Navy Federal International Wire Transfer: Fees, Rates and Transfer Time 2024

Navy Federal was founded in 1933 to meet the needs of members of the military, veterans, DoD employees and their families. These days, Navy Federal is one of the biggest credit unions in the US, and offers a broad range of services to individuals and business owners.

You can make international payments with Navy Federal Credit Union (NFCU) – but it may not be the fastest or cheapest way to get your money where it needs to go.

This full review covers everything you need to know about Navy Federal international transfers, and also introduces some alternatives, such as Wise or Remitly to consider which may be less expensive and more convenient to use.

Navy Federal international money transfer comparison

Before getting started, we can show a comparison of how much it costs to send with Navy Federal and how long it takes compared to specialist providers. In this case, let’s imagine we need to send 1,000 USD to a friend in Canada, to be received in CAD.

Key points: Transferring money overseas with Navy Federal (NFCU)

• Transfer fees: 25 USD + exchange rate markup + potential third party fees
• Speed of transfer: 5 – 7 business days
• Transfer maximum: May depend on account type and destination country – payments over 5,000 USD in value must be confirmed in writing
• Safety: Covered by National Credit Union Administration (NCUA), deposits are insured to 250,000 USD/depositor
• Eligibility: International transfers are available to both personal and business customers.

Does Navy Federal do international wire transfers?

Navy Federal offers international wire transfer services, allowing members to send and receive funds overseas. 

Sending international wires: Navy Federal members can send funds either in foreign currency or US dollars. There’s a 25 USD fee per transfer and a processing time of 5-7 business days. 

Receiving international wires: Navy Federal customers can also receive international wire transfers into their checking and savings accounts, but only in US dollars. There’s no fee to receive an international wire, although the sender’s bank or specialist service may charge a fee, and the wire is processed on the same day if it’s received before 7.30 PM EST.

Navy Federal international wire transfer fees

When you set up an international wire payment you’ll often find you’re paying more than one fee for the service – even if you don’t know about it. Navy Federal international wire transfer fees can include:

• Transfer fee – this is often the easiest to spot and with some providers can be low, or even free
• Exchange rate markup – this can be the highest fee, but it’s often hard to see
• Third party fees – Navy Federal notes that the recipient’s bank may also deduct fees when the payment arrives

Here are the Navy Federal international wire fees you’ll want to know about:

The Navy Federal international wire transfer fee is $25, whether you set up your payment in a branch, over the phone, by mail or by sending a secure message through your online banking service. On top of that, you’ll pay a variable exchange rate markup, and the recipient’s bank – or other intermediaries – may also deduct fees.

Need a cheaper alternative?

Using a bank or credit union to process an international wire might not be the cheapest – or most convenient – option available.

While Navy Federal facilitates international wire transfers, alternative providers like Wise, Remitly, OFX, and WorldRemit that specialize in international transfers could offer more cost-effective and faster services. 

Here are a few alternatives you may want to compare to NFCU before you get started:

Wise: Uses the mid-market exchange rate without hidden markups. Conversion fees vary by currency and start from 0.29%, and 50%+ of payments are instant with 90% arriving in 24 hours.

TorFX: No upfront transfer fee – exchange rate markups may apply, but you could find the markup applied is lower than that used by banks

Remitly: Fees vary depending on the amount you’re sending, the payment method, and delivery option. Choose between Express and Economy transfers – Express transfers are more expensive but can arrive in minutes, while Economy transfers are cheaper but can take 3-5 business days. The exchange rate also includes a markup.

OFX: Provides fee-free transfers and no maximum limit, making it a good option for high-value transactions. However, the exchange rate might include a markup.

WorldRemit: Fees depend on the destination and the exchange rate includes a markup. New customers don’t get charged any fees on their first transfer. Transfers typically take 1–2 working days, and you can choose from various payout methods like bank deposits or cash pickups.

Navy Federal Credit Union exchange rates

Navy Federal works with a dedicated correspondent bank – usually Wells Fargo – to arrange international payments. The correspondent bank will set the exchange rate used, which won’t be the same as the rate you might see on Google or in a currency converter.

The rate you might get from a Google search is known as the mid-market exchange rate. This is the rate banks get when they buy currency themselves. However the mid-market rate is seldom passed on to customers. Instead banks and other currency services typically add a markup – an extra fee – onto the mid-market rate to calculate the rate they offer their customers.

Markups do vary depending on the specific currency you’re sending – but can be around 3% which is added into the exchange rate used to convert your funds. Here’s how much a 3% charge would add to your overall costs across a few different payment values:

• Sending 1,000 USD – the exchange rate markup adds 30 USD to the total
• Sending 5,000 USD – the exchange rate markup adds 150 USD to the total
• Sending 50,000 USD – the exchange rate markup adds 1,500 USD to the total

As you can see, small percentage increases can really mount up quickly. Here’s a reminder of the overall costs of the providers we compared earlier:

• Navy Federal fees: 25 USD + exchange rate markup + other costs/commissions
• Wise fees: 10.15 USD with mid-market exchange rate (with no exchange rate markup)
• WorldRemit fees: 2.99 USD + exchange rate markup
• OFX fees: 0 USD + exchange rate markup
• Remitly fees: No transfer fee + exchange rate markup

Navy Federal additional fees

When you complete an international payment request form for Navy Federal, you’ll see a note advising you that the recipient bank may impose their own fees. These will be deducted from the transfer before it is deposited in the recipient’s account.

Charges from third parties – like intermediary banks, or the recipient’s own bank – usually appear when transfers are processed using the SWIFT network. The SWIFT payment system is used by most banks and credit unions to arrange international transfers. It’s reliable and safe, but can also be expensive and slow, because each transfer involves up to 3 separate banks working in partnership to move the money. These intermediary banks – also known as correspondents – can deduct processing fees for the part they play in setting up the payment.

Navy Federal (NFCU) is not a member of the SWIFT network itself, but instead works through a partnership with Wells Fargo to access the SWIFT payment system.

To cut out these extra SWIFT payments, alternative services like Wise and WorldRemit have built their own payment networks, which can help customers avoid these additional fees.

How long does an international money transfer with Navy Federal take?

International wire transfers with Navy Federal take 5 to 7 business days to arrive. The exact delivery time will depend on where you’re sending money to, and the processes in place at the recipient’s own bank.

Here’s a reminder of how the Navy Federal wire transfer time compares with the other providers we profiled earlier:

• Navy Federal: 5 – 7 days
• Wise: 50%+ of transfers are instant, 90%+ of payments arrive in 24 hours
• WorldRemit: 1 – 2 days
• OFX: 1 – 2 days
• Remitly: Express transfers can arrive in minutes while Economy can take 3-5 days

Can the transfers be sped up?

Navy Federal doesn’t have an express payment service which can get your money moving faster.

If you need faster alternatives, consider checking money transfer specialists like WorldRemit and Wise. More on these services coming up in the next section.

Does Navy Federal offer same day wire transfer?

Navy Federal international transfers are delivered in 5-7 business days. If you need a faster transfer, you can contact Navy Federal directly by calling 1-888-842-6328 or by sending a secure message to discuss your options.

Information regarding faster transfers currently isn’t available on the Navy Federal website at the time of writing.

Need a faster alternative?

Specialist international payment services can often provide a faster service compared to banks and credit unions. Let’s take a look at a few alternative options.

• Wise: payments can be instant – most arrive in 24 hours or less
• TorFX:  same day for major currencies, 2 working days for exotic currencies
• OFX: 1 – 2 days
• Remitly: Express payments can be deposited in minutes, Economy payments take 3 – 5 days
• WorldRemit: 1 – 2 days
• Western Union (for cash collection): Usually instant

How to make an international transfer with Navy Federal (NFCU)

You can initiate an international transfer with Navy Federal in any of the following ways:

• Complete the request form, send through online banking, and await a call back to confirm the transfer
• Visit your local Navy Federal branch – check the branch offers international transfer services first
• Call on 1-888-842-6328
• Mail the completed request form to Navy Federal

If you’re sending a payment of over 5,000 USD you must confirm it in writing by sending your request form by secure message or mail – or you can visit a branch to set up your transfer instead.

The international payment request form is available on the Navy Federal website or online banking service, and can be downloaded or printed and completed in hard copy.

Here’s a quick step by step guide to complete the international payment request from and get your money moving:

1. Download the international payment request from on the Navy Federal website or online banking service
2. Enter your own information, including your account number
3. Confirm the payment value and currency
4. Add the recipient’s bank information, including the bank’s name, address and intermediary bank
5. Enter the recipient’s personal details, including name, address, and bank account information
6. Submit your form online, by mail, or in person at a branch

What information do you need to make an international wire transfer with Navy Federal?

To complete the international transfer request form you’ll need the following information:

• Your name, address and account number
• Your recipient’s name and address
• Your recipient’s account type, account number, and IBAN/CLABE
• Your recipient’s bank’s name, address, and SWIFT/BIC code
• Correspondent or intermediary bank routing information if applicable
• Transfer amount and currency
• Whether the payment is to an account in your own name, or to a third party

Navy Federal may be obliged to check your identity for some types of transfer – in this case you’ll be asked to provide ID documents like a driving license, and your payment may be delayed pending verification.

Pros and cons of transferring money abroad with Navy Federal

Navy Federal international business transfers

Navy Federal has several different business checking accounts, as well as savings accounts, credit cards and loans. The key business checking accounts on offer are:

• Business Checking
• Business Plus Checking
• Business Premium Checking

These accounts are aimed at different business stages. The basic business checking account is perfect for new businesses, with no monthly fee to pay. The Business Plus Checking account is aimed at growing businesses with steady banking activity. You’ll pay a monthly fee of 8 USD, but can add unlimited signers to the account.

Finally, the Business Premium Checking account is for mature businesses, with a monthly fee of 20 USD you can avoid by hitting a minimum daily balance of 5,000 USD.

Navy Federal business transfer fees

The final fee you pay to send or receive money through your Navy Federal business account may vary based on the account type, payment and destination country. Exchange rate markups and third party charges may also apply. Here’s a rundown of the key Navy Federal international business transfer fees you should know about:

Specialist providers like Wise and OFX, also provide business accounts and transfers, which can help you manage your money more flexibly – with no need to visit a branch to transact:

Wise Business: Hold money in 40+ currencies, get paid with local account details for 8+ currencies, and send payments to 160+ countries with the mid-market rate and low, transparent fees from 0.29%

OFX for Business: Get a multi-currency account to hold a balance and get paid from abroad, send one off and recurring payments, and access currency risk management products and services

TorFX Business: Make online and phone business transfers, 24/7 with low overall costs and competitive exchange rates

Navy Federal international wire transfer limits

The amount of money you can send through Navy Federal may depend on the type of account you have and the destination country.

Any payment over 5,000 USD in value must be submitted in writing – and Navy Federal may need to see proof of identity to process the payment.

Customers can also make cash transfers to individuals via Western Union agents in over 190 countries with a maximum limit of 10,000 USD. 

How to send a large amount transfer with Navy Federal

The limit for the Navy Federal cash service is $10,000 per transaction, with the funds available for collection at a Western Union agent near your recipient. 

If you’re sending a high-value Navy Federal wire overseas, there may be no upper limit to the amount you can transfer and may depend on the type of account you hold and the destination country. However, any payment over $5,000 must be submitted in writing, either through a secure message or by visiting a branch, in person. Navy Federal may also require proof of identity to process the payment.

Complete the wire transfer form: Fill out the international wire transfer form, providing information that includes your name, account details, payee information, transfer amount and purpose, and the receiving bank’s details, including the SWIFT/BIC code.

Submit your request: Transfers over $5,000 require the form to be submitted in writing through Navy Federal’s secure message platform, by visiting a branch, or by mail.

Verification: Navy Federal may request proof of identity or additional documents.

Need to send a larger transfer?

If you need to send a larger transfer than what Navy Federal’s maximum limit allows, there are specialist providers with significantly high limits or no limits at all. These services also provide secure and efficient ways to transfer substantial amounts of money, often with competitive exchange rates and fast delivery times.

• Wise Up to $1,000,000 per local ACH transfer, $6,000,000 per local wire transfer, or $1,600,000 per international SWIFT transfer.
• Remitly: $25,000 for most transfers from the US, or $30,000 when sending to India. Limits can increase to $30,000 with additional identity verification.
• OFX: No maximum transfer limits enforced. However, bank-imposed daily transfer limits may apply.

WorldRemit: $5,000 per transaction and $9,000 per 24 hours when paying via debit, credit, or prepaid card.

Navy Federal supported countries for international wires

Transfers can be made to a broad range of countries around the world, with the exception of a handful of sanctioned countries where payments are not permitted, including Cuba, Iran, Libya, North Korea, Russia, Sudan, Syria, Yemen or the Crimean, Donetsk and Luhansk regions of Ukraine.

It should also be noted that Navy Federal only receives US currency and additional information may be required, depending on the country receiving the transfer.

Navy Federal contact information

The Navy Federal credit union address for wires – if you want to process your payment by mail – is as follows:

• Navy Federal Credit Union, Attn: Funds Disbursement Section, 820 Follin Lane SE, Vienna, VA 22180

Struggling to get your transfer set up, or have other questions to ask? Here’s how you can get in touch with Navy Federal if you need help with your international transfer:

Conclusion: Is Navy Federal good for international wire transfers?

Sending an international transfer with Navy Federal is a familiar and secure way to make your payment. You’ll also be able to get face to face service in a branch if you want to. However, it’s worth being aware of the delivery times which can be up to 7 business days. The fees are on the high side too, at 25 USD plus an exchange rate markup.

If you’d prefer to send a transfer online, using a specialist service like Wise or WorldRemit may be cheaper and more convenient as you’ll be able to set up the entire transfer on your laptop or mobile device.

Choosing the right provider for your international transfer comes down to your personal preferences and the specifics of the payment you need to make. Compare a few options before you get started to make sure you get the best available deal for your specific needs

FAQs Navy Federal Credit Union international wire transfers

How much does an international transfer cost with NFCU?

You’ll pay a 25 USD transfer fee to send an international wire with Navy Federal. There’s also an exchange rate margin, which is a fee added into the rate used to convert your payment.

How long does an international transfer take with NFCU?

A Navy Federal international transfer will take 5 – 7 business days to arrive in your recipient’s account.

How do I transfer money from Navy Federal into someone else’s account?

Set up your transfer by sending a secure message and awaiting a call back from Navy Federal, by phone, in a branch, by mail or using a fax.

Can I do a wire transfer online with Navy Federal?

You can start your wire transfer online, by downloading the international transfer request form and sending it in using a secure message from your online banking service. However, you’ll need to talk to an agent to complete the transfer.

Does Navy Federal do currency exchange?

You can send a foreign currency international money transfer with Navy Federal. Your USD funds will be converted to the currency you need, through Navy Federal’s banking partners – usually Wells Fargo.