The best, fastest & cheapest ways to send money to United States

The exchange rate determines how much USD the recipient will get when you transfer money to United States.

For example, today, the average exchange rate between US Dollar and US Dollar is 1.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more USD.

If you do need to send USD now, we suggest using Wise. Their rate for transfers to United States was the best over the past 6 months.

The cheapest way to pay for your transfer to United States is via Bank transfer with Instarem. It is 1.8% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of USD you receive.

Here are your cheapest options:

*Based on a $2,000 transfer to United States using our 6-month comparison data. Transfer time is based on averages from multiple companies.

Avoid using a Bank transfer option for transfers to United States, as it’s the most expensive.

Credit card transfers to United States come with cash advance fees and higher interest rates on USD.

Instarem, for example, charges $15.18 when paying with a credit card vs $9.03 via bank transfer by Wise.

When possible, avoid sending USD over the SWIFT network. Despite its name, SWIFT transfers to United States are slower with steeper fees.

Any transfers over $10,000 are automatically reported to the IRS as part of AML.

Some money transfer services will put limits in place and adjust their rates accordingly. Typically, FX brokers and managed services will offer better rates for larger transfers.

Considering this, here are a few examples of transfers by amount:

Sending up to £2,000 from the UK to the USA

Sending up to $2,000 CAD from Canada to the USA

Sending $2,000 or more to the USA

For bigger money transfers of over $1,000 to the USA you’ll have largely similar options, but we’d recommend looking at providers who charge a flat fee such as WorldRemit, or no fee such as OFX.

Percentage fees, like those charged by Wise, can become significantly higher for bigger and more regular transfers, so keep this in mind when comparing rates.

Sending $10,000 or more to the USA

For occasions when you’ll be sending over $10,000 for things like tuition fees, you might want to start considering specialist money transfer providers who deal with larger transfers as standard.

Such examples would be TorFX and RegencyFX, which both offer money transfers of this amount without any fees (just the exchange rate markup).

Sending $100,000 or more to the USA

When you’re purchasing property or making significant investments in the USA, it’s time to think about specialist providers and even currency/foreign exchange brokers such as TorFX, RegencyFX, or Currencies Direct.

Companies like TorFX and Currencies Direct offer free transfers for large amounts and give access to advisors and account managers to help you along with transactions.

In general, the quicker you need USD delivered, the more it will cost you in fees.

Transfer speed to United States depends on the USD amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer $2,000 from the US to United States.

Overall, of 21 companies serving United States, Wise is the fastest regardless of the deposit method, appearing 54% of the time in our searches.

For bank or debit card deposits, services like Wise excel in this regard, offering near-instantaneous and cheapest USD transfers with $9.04 or $11.7 fees respectively and 0% markup.

Credit card transfers via Wise to USD can take up to a day with a $35.66 fee and 0% markup (keep cash advance fees in mind). This is based on 6-month data from comparisons on MoneyTransfers.com.

For most urgent transfers to United States, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for USD transfers as it's slower due to intermediary banks in United States.

There are a few ways to send money to United States:

Online

You can send money to United States with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Wise is the overall best online money transfer provider according to our 6-month analysis. They’ve appeared 79.9% of the time for USD transfers in our search system.

App

Most money transfer services supporting United States transfers have an app, often, offering a better USD rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

If you're sending money within the US, you can use Cash App, Zelle, or Venmo for quick and easy transfers.

In-person

Cash transfers to United States in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect USD.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in United States. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers to United States.

And if you need cash right away, check if cash pickup is an option for transfers to United States.

Mobile wallet services and payment apps like PayPal, Revolut, and Xoom are popular too, but they come with more limitations and higher costs compared to money transfer providers like Instarem.

To receive money in United States, you will need:

• Valid forms of ID: this could be a National ID, passport, or driving license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of USD to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in United States, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in United States, including their routing or ABA number and their BIC/SWIFT code. You won’t need an IBAN as banks in the USA do not issue them.

If you're making a large transaction to United States, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large USD transfers and will help you get things done fast.

You won’t need to pay tax on money you send to the USA from abroad in most cases, as the US government allows up to $18,000 in gifts untaxed ($36,000 for married couples).

If you’re purchasing a property or paying an employee then the situation may be different - we’d recommend talking to a tax accountant or lawyer to fully understand whether you need to pay any tax.

It’s worth noting that all transactions valued at over $10,000 are automatically reported to the IRS as part of efforts to protect your money and prevent financial crime.