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Chase Bank wire transfer review

A quick and convenient money transfer service — but watch out for high fees and weak exchange rates.

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  • Great for secure and convenient transfers with a trusted institution.
  • Not so great for non-Chase Bank customers.

Chase Bank serves nearly half of US households with a broad range of financial products. Its wire transfer service allows you to send money abroad in over 40 currencies to more than 90 countries worldwide. You can choose between sending secure international money transfers online or at one of its 4,700 branch locations nationwide. Just be aware of member requirements, weak exchange rates and comparatively high transfer fees.

Why should I consider Chase Bank?

  • Secure transfers. Wire transfers are a secure and reliable way to send money to international bank accounts.
  • Trusted institution. Chase is backed by JP Morgan Chase & Co. and has ranked No.1 for customer satisfaction in the large bank category for three consecutive years by the American Customer Satisfaction Index.
  • Easy process. Chase provides step-by-step instructions for hassle-free money transfers.

What to be aware of

  • Transfer fees. Chase Bank wire transfer fees are typically more than you would find with an independent money transfer provider. For example, Chase charges $40 for transferring money from your checking account to a bank account outside the US in US dollars.
  • Chase customers only. You need to bank with Chase and set up a checking account to make a wire transfer.
  • Weak exchange rates. Chase Bank normally adds a 4-7% margin on top of the interbank rate. If you send money abroad regularly, this could cost you hundreds of dollars. Money transfer specialists usually offer better exchange rates than most banks.

How much are Chase wire transfer fees?

The Chase wire transfer fee you’ll pay depends on how you’re sending the transfer and whether you’re sending or receiving an international or domestic wire transfer. All transfers between Chase accounts are fee-free.

Chase offers lower fees when transferring using its foreign currency exchange option, but keep in mind that the exchange rate offered by Chase may be far weaker than other money transfer providers.

Outgoing (from online)Outgoing (from a Chase branch)IncomingBetween Chase accounts
Chase domestic wire transfer$25$35$15$0
Chase international wire transfer$40$50$15$0
Chase international wire transfer (in foreign currency)$5 ($0 for transfers of $5,000 or more)$50$15$0

How are Chase Bank’s exchange rates?

Like any large bank, Chase updates its rates in line with global currency market fluctuations. The Chase currency exchange rates you’ll be offered are similar to those of other large US banks but not as competitive as the rates you’ll get from a money transfer specialist.

It’s worth keeping in mind that Chase Bank’s wire transfer service adds a 4-7% margin on top of the mid-market exchange rate for international transfers. Therefore, it is best to compare the displayed rate on Chase with the current interbank rate to work out the size of this margin.

Available currencies

Chase Bank allows you to send money in more than 40 currencies to over 90 countries worldwide, including:

  • AUD Australian dollar
  • CAD Canadian dollar
  • DKK Danish krone
  • EUR Euro
  • GBP British pound
  • HKD Hong Kong Dollar
  • INR Indian rupee
  • JPY Japanese yen

What are the ways I can send money abroad with Chase Bank?

You have two options for transferring money with Chase:

  1. One-off transfers. Make a one-time wire transfer.
  2. Recurring transfers. Schedule a repeating wire transfer.

You can send your international wire transfer on the same day or initiate a transfer for a future date online or at a Chase bank branch. If you submit your transfer by 4 p.m. ET, it will be processed the same business day.

Through Chase’s online banking service, you can send repeat wire transfers to the same recipient and delegate others to request and approve wire transfers.

What payment methods does Chase Bank accept?

Chase only allows payment via bank transfer. You also need a checking account with Chase Bank to use its international money transfer service.

How long does a transfer with Chase Bank take?

Domestic wire transfers usually take 1-2 working days for the funds to be received, while international wire transfers can take anywhere from 3-5 business days. It’s also important to note that Chase’s total wire transfer limit is $250,000 per business day, and the wire cut-off time is 4 p.m. ET. If you submit your request after this cut-off, it will be processed the next business day.

Transfers typically takeClock icon for transfer speed

3 days

How to make your first wire transfer with Chase Bank

To send an international wire transfer with Chase, you first need to open a checking account. Once you’ve set this up, you can take these steps to transfer money online:

Making an international wire transfer with Chase Bank

  1. Add a wire recipient to your account. You need to provide their full name, physical address, country and a nickname.
  2. Fill in the recipient’s bank information. This includes your recipient’s IBAN number.
  3. Review the transaction details. Confirm your transfer details and send your funds.

Is Chase Bank safe to use?

  • Regulation: Regulated by the Office of the Comptroller of the Currency
  • Security: Multiple authentication checks, fraud monitoring, 128-bit encryption technology
  • Established: 1955

Chase Bank caters to nearly half of US households and is backed by JP Morgan Chase &Co, a leading global financial services firm. It has more than 4,700 branches and 16,000 ATMs nationwide. Chase Bank has multiple security features to keep your money safe, including multi-step authentication checks, fraud monitoring, secure messages and encryption technology.

Chase Bank is regulated by the Office of the Comptroller of the Currency (OCC).

How does Chase Bank compare to other money transfer services?

If you want to see how Chase Bank compares to the exchange rates and fees offered by other money transfer services, enter your transaction details into the table below.

1 - 12 of 12
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Frequently asked questions

Written by

Zak Killermann

Zak Killermann was a technical publisher at Finder who specialized in currencies and investing. Zak’s expertise was in breaking down technical finance concepts into approachable, digestible nuggets of information. See full profile

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42 Responses

    Default Gravatar
    JasmineApril 9, 2019

    Someone purchase my product through olx and promised to pay me through bank transfer. Chase Bank emailed me a notice that Ms. Arenas already transferred the payment so I mailed the product. She already got my item but she and the Chase bank emailed me that to complete the payment I and Ms. Arenas should send 5k each to meet the minimum limit of transfer which is 40 , 500 pesos since the item only costs 30,000. Until now I’m still waiting for the payment. Please help me

      AvatarFinder
      johnbasanesApril 10, 2019Finder

      Hi Jasmine,

      Thank you for reaching out to Finder.

      We are a comparison website and not a money transfer company. You may however contact Chase directly for assistance due to the complexity of your concern. If you have the contact details of your buyer, you may also request assistance on what options you have in completing the transaction. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    AlswagMarch 17, 2019

    I want to learn how to do wire transfer this is my whatsapp number +23*********** pls help me

      AvatarFinder
      johnbasanesMarch 18, 2019Finder

      Hi Alswag,

      Thank you for reaching out to Finder.

      To send a wire transfer, you need to visit your local branch and provide the following information about the recipient’s account:
      Account holder name and full address
      Account number
      Branch number and full address
      Institution number
      Swift Code / BIC / IBAN code
      Routing Number (international)

      The representative would be able to assist you further.

      Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    KarinFebruary 6, 2019

    A friend wants to loan me $100.000 and transferred the money from his Chase account into my Chase checking account within the US. It’s the third day now and the money hasn’t arrived. Chase says that because of the large amount the transaction is ‘on hold’ and can’t say when they’ll do the transaction. What’s the reason behind this?

      AvatarFinder
      JhezelynFebruary 7, 2019Finder

      Hello Karin,

      Thank you for your comment.

      Transferring a large amount of money generally takes days for it to be done. Chase do this in order to ensure that there isn’t fraud happening when the transfer is made. If you want to check the status of the transfer, you may contact the bank directly.

      Regards,
      Jhezelyn

    Default Gravatar
    SandeepJanuary 24, 2019

    Someone transferred me money through express wire from Chase to Indian bank. It’s been 3 days but the money was not transferred yet. What to do next?

      AvatarFinder
      CharisseJanuary 25, 2019Finder

      Hi Sandeep,

      Chase international wire transfers are typically available to the recipient within 3-5 business days after being sent. However, the receiving bank (Indian bank) may have its own review process which could delay delivery.

      You can contact your sender to let him know that you still haven’t received the money in your Indian bank account so he can make a follow up on the transfer status with Chase.

      I hope this helps.

      Cheers,
      Charisse

    Default Gravatar
    AlohaDecember 9, 2018

    Is it possible to open a chase bank account in south Korea?
    If one of my family opens a chase bank account in south Korea, do they still charge for fees when money is transferred between accounts?

      Default Gravatar
      nikkiangcoDecember 12, 2018

      Hi Aloha,

      Thanks for reaching out! You can open a Chase bank account in South Korea. A fee is not charged when you transfer from one Chase bank to another Chase bank. If it’s a Chase to different bank account transfer, the charges are below:

      Chase Bank charges varying fees depending on whether you’re sending or receiving an international wire transfer:

      Outgoing fee. $40
      Incoming fee. $15 (waived for Chase Premiere Platinum accounts)

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

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