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I have a 100k USD in my US account that I want to move to my a Dutch account.

My American bank only allows wire transfers if I am there in person (I live in Europe), so that’s impossible. Consequently, they recommended an app called TransferWise which would charge around 400 USD to do that. They also recommended I just write myself a check, but Dutch banks don’t accept US checks.

I’m no pro. What’s the best way to do this?

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    If you're converting also, make sure to compare fees + exchange rates. Some services may have lower fees but worse conversion rates.
    – TTT
    Commented Jun 14, 2022 at 15:48
  • Thanks! Great point. Is there no standard tool to for cash xfers?
    – Max
    Commented Jun 14, 2022 at 16:43
  • No. There are dozens of options to chose from, all with their own hooks and fees and tricks. For 100k, the fee is your smaller problem, exchange rates are more critical, as many mechanisms end with you getting a poor exchange rate. A 1.5% higher exchange rate hurts you more than a 400$ fee. But you should be able to get that done for ~40$
    – Aganju
    Commented Jun 15, 2022 at 1:18

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TransferWise, now know as simply as Wise, is nearly always a good option and the one I use and recommend. They also have other useful cross-currency services, e.g. I have a virtual US bank account number through them that I get paid into when working for a company in the US and can transfer USD->Euro at minimal cost when doing so, and they offer a card that can be used to take out money in any currency. This may, or may not, be useful to you.

There are other alternative services that offer similar services which you can find by googling and if you wish to you can go through these services comparing the amount you'll get transferred in the end and pick the best. But be sure to look at the amount credited in Euros at the end, you want the best combination of exchange rate and service fee not simply the lowest fee. Some sites will try to lure you in with claims of low (or no) fee but actually offer much worse rates resulting in worse overall outcome.

If you know someone who already uses Wise then can give you a referral code which gets you a discount on your first transfer as well (I could also do this, but I find it inappropriate for a StackExchange answer).

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