Best way to send money to USA | finder.com

How to send money to the United States

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Secure, affordable ways to send money from overseas.

While your local bank branch might be the most obvious option for sending money across borders, you can save on fees and take advantage of more competitive exchange rates with an online money transfer company.

OFX International Money Transfers

Our pick: OFX International Money Transfers

OFX offers flexible transfer options, 24/7 customer support and no maximum limit. Send a minimum of $1,000 per year.

  • $0 transfer fees. Send fee-free transfers to over 195 countries worldwide.
  • Transfers in 55 currencies. OFX supports major, minor and exotic currencies.
  • Flexible options. Choose from forward contracts to scheduled transfers for convenience and flexibility.

    Compare services

    Select your currency and transfer amount, and compare the fees, rates and transfer times of different providers.

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 0 1 - 2 days CAD 0.00 0.751 USD 751 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
    USD 1 1 - 2 days CAD 0.00 0.749 USD
    749
    Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
    USD 1 Within an hour CAD 0.00 0.75 USD 750 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
    USD 50 1 - 2 days CAD 0.00 0.747 USD 747 Simple, zero-margin exchange rates, plus earn loyalty points on sign up, referral and every transaction. Go to site Show details

    Compare up to 4 providers

    How do international money transfers work?

    An international money transfer is a service that exchanges one currency for another. You can begin the process either online, in person or over the phone. The provider will then take money from your bank account or use the cash you’ve given, exchange it and send it to your recipient’s bank account. If your recipient decides to pick up cash, be sure they have the tracking number to ensure the transfer goes smoothly on both ends.

    How to send money to the US

    Choose a money transfer provider and go to their website. Sign up, enter your details and your recipient’s information. Choose an amount, and currency, and fund your transfer. Write down the tracking number so you can follow up on the progress of your transfer to confirm your funds made it to your recipient.

    Banks vs. money transfer companies

    We use our banks to take care of all our other financial needs. So surely we should use them when we need to send an international money transfer, right? Not necessarily. While major banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.

    You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.

    Case Study: Michael sends money to the US

    The tech company that Michael works for in California is transferring him to their offices in London for a year to spearhead a new department there. He doesn’t want to uproot his family, so his wife and kids will be staying behind in the US Because he will be sending money home on a regular basis, he compares two money transfer providers to ensure that he gets the best deal. Michael figures he will be transferring $2,000 to his wife each month.

    Money transfer service 1Money transfer service 2
    Exchange rate1 EUR = 1.056 USD1 EUR = 1.072 USD
    Transfer fee$0$10
    Transfer time2 days2 days
    Transfer optionsOnline, phoneOnline, phone
    Amount received less the transfer fee$2,113 USD$2,134 USD

    What’s the difference?

    Although the first service provider doesn’t charge a fee, the second provider’s superior exchange rate allows Michael’s wife to receive $21 more.

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    How do I compare transfer companies when sending money to the US?

    Michael’s case highlights the importance of looking at all features of a transfer company before making a final decision. When doing your own research, check the following with each company you’re interested in:

    • Competitive exchange rate. Small differences in the exchange rate can make a big difference when transferring large amounts of money. This is an area where you could potentially incur losses if you are not careful.
    • Little to no fees. Fees can vary greatly depending on the institution and the currencies involved.
    • A range of transfer methods. Can transfers be placed online, over the phone, by visiting a branch and/or by using a mobile app?
    • Turnaround time. Will the funds be available for your beneficiary in minutes, or will they take several working days to arrive?
    • Convenient pick-up methods. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
    • Reliable customer service. What sort of customer support is offered and during what hours can you receive assistance?

    Foreign exchange rates explained

    Exchange rate is how much one country’s currency is worth compared to another. The dollar (USD) is generally strong against most global currencies, although the pound and euro are worth more. For example, for every euro you send, your recipient would receive a little over a dollar in return.

    If you sent a Mexican peso, however, is weak against the dollar. Comparing exchange rates is the most important part of sending money, so be sure your money transfer company is offering you a good rate.

    Methods of sending money to the US

    As one of the world’s most widely accepted currencies, you’ll find many ways to transfer your money to the US:

    • Bank transfers. Most major banks offer wire transfers to the US
    • Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily. A trusted partner of finder.com, OFX is offering Finder readers an exclusive deal of $0 fees.
    • Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes.
    • PayPal. You can send money abroad using your PayPal account.

    What documentation do I need?

    To send money using a money transfer provider, you should make note of the following:

        • The recipient’s full name. The beneficiary of a cash transfer will need to show photo identification. Be sure that the name you put on the order is the same as what shows on the ID.
        • Your full name. As an additional security measure, the agent may ask for the name of the sender, be sure that the recipient knows your complete name.
        • Your recipient’s contact information. Have the address and phone number of the person receiving the funds. They should also have this information for you.
        • Transaction number. There will be a transaction number given when you make the transfer. Your recipient will need to give this to the agent before the cash is released.

    Find a money transfer location near you

    Sending money to a particular state in the US?

    How safe is a money transfer?

    When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. When sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.


    Tips for picking up cash in the US

    Picking up cash can be dangerous if you’re in an area that is prone to crime, but even if you aren’t, it’s smart to be aware of your surroundings and keep your cash hidden. Take a friend and deposit your cash into your bank account as soon as possible, and always keep safety your top priority.

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    4 Responses

    1. Default Gravatar
      DanielleMay 3, 2019

      Hello, I would like to know what do you recommend to transfer higher amounts of money with better exchange rates and fees? Also , an application that you can trust.

      Thanks,
      Danielle

      • Avatarfinder Customer Care
        nikkiangcoMay 4, 2019Staff

        Hi Danielle,

        Thanks for getting in touch with Finder! When choosing a money transfer provider – it’s important to check the exchange rate beforehand to maximize the funds to be exchanged. There are no better exchange rates and as it changes periodically. Also, read through the transfer process of the provider such as transfer fees, transfer options and transfer speed to set expectations. Take note of any reference or tracking numbers should any transaction delays come up during the transfer. It’s helpful to know that we are a product comparison website and while our pages suggest options where you can send money to the United States, we are not in the position to recommend one product for you! Hope this helps and feel free to email back if you have questions.

        Best,
        Nikki

    2. Default Gravatar
      SheriApril 23, 2019

      I was wondering if I need a loan and a bank account to accept money from Ireland at all?

      • Avatarfinder Customer Care
        JhezApril 24, 2019Staff

        Hello Sheri,

        Thank you for your comment.

        It’s not necessary to have a bank account and definitely not necessary to get a loan just to receive money from Ireland. You can receive money through money transfer companies listed above and claim the cash at any pickup locations. You may show your proof of identification, reference or transaction number and other documents for you to pick up the money. Hope this helps.

        Regards,
        Jhezelyn

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