A solid exchange rate can save you a lot when transferring $5,000 overseas.
Helping out friends and family. Investing in a business enterprise. Supporting a child studying in Spain.
When you need to send $5,000 to family, friends or businesses in other countries, your priorities may differ — but you ultimately want the best deal. The key to unlocking that deal is a competitive exchange rate and low transfer fees.
What are my options?
You may be lured by the convenience of your local bank. But in nearly all cases, banks offer weaker exchange rates, higher fees and fewer options to send and receive when compared with a money transfer service.
Unlike banks, money transfer services like OFX and World First specialize in one thing: transferring money to countries worldwide. This expertise allows them shave down your overall costs. When sending $5,000, even a few more cents on an exchange rate can add up to major savings.
Compare your international money transfer options
Case study: Liz sends $5,000 to family in Australia
Liz has saved to surprise her parents with $5,000 toward needed improvements on her family’s Sydney home. Sick of her bank’s high fees and weak exchange rates, she looks at easier, cheaper ways to send money to Australia.
|Money transfer service||Major US bank|
|Exchange rate||1 USD = 1.32 AUD||1 USD = 1.26 AUD|
|Transfer speed||1–2 business days||3–5 business days|
|Transfer options||Online transfer||Bank to bank, online|
|Total AUD received||6,633.15 AUD||6,300 AUD|
Liz learned that by passing up her local bank for an online money transfer service, she could save more than $20 in transfer fees and send a whopping 333 more Australian dollars to her folks for a vanity upgrade.
Our pick: TransferWise
When you need to send money, benefit from competitive mid-market exchange rates and straightforward fees with TransferWise.
- Fair service fees and mid-market rates — a major market differentiator.
- Next-day delivery to your loved ones and businesses.
- Trusted the world over, with five-star ratings on Trustpilot.
$0 fees with OFX and World FirstTrusted partners of finder.com, OFX and World First have no transfer fees for qualifying transfers. See how they compare to find the right one for your needs.
|Maximum transfer||No limit||No limit|
|Transfer speed||2 days||1 day|
|Transfer methods||Online, phone, agent, bank-to-bank, money order||Online phone|
Transfer $5,000 from the United States
Shopping around for the best deal when you need to transfer $5,000 overseas could save you hundreds of dollars. Specialist money transfer providers are a secure and cost-effective option, offer stronger exchange rates and lower fees than US banks.
Your reasons for sending $5,000 overseas could be to:
- Settle a debt
- Buy property overseas
- Send money to loved ones
- Pay a business supplier
- Make regular overseas transfers
- Support overseas education fees
You’ll meet most minimum transfer requirements when sending $5,000, which narrows your points to evaluate when comparing your options for an affordable deal.
|Provider||Minimum transfer amount||Maximum transfer amount|
|World First||$250||No limit|
|Travelex International Payments||$500||No limit|
|Currency Online||$0||No limit|
“Go to site” for the best deals among our partners
When sending $5,000 or any amount to another country, you’ll want to find the best service for your situation. To take advantage of any deal in our comparison table above, click “Go to site” to begin your transfer with that trusted partner.
Each of our transfer partners offers safe, secure and affordable overseas money transfers, allowing you to send quick and cost-effective transfers anywhere in the world.