![]() ![]() Student accounts sometimes have wire transfer fees waived. Receive wire transfers from a student account For Chase Bank customers, for instance, initiating a wire transfer online can save $10. Making a wire transfer through the bank's website online could lower your fees. Wires transfers made over the phone or in-person can cost more at some banks. Citibank also waives transfer fees for customers with Citigold Private Client accounts. Some higher-level Chase checking accounts, like Chase Private Client Checking and Chase Sapphire checking accounts, also offer free incoming and outgoing wire transfers. For example, Chase offers free incoming wire transfers when sent from another Chase account. If you already have a strong relationship with a given bank, you may be able to save on wire transfer fees. ![]() Make wire transfers with banks where you have an existing account These methods depend on your bank, but you may be able to save a few dollars. Wire transfer fees can be high, but there are ways to bring the cost down a little bit. See Insider's best free checking accounts> How to save money on wire transfer fees $50 (Beyond Checking customers receive 1 outgoing wire transfer fee waiver per month) $30 (Beyond Checking customers receive 1 outgoing wire transfer fee waiver per month) $30 (Preferred Rewards Diamond members qualify for up to 2 international transfer fee waivers Diamond Honors tier members qualify for unlimited waivers) $15 (fee waived for Preferred Rewards Platinum and Platinum Honors members) Outgoing international wire transfer fee (USD) These bank transfers generally don’t cost anything and process in one to three business days.Incoming international wire transfer fee (USD) Automatic clearinghouse (ACH) transfer: If you need to pay a monthly bill, you can often do so via ACH transfer.Money orders are generally processed quickly and can be a good option if you don’t have a checking account. You’ll pay a nominal fee of up to $5 for a money order. Money order: With a money order, you can send domestic payments of up to $1,000 to individuals and companies.Just be aware that check fraud is on the rise, so consider taking additional precautions like getting a USPS tracking number if you go this route. Paper check: Putting a paper check in the mail is still an option if you need to pay a person or company, and you generally won’t be charged a fee to send a check.It could take a few days to transfer money from your Zelle or Venmo account to a bank account. Most transactions are free through these services, and payments generally process very quickly. Peer-to-peer payment: If you’re paying an individual, you can send money via a peer-to-peer payment service like Zelle or Venmo.If a wire transfer payment sounds too cost-prohibitive, several other payment methods are available to you. For instance, it may cost less to send a wire transfer in U.S. Costs may also vary based on the currency you choose. Often, banks will charge more for wire transfers initiated at a physical branch than online transfers. If you prefer not to open a new account, review your bank’s fee schedule to determine how its wire transfer fees are structured. Doing so could help save you hundreds of dollars in fees each year, especially if you’ll be sending money internationally. Those planning to send several wire transfers each year may want to consider opening an account with a bank that charges relatively low fees for this payment service. If your bank charges wire transfer fees, you may not be able to get them waived entirely, but there are some things you can do to reduce these costs. Your fees also vary if you send a wire in U.S. If you’re sending a payment internationally, you’ll pay as much as $65 per wire transfer, depending on your bank. For instance, fees might be lower if you send a wire online versus at a local bank branch. They can also vary depending on how you send your wire. ![]() But fees for sending a domestic wire transfer can still be fairly high. As you can tell, wire transfer fees are generally lower if you’re sending a payment within the United States. ![]()
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