How to send money to Iran from US with the best USD-IRR rate

The exchange rate determines the price you will pay when buying Iranian Rial.

A better exchange rate means more money being sent to Iran.

If you are paying for services in Iranian Rial from the United States, this can make a huge difference.

The current rate between the US Dollar and Iranian Rial is 42,125.0005.

We should note, USD-IRR exchange rate changes almost constantly.

Understanding the averages, and then waiting a day or two can help you get more IRR for the same amount of US Dollar.

You can also use a forward contract to lock in an agreed exchange rate between the United States and Iran.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from the United States to Iran.

On average a bank transfer to Iran is 7.79% cheaper than the second-best option in the market.

Ensuring you fully understand regulations in the United States and Iran will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between the United States and Iran.

Some companies offering money transfers between the United States and Iran have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare USD-IRR rates for your specific transfer amount.

For regular transfers to Iran, shopping around each time can make a huge difference.

For sending large amounts of USD to Iran we'd recommend using Wise. They offer a combination of rates and fees when sending from the United States to Iran that is the most competitive, even at larger amounts.

There are different options for receiving Iranian Rial in Iran.

The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering transfers from the United States to Iran will offer every method for incoming Iranian Rial, so it’s best to check ahead of time.

Again, a comparison of USD to IRR providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from the United States into Iran is by sending directly to a bank account. Wise is the best company for bank transfers between the United States and Iran.

And if you need cash right away, check if cash pickup is an option for transfers between the United States and Iran.

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Iranian Rials to Iran, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need more than one.

ID can be verified in the United States through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Iran, it will be similar.

Large transactions between United States and Iran, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Iran is their easy sign up process in the United States.

Sending regular, or larger amounts of money between United States and Iran could mean there are tax declarations to consider.

Some transfers into Iranian Rial may need to be reported to tax authorities in Iran, particularly where inheritance or property purchases are involved.

Iran has many different tax obligations for residents and non-residents.

When in doubt, please contact a tax professional in the United States or Iran to discuss your personal circumstances. This ensures you are not missing any specific tax needs associated with your transfer.