Wise (TransferWise)
Learn how to compare your options — including fees, exchange rates and transfer speeds — to find the best service when sending money to the Empire State.
Your options will vary depending on whether you’re in the US or abroad.
Most major US banks offer free bank-to-bank domestic transfers (or waive fees for account holders). However, you’re limited to transferring cash from your bank account to your recipient’s bank account.
If your recipient doesn’t have a bank account or needs the cash more quickly than a bank transfer will offer, Western Union and Walmart offer fast cash pickups at thousands of locations in New York.
Online options like PayPal and Venmo can also get money quickly to your recipient.
Your bank will typically be your most expensive option when sending money internationally. Banks offer weaker exchange rates, higher fees and fewer options to send and receive cash when compared to other options.
International transfers is where an online money transfer specialist shines. Providers like Wise and OFX can often safely get your money overseas to New York faster, with lower fees and stronger exchange rates.
Calvin needs to send 1,000 Australian dollars from Australia to his wife in Brooklyn.
| Bank | Money transfer service | |
|---|---|---|
| Exchange rate | 1 AUD = 0.721 USD | 1 AUD = 0.746 USD |
| Transfer fee | $22 AUD or more | $5 AUD |
| Transfer speed | 2–4 business days | Up to 2 business days |
| Amount received in USD | $721 | $746 |
For a transfer of 1,000 Australian dollars, an online money transfer service is a clear winner. Not only does Calvin save at least 17 AUD on the transfer fee, but his wife also receives $25 more and at least two days sooner.
Depending on whether you’re sending domestically or internationally, you’ll want to keep an eye on:
Sometimes you or a loved one is in an emergency and needs funds quickly — and in cash. Thankfully there are global money transfer providers with tons of agent locations that allow you to pay and pick up in cash, often within minutes. If you have a little more time, however, consider an independent transfer provider that can get you much lower fees and stronger exchange rates.
Depending on your bank or service, you may need to sign up for a free account before you can begin sending money. Generally, you’ll:
Need to make an emergency cash transfer?
When sending money to New York, you have many options. If you live in a country other than the US, compare your money transfer options to receive the best rates and lowest fees for your situation.
The Federal Reserve is launching its own instant-payment system called FedNow, advertising a staggering delivery speed of seconds.
Using international money orders to send money overseas? Learn about better options.
Transfer agents, mobile wallets and online credit card payments don’t necessarily require a bank account.
Instarem offers no-margin, mid-market rates for some of your money transfers.
Comprehensive guide on receiving money sent via a wire transfer.
Every money transfer service has different requirements for signing up and initiating a transfer. Find out what information is required to send money overseas.
We cover the different wire transfers fees you could pay with 10 of the top US banks when sending money internationally.
Looking for higher transfer limits and lower fees? Explore these WorldRemit alternatives to find a good deal.
Western Union’s extensive global network comes with high fees and weak exchange rates, use these alternatives to look for a better deal.
Compare MoneyGram with competitive alternatives to find the best deal for your transfer.
If I am in New York but my money was sent to Philadelphia, can i still get it from an outlet in NY?
Hi Jennifer,
Thanks for reaching out to finder.
If the money you sent was for cash pick up, usually, the receiver can pick up the money at the agent location within the state you have entered.
You can contact the money transfer company you have used and verify with them if it’s possible or ask them if you can make changes to the transaction so your receiver can pick it up in New York instead.
I hope this helps.
Cheers,
Charisse