Best way to send a large amount of money to a family member online (domestic & international)
Sending a high value payment can be a daunting task. You’ll need to make sure you’re using a reputable provider, which offers low fees and a fast, safe service. If you’re sending a payment to someone based overseas the process can be even more stressful, as you’ll need to check the exchange rates used for currency conversion and the local account information needed to deposit funds to an international account.
This guide walks through how to transfer a large sum of money to a family member domestically and overseas, including some great payment methods to consider such as Wise and OFX.
Key points: How to transfer a large sum of money to a family member
| Providers: | International transfers | Domestic transfers (in the US) |
|---|---|---|
| ACH or wire transfer with your bank | Familiar and reliable service, but can be costly and slow | Variable fees and payment times |
| Wise transfer | Fast payments with mid-market exchange rates | Fixed fees for payments which are quickly deposited |
| OFX transfer | No transfer fee and no limit on the amount you send | 24/7 phone service, plus online and in app payments |
| PayPal transfer | Deposit to other PayPal accounts – fees can be high but transfers may be instant | Some payments to PayPal in the US have no fees |
| Venmo transfer | Not available | Fee up to 3% depending on payment details |
| Zelle transfer | Not available | Usually no fee – check with your bank |
*Details correct at time of research – 27th February 2025
Table of Contents
- Key points: How to transfer a large sum of money to a family member
- Best way to send large amount of money to family member abroa
- How to send large amounts of money overseas to a family member
- Best way to send large amount of money to family member in the US
- How to send large amounts of money to a family member in the US online
- How long does it take to transfer large amounts online?
- How to transfer money to a family member tax free?
- Tips & Key Takeaways
Best way to send large amount of money to family member abroad
You can send payments overseas with your bank, with a large global provider like PayPal, or with a specialist service like Wise or OFX. Specialist services can offer a good balance of low costs and good exchange rates, with a streamlined digital service. Compare a few different options based on your specific payment needs – here’s a quick summary of the popular payment types we’ve selected, with a more detailed look coming up in just a moment.
| Providers | International transfer limits | Transfer fees & exchange rates | Payment methods |
|---|---|---|---|
| Wise | Usually around 1 million GBP or the equivalent per transaction | Fee from 0.57% – mid-market exchange rates. More information on Wise transfer fees calculator | ACH, wire, debit or credit card, SWIFT or Wise balance |
| OFX | No limit | No OFX fee – third party fees may apply | Direct debit or wire |
| PayPal | 10,000 USD to 60,000 USD per transaction | Fee depending on payment method – domestic fee plus international fee of 5%, capped at 4.99 USD + currency conversion fee fo 4% | From a linked bank account or card |
| Bank ACH or wire transfer | Variable limits – usually fairly low limit for online and in app payment, with higher payment options in a branch | Variable fees from about 25 USD to about 45 USD, plus fees which are likely to be added to the exchange rate | Pay from your checking or savings account |
*Details correct at time of research – 27th February 2025
Wise
Wise operates in the US and many other countries globally, supporting international transfers from 50+ currencies which you can arrange online and in the Wise app.
Currency exchange uses the mid-market exchange rate with low transparent transfer fees from 0.57%. If you’re sending a high amount transfer with Wise – more than the equivalent of 20,000 GBP – there’s an automatic discount on the fees you pay, and you can get dedicated support from the Wise large transfers team.
You can also open a Wise account to send and receive international payments in a broad range of currencies. Accounts come with local and SWIFT details so you can be paid by others in global currencies and without needing to convert back to USD if you don’t want to.
| Wise pricing | |
|---|---|
| Wise fees | From 0.57%. More information on Wise transfer fees calculator. |
| Wise exchange rates | Mid-market rates |
| Wise limits | Usually around 1 million USD per payment |
| Is Wise safe? | Yes. Wise has in built safety features and industry level security across all processes |
*Details correct at time of research – 27th February 2025
OFX
OFX offers international transfers in 50+ currencies, which often have no upfront transfer fee if you’re sending from the US. You can arrange your payment online, in the OFX app, or on the phone with a broker service available 24/7. There’s no limit to the amount you can send with OFX. OFX exchange rates are likely to include a small fee.
| OFX pricing | |
|---|---|
| OFX fees | No fee |
| OFX exchange rates | Exchange rate is likely to include a markup |
| OFX limits | No limit |
| Is OFX safe? | Yes. OFX operates through a secure app, and has 24/7 phone support |
*Details correct at time of research – 27th February 2025
PayPal
PayPal is a huge global provider of payment services, and lets you send money to other PayPal accounts around the world. PayPal transfers may be instant, but funds are deposited to PayPal rather than a bank which may not be convenient for the recipient.
There’s often no fee for domestic payments where you pay with a linked bank account, but paying by card comes with a high fee of 2.9%. In addition if you’re sending money overseas there’s a 5% fee capped at 4.99 USD, and a 4% currency conversion cost.
| PayPal pricing | |
|---|---|
| PayPal fees | No fee for a domestic payment funded from a bank, 2.9% card payment fee, 5% international payment fee |
| PayPal exchange rates | 4% currency conversion fee applies |
| PayPal limits | 10,000 USD to 60,000 USD per payment |
| Is PayPal safe? | Yes. PayPal is a huge global provider which is safe to use |
*Details correct at time of research – 27th February 2025
Bank transfer
Sending money overseas with your bank is often pretty easy but the fees may be on the high side. You’ll need to talk to your own bank about the costs which can include a transfer fee, currency conversion charges and third party costs which are deducted as the payment is processed through the SWIFT network. SWIFT transfers on major currency routes are often quick but some bank transfer payments can take up to 5 days.
| Bank transfer pricing | |
|---|---|
| Bank transfer fees | Variable fees from about 25 USD to about 45 USD |
| Bank transfer exchange rates | Exchange rates are likely to include a markup |
| Bank transfer limits | Variable limits set by individual banks |
| Is a bank transfer safe? | Yes. Banks work with the SWIFT network to process secure payments |
*Details correct at time of research – 27th February 2025
How to send large amounts of money overseas to a family member
The exact process you will follow when sending a large payment overseas could vary from provider to provider. However, the basic steps are usually as follows:
- Compare provider’s services and fees: Look at the costs and exchange rates available from several different providers to select the lowest overall price for your specific needs
- Choose the provider to send money abroad: Select your preferred provider and register an account with them using your personal and contact information
- Gather documents and recipient’s details: Get the recipient’s banking information including their account number and their bank’s name, and upload images of the documents needed by your money transfer service provider for verification
- Send money to your provider: Send the funds to the money transfer provider in USD from your bank
- Your money is converted and sent out: The provider will convert the funds to the currency you need for deposit, and then send the payment to your recipient’s bank
Best way to send large amount of money to family member in the US
If you’re planning to send a payment to someone in the US, you’ve got a few different options. We’ll take a look at some popular domestic payment types here, with a more detailed look right after the table.
| Providers | Transfer limits | Transfer fees | Payment methods |
|---|---|---|---|
| Wise | Limit depends on payment method – up to 1 million USD per transaction for most customers | Low fee based on payment method | From a linked bank account or card |
| PayPal | 10,000 USD to 60,000 USD per transaction | Fee depending on payment method | From a linked bank account or card |
| Venmo | Up to 60,000 USD a week with verification checks | Fee up to 3% depending on payment details | From a linked bank account or card |
| Zelle | Variable – check with your bank | Usually no fee – check with your bank | From a linked bank account or card |
| ACH or wire transfer | Variable – check with your bank | Variable – up to about 25 USD for a wire | From your checking or savings account |
*Details correct at time of research – 27th February 2025
Wise
Wise offers domestic transfers in the US with low fees which vary according to the way you choose to pay for your transfer.
Fund your payment from your bank, with a wire transfer or using a debit or credit card for example.
Card payments are usually the fastest option if you need the money to be deposited as quickly as possible.
| Wise pricing | |
|---|---|
| Wise fees | Low fees for domestic transfers |
| Wise exchange rates | Mid-market rates where currency conversion is needed |
| Wise limits | Usually around the equivalent of 1 million USD per payment |
| Is Wise safe? | Yes. Wise has in built safety features and industry level security across all processes |
*Details correct at time of research – 27th February 2025
PayPal
PayPal has a huge global user base and allows customers to send payments to other PayPal accounts conveniently. If you’re sending a payment in the US and there’s no currency conversion needed the transfer is free as long as you pay from an eligible source such as your linked bank or your PayPal balance.
There are fees if you pay with a card, or if you need to make a Visa+ transaction to non-Venmo Visa+-enabled digital wallets.
Fees apply if you choose an instant withdrawal when you withdraw from your PayPal account to a bank.
| PayPal pricing | |
|---|---|
| PayPal fees | No domestic payment fee when funded from a linked bank account
2.9% fee for card payments |
| PayPal exchange rates | 4% currency conversion fee applies |
| PayPal limits | 10,000 USD to 60,000 USD |
| Is PayPal safe? | Yes. PayPal is a huge global provider which is safe to use |
*Details correct at time of research – 27th February 2025
Venmo
Venmo offers USD payments which can be funded from a bank, from your Vemo balance or with a card. There’s no fee to send from your Venmo balance, but there’s a charge of up to 3% if you use your credit card to fund a payment.
This is in addition to any charges your card provider may add. Standard transfers can take a couple of days to arrive – you can choose an instant payment as an alternative, but this comes with a fee of 1.75%.
| Venmo pricing | |
|---|---|
| Venmo fees | Fee up to 3% depending on payment details |
| Venmo exchange rates | Venmo does not operate internationally |
| Venmo limits | Up to 60,000 USD a week with verification checks |
| Is Venmo safe? | Yes. Venmo is a safe provider to use which has strong security measures in place |
*Details correct at time of research – 27th February 2025
Zelle
Zelle offers USD money transfers for customers, either through its standalone app, or in partnership with banks. You may find your bank offers Zelle payments which are set up online or in your mobile banking service. Generally there’s no fee for a Zelle payment, but as banks set their own fees and limits you’ll need to double check all of the rules which apply to your specific account.
| Zelle pricing | |
|---|---|
| Zelle fees | Check with your bank |
| Zelle exchange rates | Zelle is not available internationally |
| Zelle limits | Check with your bank |
| Is Zelle safe? | Yes. Zelle is safe to use and often offered by US banks for domestic payments |
*Details correct at time of research – 27th February 2025
ACH or wire transfer
Your own bank can also help you to send a large payment to a family member in the US.
You can choose an ACH payment which is generally pretty cheap but may not be the quickest options available, or a wire which can have a higher cost but may also be processed faster. Banks set their own fees and limits for ACH and wire transfer payments, which may include cheaper digital transfers and higher costs for in branch services.
| Bank transfer pricing | |
|---|---|
| Bank transfer fees | Variable – up to about 25 USD for a wire |
| Bank transfer exchange rates | Exchange rates are likely to include a markup |
| Bank transfer limits | Variable – often lower limits apply online compared to in branch services |
| Is a bank transfer safe? | Yes. Digital bank transfers and wires are extremely safe to use |
*Details correct at time of research – 27th February 2025
How to send large amounts of money to a family member in the US online
The process of sending a payment to someone in the US is pretty simple, with no need for currency conversion. You’ll need to compare a few different services to be sure you’re getting the very best one for your needs – here’s the process you’ll usually follow:
- Compare provider’s services and fees: Look at the costs and the speed of services available from several different providers
- Choose the provider to send your money: Select your preferred provider and register an account with them using your personal and contact information
- Gather documents and recipient’s details: Get the recipient’s banking information including their account number and their bank’s name, and upload images of the documents needed by your money transfer service provider for verification
- Send money to your provider: Send the funds to the money transfer provider in USD from your bank or with a card
- Your money is sent out: The provider will send the payment to your recipient’s bank or provider account
Information needed to send large amounts of money
To send a high value payment to someone you will need to have the following information in most cases:
- The recipient’s full name as shown on their bank account
- The recipient’s bank name and account number
- The recipient’s bank SWIFT code for overseas payments
- Documents showing the source of the funds
What documents are needed can vary depending on the value of the payment you’re sending as well as the provider you use. Generally you’ll need to be able to prove that the money came from a legitimate source. If you’re sending money from your salary you may need to provide pay checks for example, or if you’re sending a high value payment after selling a property you may need sale details.
How long does it take to transfer large amounts online?
The amount of time it takes for a large transfer to be processed can vary a lot depending on the details of the payment. Generally sending a bank transfer overseas can take longer compared to a domestic wire, but payment delivery times are influenced by many factors including how you pay and the provider you’ve picked. Here are some average delivery times for the providers and methods we’ve selected in this guide:
Domestic:
- Wise – payments from Wise Account balances are instant, other payment methods have variable delivery times.
- PayPal – payments from your PayPal balance are fast or instant, other transfers have variable delivery times
- Venmo – 1 – 3 days for a standard transfer, instant payments are available for a fee
- Zelle – variable delivery times based on the payment method selected
- ACH/bank transfer – ACH payments may take 1 – 3 days, wire transfers can be faster
International:
- Wise – payments can be fast or instant
- PayPal – payments from your PayPal balance are fast or instant, other transfers have variable delivery times
- OFX – usually 1-2 days
- Bank transfer – bank wires can take 1 – 5 days
How to transfer money to a family member tax free?
Whether or not any tax applies to your payment will depend on many factors including the reason for the transfer. You’ll need to get professional advice from a tax accountant to understand if you have any tax duties either in the US or in the country you’re sending money to.
Important note – This guide is for information only – seek professional advice if you need support about taxes in the US or abroad.
Tips for sending large amounts of money online
Here are a few final thoughts to help make sure your payment goes through smoothly:
- Choose regulated providers: look for services which have full regulation in the US and in the country you’re sending money to
- Pay attention to the exchange rates: banks and money transfer services may add fees into the exchange rate used for overseas payments which add to the costs
- Opt for providers with low fees and fast transfers: compare several providers to make sure you get a good balance of cost and convenience for your payment
- Pay attention to hidden costs: third party costs can creep in so ask your provider or bank if there are any additional fees to be aware of
- Beware of fraud: only send money to people you know and trust, and be wary of scams and fraud
Key takeaways: Sending large amounts to family online
Sending a high value payment either within the US or internationally can be done conveniently with a specialist provider. Specialist services exist to help facilitate digital payments which can be pretty cheap and easy to use, even when sending payments overseas.
If you’re making an international payment to a loved one consider a provider like Wise or OFX. Or if you’re making a transfer within the US see if Venmo or Zelle may be an appropriate option, based on the way you want to pay. Some providers – like Wise – offer both domestic and international payment options to help you get organised with less hassle.
