What is the cheapest way to make a monthly international wire transfer overseas?
A typical international wire transfer overseas costs $30 to $45.
Bank of America charges $45 for a wire transfer. This can add up over the course of a year to $540 in fees alone if you need to perform a monthly payment, lets say for child support.
An alternative is to make quarterly payments etc.
But if one had to make a monthly wire transfer from US to Euro, which would be the best way to going about this?
XE or another online foreign exchange broker? Does anyone have any experience doing something similar to this?
- Anonymous9 years agoBest Answer
Pay through child support enforcement and let them handle it.
- Tom KLv 79 years ago
Don't know if this would work for you or not, but have you considered sending a prepaid credit card or prepaid debit card to the recipient and in their name? As long as it has the Visa or Mastercard logo, then they could use it with most merchants or obtain cash at a host of ATM machines. You could reload it whenever you like. While these, too, do have some fees, they seem to be less. And from what I'm reading it sounds like the AAA Cash Passport Card might give you the greatest flexibility with the fewest fees.