A bank-to-bank international wire sent over the SWIFT messaging network. Your bank sends payment instructions through SWIFT to the recipient's bank, often via one or two correspondent (intermediary) banks when the two banks have no direct relationship. It is the traditional rail for large, time-critical, or exotic-currency transfers — and the oldest, most fee-layered way to move money across borders.

Because your bank and the recipient's bank may not deal with each other directly. The money hops through correspondent banks, each of which can deduct a fee for handling the transfer — reported anywhere from $0 to $60+ per intermediary, and you often cannot see how many will touch your transfer in advance. This unpredictability is the biggest practical difference versus specialist rails, which quote one all-in price.

The gap between the mid-market (interbank) exchange rate and the rate your bank gives you. A 2% spread on $5,000 costs $100 — usually more than the sending, intermediary, and receiving fees combined. Banks rarely advertise it; they quote a rate and the spread hides inside. Always compare your bank's rate against the mid-market rate on the day — the spread is the first thing to negotiate or route around.

How to read it from a quote: if the mid-market rate is 1.1000 and your bank offers 1.0780, the spread is (1.1000 − 1.0780) ÷ 1.1000 = 2.0%. Use the currency-conversion markup comparator on this site to compute it instantly from any two rates — then bring the number back here as the FX spread input.

Reported typicals: $15–45 to send, $10–20 to receive, plus intermediary fees and a 1–3% FX spread. On a $2,500 transfer that is roughly $110 all-in (4.4%); on a $500 transfer the same fixed fees push the effective cost toward 10–14%. Your bank's schedule, the corridor, and the currencies decide the real number — verify every input with your bank.

Large, urgent, or exotic-currency transfers. On $10,000+ the wire's fixed fees dilute to 2–3% and its settlement network reaches currencies specialists don't serve; for time-critical business payments, bank wires clear through established correspondent channels. For anything under ~$5,000 on common corridors (USD→EUR, USD→GBP, USD→PKR), Wise/Remitly typically win on total cost — run both estimates and compare.

Reported 1–5 business days, depending on the corridor, currencies, intermediary chain, and cut-off times. The SWIFT gpi initiative tracks many transfers end-to-end and a large share settle within hours, but exotic corridors and weekends still stretch timelines. If timing matters more than cost, the wire's traceability is its real advantage — ask your bank for the gpi tracking reference.

You choose, via the charge option. OUR: you pay all fees (recipient gets the full amount). SHA: you pay your bank's fees, the recipient pays theirs (most common for freelancers). BEN: all fees deducted from the transfer (recipient gets less). For freelancer payouts, SHA is the default — but note intermediary fees can still be deducted in transit even on OUR, depending on the banks.

Sometimes, not always. If your bank has a direct correspondent relationship with the recipient's bank, there may be zero intermediaries. Some banks offer "guaranteed" wire products that absorb intermediary fees for a higher upfront sending fee. Ask your bank whether the corridor is direct or routed, and what the all-in cost will be — the answer varies by destination.

Fixed fees don't scale down. $25 + $20 + $15 = $60 of fixed fees whether you send $500 or $50,000. On $500 that is 12% before FX; on $50,000 it is 0.12%. The structural fix: batch small payments into fewer, larger transfers, or use a specialist rail whose percentage-based pricing suits small amounts.

The midpoint between buy and sell prices on the global currency market — the "real" rate with no markup. Published live by Google, XE, and Wise; your bank will never offer it to you. The difference between the mid-market rate and the rate in your transfer quote, expressed as a percentage, is the FX spread — the input this calculator asks for.

Generally, yes, as ordinary business expenses — bank charges incurred to receive client payments are deductible business costs in most jurisdictions (confirm with your accountant). Keep the fee breakdowns from your bank statements; the intermediary deductions in particular are easy to forget at tax time. (General information, not tax advice.)

Ask for the wire fee schedule, the correspondent policy, and a sample rate. Specifically: the outgoing international wire fee, whether intermediaries are typical on your corridor, the receiving fee at the other end, and the exchange rate they will apply versus the mid-market rate that day. Get it in writing before the first large transfer — then plug the real figures into this calculator.

One more question worth asking: whether the bank offers a "guaranteed" or "all-in" wire product. Some banks will absorb intermediary fees for a higher upfront sending fee — on corridors with unpredictable correspondent chains, the certainty is worth the premium. Compare the guaranteed quote against the estimator's default stack; whichever is lower wins.