wire fees typically range from $15 to $30 per transfer, while international wires often cost $35 to $50 or more depending on the destination country.
- You should ask your bank for the exact sending fee before you initiate the transfer, and tell the recipient to ask their bank whether they charge a receiving fee.
- International wires may pass through intermediary banks, and each one can deduct a fee, so the recipient may receive less than you sent.
What your sending bank charges and when you pay it
Your bank charges you a fee to send the wire. This fee is deducted from your account at the time you send the transfer. You pay this fee regardless of whether the receiving bank charges one — it is separate.
Sending fees vary by bank. Some banks charge a flat rate (for example, $25 for a domestic wire). Others charge different amounts depending on whether the wire is domestic or international. A few banks offer free outgoing wires to customers who meet certain conditions, such as maintaining a minimum balance or having a premium account type.
You should call your bank or log into your online banking to find out the exact fee before you send. The fee will be shown to you before you confirm the transfer, so you can see the total amount that will leave your account.
What the receiving bank may charge and how it affects the recipient
The receiving bank may charge a fee to receive and deposit the wire into the recipient's account. This fee comes out of the money that arrives, so the recipient gets less than you sent. For example, if you send $1,000 and the receiving bank charges $15, the recipient's account is credited with $985.
Not all banks charge a receiving fee. Some banks waive it for customers or for certain types of accounts. The receiving bank's policy is not something you control — it is up to them. The recipient should contact their bank to find out whether they charge a receiving fee and how much it is.
This is why it matters to tell the recipient which bank they use. If they know their bank charges a receiving fee, they can factor that into what they expect to receive. If the amount matters (for example, if you are sending rent money), you may need to send extra to cover the fee.
Domestic wires versus international wires
Domestic wires (sent within the United States) usually have lower fees because the money moves directly between two U.S. banks. Your sending bank charges you, and the receiving bank may charge the recipient. That is typically the end of it.
International wires are more expensive because the money often passes through intermediary banks in other countries. Each bank in the chain may deduct a fee. Your sending bank charges you upfront. The receiving bank charges the recipient. But banks in between may also take a cut, and the recipient has no way to know how much until the money arrives.
International wire fees from U.S. banks often start at $35 to $50 for the sending fee alone. The receiving bank's fee and any intermediary fees are on top of that. If you are sending money internationally, ask your bank for an estimate of the total cost, and let the recipient know that the amount they receive may be less than what you send.
How to find out the exact fees before you send
Call your bank's customer service line or visit a branch and ask for the wire transfer fee. Be specific: tell them whether it is a domestic or international wire, and if international, tell them the destination country. The fee may vary based on these details.
Ask your bank whether the fee is flat or whether it is a percentage of the amount you are sending. Ask whether there are any ways to reduce or waive the fee (for example, through a premium account or a minimum balance).
For the receiving bank's fee, you will need to ask the recipient to contact their bank. They should ask whether their bank charges a receiving fee for incoming wires and how much it is. This information helps you decide whether to send extra money to cover the fee.
What happens with intermediary banks on international wires
When you send money internationally, it often does not go directly from your U.S. bank to the recipient's foreign bank. Instead, it passes through one or more intermediary banks. Each intermediary bank may charge a fee for processing the wire.
These intermediary fees are deducted from the amount in transit, so the recipient receives less than you sent. Your bank may not tell you in advance how many intermediary banks will be involved or how much they will charge. This is one reason international wires are unpredictable.
If the exact amount matters to the recipient, ask your bank whether they can provide a quote that includes intermediary fees. Some banks can do this; others cannot. If your bank cannot, send extra money to account for the possibility of intermediary deductions.
Who pays if something goes wrong
If the wire is sent to the wrong account or is delayed, your bank is responsible for fixing it. You should not be charged a second fee to correct the error. If the receiving bank made an error on their end, they are responsible.
If you are charged a fee for a wire that failed or was reversed, contact your bank and ask them to refund it. Most banks will do this without argument.
Frequently Asked Questions
Can I ask the recipient to pay the receiving fee instead of me?
You can ask, but the receiving bank will charge their customer (the recipient), not you. If you want the recipient to receive the full amount you send, you need to send extra to cover their bank's fee. There is no way to shift the receiving bank's fee to you.
Do I pay the sending fee even if the wire fails?
Most banks do not charge you if the wire fails before it is sent. However, if the wire is sent but rejected by the receiving bank, you may be charged. Ask your bank about their policy before you send. If you are charged for a failed wire, request a refund.
Is there a way to avoid wire transfer fees?
Some banks offer free outgoing wires to certain customers or for certain account types. Check with your bank about whether you may have access to. For receiving wires, the recipient should ask their bank whether they waive receiving fees. Otherwise, wire transfer fees are standard and unavoidable.
Why does the recipient receive less money than I sent?
The recipient receives less because their bank (and possibly intermediary banks) deducted fees from the amount in transit. This is especially common with international wires. If you need the recipient to receive a specific amount, send extra to cover the fees.
Can I find out the receiving fee before I send the wire?
You can ask the recipient to contact their bank and find out their receiving fee. Once you know it, you can decide whether to send extra money to cover it. Your bank cannot tell you what another bank will charge.