Chase international wire transfer - all you need to know
Chase offers comprehensive international wire transfer services between your account and beneficiaires around the world. You can make transfers via your Chase online banking service, the Chase app, by calling their customer service center or by visiting a branch. Unfortunately, Chase wire transfer fees are very high and you will get very poor exchange rates, which means it’s always worth using a specialist money transfer provider.
What are Chase’s international wire fees and exchange rates?
Chase charges different amounts for international wire transfers, depending on how you’re transferring money and the currency that you use.
International wire transfers through the Chase.com website
You can make transfers directly through the Chase.com website after logging into your Chase account. The standard fees are:
- Making a Chase international wire transfer in US dollars: $40
- Making a Chase international wire transfer in a different currency: $45
Notes:
- There is a limit of $100,000 a day on international wire transfers made on Chase.com
- You will need a user ID and password to make a transfer
- You can submit wire transfers 24 hours a day, seven days a week, but they will only be processed during normal business hours
- The same-day service cut off time is 4 PM EST
International wire transfers through calling Chase
You can telephone Chase and make transfers over the phone. The standard fees are:
- Making a Chase international wire transfer in US dollars: $50
- Making a Chase international wire transfer in a different currency: $50
Notes:
- You can transfer as much as is in your current available balance
- You will need a user ID and PIN to make a transfer
- You can submit wire transfers between 8:30 AM and 5:00 PM EST
- The same-day service cut off time is 5 PM EST
International wire transfers through visiting a Chase branch
You can visit a branch and make a transfer in person. The standard fees are:
- Making a Chase international wire transfer in US dollars: $50
- Making a Chase international wire transfer in a different currency: $50
Notes:
- You can transfer as much as is in your current available balance
- You will need a Personal Primary ID to make a transfer
- You can submit wire transfers during normal branch hours
- The same-day service cut off time is 4 PM, EST
Repeating, regular international wire transfers are only available for Chase business account customers. You cannot schedule repeating transfers from a Chase personal account. Chase also charges a $15 fee for incoming transfers to your Chase bank account.
Chase international currency exchange rates
Unfortunately, Chase do not list any international currency exchange rates on their website. It’s likely that you need to be an account holder ready to make an international wire transfer to understand what their fees are likely to be. However, various reviews and analyses have shown that exchange rates offered by Chase may be up to five percent worse than the base exchange rate, in addition to their high wire transfer fees.
Here’s what Chase says on their website: “The foreign exchange rates we use are determined by us in our sole discretion. The exchange rate we use will include a spread and may include commissions or other costs that we, our affiliates, or our vendors may charge in providing foreign currency exchange to you. The exchange rate may vary among customers depending on your relationship, products with us or the type of transaction being conducted, the dollar amount, type of currency, and the date and the time of the exchange. You should expect that these rates will be less favorable than rates quoted online or in publications.”
According to a study by TransferWise in 2017, Chase’s markup on exchange rates for a $1,000 to EUR transfer was 2.87% or $28.67. The total cost for a USD 1,000 to EUR transfer with Chase was therefore $45 foreign currency wire fee + $28.7 currency exchange rate margin = $73.7 total fees. That’s 7.4% of the amount wired!
This is why we don’t recommend to wiring money internationally with Chase. If you’re looking for the cheapest way to send money abroad, compare all providers with Monito and find cheaper alternatives.
Find out more with our complete guide on how banks and money transfer operators make money with hidden fees.
How long does a Chase international wire take to arrive at the recipient bank?
When you send money, Chase will tell you how soon the beneficiary should get the funds. Chase estimates that it takes between three and five business days for an international wire transfer to reach the beneficiary.
If you submit an international wire transfer with Chase during their normal business hours and before the cutoff time, they will start processing it that day, otherwise it will wait until the next business day. Before they send a wire it goes through an internal review, and may also be verified by the receiving bank.
If you’re in a hurry, try finding the fastest way to send money abroad by comparing all international money transfer services with Monito.
How to make a Chase international wire transfer
Here’s what you need to do to send money through an international wire transfer with Chase.
Step 1 - You will need a bank account with Chase to make a transfer.
Step 2 - You should gather details from the beneficiary, including:
- Their name and address.
- Their mailing address.
- Their bank routing number (known as a SWIFT code, a BIC or an IBAN)
- Their bank account number.
- Their bank’s mailing address.
- You can also include messages to the beneficiary and the beneficiary’s bank.
If you don’t know the SWIFT, BIC or IBAN for the beneficiary, contact their bank.
Step 3 - You can initiate a transfer through your online banking service, by calling Chase or through visiting a branch.
Step 4 - You fund your transfer from the account balance and Chase processes the exchange.
What is Chase’s SWIFT Code?
If someone needs to send you money from abroad, they’ll need a SWIFT Code for Chase. If you’re receiving an international wire, the Chase SWIFT code is CHASUS33.
Which Chase address should someone use when sending me money from abroad?
SWIFT/BIC Code for Chase Bank: CHASUS33
Bank address, city and state: Chase Bank, 270 Park Avenue, New York, NY 10017, USA
What is Chase’s IBAN?
Chase does not have an IBAN, as the United States does not participate in the International Bank Account Number system. They do not use an IBAN to receive incoming international payments.
