How to send money internationally with Chase Bank?
In this article, we will explain step by step how you can send an international money transfer through Chase Bank. We will also go over a few of the popular transfer alternatives, which may help you save money on the fees and exchange rates.
1. Register an account
First of all, you need to open a checking account with Chase Bank. To do this, visit their local branch or fill out the online form. If you already have an account you may need to enable “online banking” features, as we will be covering this form of transfer (ordering an international bank wire at branch can cost even up to $40 in fees, that’s why it’s better to do this online).
2. Add recipient and fill out the information
Navigate to “Add a wire recipient” button and type in the basic information about your recipient. Then, you will need to fill in their banking information.
What information do I need to wire money?
If you need a general tutorial on how to send money online to someone else’s bank account, you can read our article, which explains different transfer methods, provides essential information about international remittance services and covers all of the charges.
For Chase bank wire remember to prepare:
- Your recipient’s account number,
- Recipient’s name and mailing address with city, region, country and postal ZIP code
- Recipient bank routing/SWIFT number
If you are wondering what are all of these banking numbers, we’ve prepared an article about SWIFT and how it works.
3. Verify and accept the transfer
Double check if everything is correct. Remember, that international transfers may require currency conversions. Make sure that you’ve chosen correct currency (otherwise, your transfer may be rejected or some inconvenient exchange rates may be applied, resulting in high additional fees).
How much it costs?
In order to send money with Chase, you need to open a checking account with them. There are different account types, as each of them offers different features. However, you may need to pay a monthly fees if you don’t meet certain requirements. In that case prepare for $10-$25 monthly maintenance fees.
Transfers in foreign currency, which are larger than $5,000 are free of any additional charges. However, you should be prepared for some markup on the exchange rates. Smaller transfers may cost $5.
If you travel frequently and you already have an account with Chase, you may want to try out their card offer. That way you can save money on international payments or overseas ATM withdrawals. In that case, we’ve prepared a review of debit, credit and pre-paid card Chase for international payments.
Which countries are supported?
You can most likely send money to all of the countries, apart from few, which are limited due to US Sanctions: Afghanistan, Belarus, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar, Sierra Leone, Syria.
When will the money be delivered?
The bank says that international transfers are processed within 3-5 business days. However, when it comes to regular domestic transfers, they usually take only one day.
What are the alternatives?
If you are Chase customer and need to make a single international payment you should be good with them. However, if you are looking for a convenient and cheap way to transfer funds overseas regularly, you may want to look into online remittance services. These independent companies often offer significantly cheaper transfers. Depending on where you need to send money, there are companies which specialize in transferring funds between particular countries. Here on Wirly, we provide detailed reviews of all money transfer companies. You can also use our Fee Compare Tool - just type in how much you need to send and we will show you how much the same transfer will cost in all of the available remittance platforms and banks.