Home Wire Transfers International Transfers Over $20,000

International Transfers Over $20,000

In a bid to help our readers find the best way to send transfers of $20,000 and above, we have put this guide together, to outline the safest, fastest and cheapest options for transactions of this size. As well as providing an overview of key factors we will run through money transfer providers that facilitate large overseas transfers.

Updated: 27/07/2022
Read time: 8 minutes
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Understanding international transfers

Worldwide transfers are offered by many service providers, but many of them are not the best choice for sending over $20,000. It might be because the currency exchange rates are uncompetitive or the fee structure is not ideal for large transfers. 

Percentage-based fee structures are the worst for large transfers because the fee will be significant. Fixed fee structures are a better choice and we will help you find money transfer companies that offer this. You also need to be aware of the available destination countries in a service provider. A limited global network might mean that you need to use additional companies for transfers. 

This guide provides help with choosing the best companies for sending over $20,000 and gives examples of 3 services that you can use to send money today. 

How to choose the best company for a transfer of $20,000 or more

Selecting a company from the money transfer industry is now harder than ever before with so many options. We understand that it can be confusing and time-consuming. Therefore, we have created a list of noteworthy factors that will help you select the best international money transfer service. 


Start by investigating the reputation of a company before creating an account. Read customer reviews, and pay attention to both positives and negatives. Social media websites and review portals like TrustPilot are a good place to start. 

Instead of paying too much attention to a single review, try to get the sentiment of multiple reviews. This will give you an accurate picture of what to expect when you use the company for transferring funds. 

Worldwide coverage

International money transfer customers should focus on the available destination countries. Pay attention to the countries available for the sender and recipient because they might not be the same. 

Restrictions may apply to specific countries that are of interest to you. Some countries might be limited in terms of the transfer cap or available payment methods. If transfer caps apply, then you may not have the option of sending $20,000. 

Mobile app

Mobile apps are a great way of sending money internationally if the money transfer service offers it. The majority of transfer providers have their own mobile app but some do not. Therefore, you need to check on the Google Play and App Store platforms. Also, check the list of available features to figure out if international money transfers are among them. 

Do not skip the customer reviews because they can help you decide if the mobile app is worth downloading. Ideally, the mobile app score should be at least 4.0 out of 5 to ensure that it offers good functionality. 

Fees and exchange rates

Money transfer services are not worth using if they charge high fees and a poor currency conversion rate. A fixed fee structure is best for large transfers of over $20,000 because the charge will not be significant. You want to avoid a percentage-based fee structure because it will result in high fees. For instance, if you were charged 3% for transferring $20,000, then you would pay a fee of $600. This is significantly higher than a fixed fee of about $25. 

The most competitive money transfer companies will match the mid-market rate. Companies like Xe and Wise offer this service, which means they are a good choice for sending money internationally. Find transparent services that display the up-to-date currency conversion rate that you will be paying. 

Transfer limits

Customers that want to send over $20,000 need to consider the transfer cap. This helps avoid making multiple smaller payments over a lengthy time period. You need to consider the yearly, monthly, weekly, and daily limits because they may vary significantly. Try to find a service that offers the limits that match your requirements. 

How to reduce fees for transfers over $20,000

You can save a lot of money on transfer fees when sending over $20,000. The best services are those that cap the fee at a specific low number no matter the transaction size. It means you can send as much money as you want while only paying a fee of $25, for example. When choosing a transfer provider you need to avoid a percentage-based fee structure. These can result in massive fees that can easily be saved. 

Furthermore, card companies like MasterCard and VISA charge extra fees for sending money, which is in the range of 1.5-3%. To avoid these fees you need to choose a favorable transfer method. Balance transfers are a good choice. That is because the fees are typically low and transfer speeds fast. 

Finally, consider companies that match the mid-market rate. Otherwise, you will be paying a percentage-based fee because of the poor currency conversion rate. Xe is a transparent money transfer company that matches the mid-market rate, which means their currency exchange services cannot be beaten. 

The best 3 companies for international transfers over $20,000

We understand that it can be difficult to find the best money transfer company for sending $20,000 without a lot of research. If you want to select a company right now, then consider the 3 options we have vetted for you. 

1. Instarem 

Instarem is a good option for transfers over $20,000 because they match the mid-market rate. Also, they provide transfers to over 150 countries, which offers a lot of flexibility. The transfer fee is percentage-based but it starts at only 0.25%, which means the fees will be low. 

2. Wise

One of the top money transfer services that you can rely on for transparency is Wise. They also match the mid-market rate, which means you are getting the best currency conversion rate possible. It is ideal for customers who have had a poor experience with providers that charge uncompetitive rates. Wise also provides transparent fees and balance transfers that are fast. Wise has a TrustPilot Score of 4.5 out of 5, which means you can trust it for large deposits. 

3. OFX

OFX is a great service for customers that require large transfers because they do not charge a direct fee. They offer a diverse range of payment and transfer options, which is ideal if you prefer using a specific one. Also, they provide a global network of 195 countries, which is a good match for most customers. 


To conclude, there is a good choice of international money transfer companies for sending over $20,000. We have provided the top 3 options for you to select today or use the top factors for selecting one of your own. 

We encourage our readers to explore the common practices recommended across our site for larger money transfers. There is a great deal of useful information available site-wide, such as our International Money Transfer Limits guide, designed to help our users securely and inexpensively move money around the world. 

Frequently asked questions

How to avoid scams when transferring money internationally?
Are free transfers possible when sending over $20,000?
Can I send over $20,000 with my mobile app?

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International Transfers Over $20,000
In a bid to help our readers find the best way to send transfers of $20,000 and above, we have put this guide together, to outline the safest, fastest and cheapest options for transactions of this size. As well as providing an overview of key factors we will run through money transfer providers that facilitate large overseas transfers.
Article Factchecked by Elliot Laybourne on 20th July 2022

Elliott is a former investment banker with a 20 year career in the city of London.

During this time he held senior roles at ABN Amro, Societe Generale, Marex Financial and Natixis bank, specialising in commodity derivatives and options market-making.

During this time, Elliott’s client list included Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System, amongst others.

April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.

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