What are the differences between US domestic wires and international transfers?

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Transacting USD has never been easier than now in Bitso! You can send and receive USD to and from any bank account.

We offer two different methods for you to do so:

  1. US domestic wires
  2. International transfers

If you have a US-based account, then the US domestic wires are your best option. US domestic wire transfer is one of the fastest and cheapest ways to send money to and receive it from one bank account to another. Traditionally, a domestic wire transfer means sending money from banks inside the same country, but with Bitso, you can send and receive USD to and from a US-based bank account directly in your Bitso account, even if you are not in the US. You can use this method to receive both from your own US account or from another person's. You can learn more about how they work here: How do US domestic wires work?

Now, if you want to send or receive USD from an account that’s not based in the US but in another country, your best option is the international transfer. An international transfer is a way to send and receive USD from everywhere in the world directly in your Bitso Account.

For both US domestic wires and international transfers, the fee for receiving a deposit is always zero, and, for sending, the fee is only 12 USD fixed, meaning it never changes and it doesn’t depend on the amount.

You can learn more about international transfers here: How do international transfers work?

Both methods, US domestic wires, and international transfers allow you to send funds and receive a deposit to and from an account under another name. This means that third-party deposits are completely available. This is helpful in case you want to receive a payment from a business or from someone else without needing to open a banking account in the country where this person or company is based.

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