I use CurrencyFair to exchange currency between EUR and USD. I was surprised to see a $10 wire transfer fee at the end of the chain when CurrencyFair transfered from their BofA account to my BofA account.

Is there any bank in the US that does not charge for incoming wire transfers (not ACH, wire transfer) ?


4 Answers 4


There are banks and credit unions that don't charge fee for incoming wire transfer. You most likely won't get that from big brick and mortar banks like BofA, Citi but if you are doing it regularly, using another bank that offers it free would save you a lot. Since ACH are free, you can transfer money between those banks to your regular bank (e.g. BofA) for free. There would be delay involved in this process due to additional ACH. You could also use one these banks as your primary bank to avoid that delay.

Credit unions are also generally fee friendly and many would offer free incoming wire transfer. However you are limited to what is available to you as all of them would have some membership criteria.

  • You can probably find a credit union that accepts all residents your state of residence.
    – stannius
    Commented Feb 26, 2013 at 20:45
  • 2
    This is often not the case for international transfers, in which case a local CU would need to interface with an international network that may assess a fee
    – JAGAnalyst
    Commented Feb 27, 2013 at 18:48
  • this is very sadly wrong. every small credit union charges the usual $25 fee to receive a wire transfer from overseas.
    – Fattie
    Commented Jun 29, 2016 at 13:59
  • Check the credit union you are using but DCU doesn't charge for incoming wire transfer. DCU Schedule of Fees, NASA Schedule of Fees
    – amit_g
    Commented Jun 29, 2016 at 16:40
  • Many smaller banks and credit unions may not charge a fee, but since they're small, they have to rely on intermediate or correspondent banks to help them process the transfer, and those banks will charge a $15 to $25 fee.
    – jmort253
    Commented Jul 1, 2016 at 6:37

Schwab High Yield Investor Checking does not charge for incoming wires.

  • schwab.com/public/file/P-6425867/SLS77378-01.pdf according to their site, Schwab does not accept incoming international wires or funds in other currencies.
    – jmort253
    Commented Jul 1, 2016 at 6:37
  • @jmort253 if you want to receive other currency, you can activate Schwab Global account, for free. I have done it and I can confirm that. Commented Sep 11, 2018 at 22:49

Being into Business since years and having clients worldwide I receive a lot of payments via wire transfers. Some in business and some in personal checking accounts. I have never been charged by my bank for any incoming wire. And by the way I bank with HSBC and BoA in the US.

Actually the charges on the account depends on the type of account you are opening/holding with the bank. With a tight competition in the finance and banking industry you can always demand the bank for the services you want and the pricing you want. The best thing to do is ask your bank if they can wave those incoming wire charges for you and if not you have a whole bunch of options.


Yes, a business account at Chase bank offers free incoming wire transfer fees when you keep a minimum balance of over 100k. It's the only one I have found.

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