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 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
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
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
1 USD = 1.32 AUD
1 USD = 1.26 AUD
1–2 business days
3–5 business days
Bank to bank, online
Total AUD received
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.
Send money internationally with Wise
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Fair service fees and mid-market rates – a major market differentiator
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:
“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.
Leah Fallon is an editor with more than 10 years of teaching under her belt. She's written feature pieces for regional print and digital media. When she's not helping people with their finances, you can find her wrangling her two sprightly girls or running the trails of Virginia.
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