How can I send money from the United States to Norway?

Sending money from the United States to Norway offers a couple of main avenues: using specialized online money transfer services or going through a traditional bank wire transfer. Honestly, for most people, the online services are going to be the better bet for both speed and cost.

When you're looking at online money transfer services, you've got solid options like Xe, OFX, and Wise. These platforms are built specifically for international remittances, so they tend to offer much more competitive USD to NOK exchange rates compared to banks. They also make it easy to deposit directly into Norwegian bank accounts. You can typically pay for these transfers using various methods from the US side, including debit or credit cards, ACH direct debits, or even direct bank transfers. The delivery times are usually pretty fast, often ranging from minutes to about three business days.

For instance, Xe is known for its speed, with many transfers arriving same-day or even instantly, especially if you use a debit or credit card. They'll show you a small fee upfront, and for a $1,000 transfer, you might see something like $0 for certain bank transfers, which is pretty compelling. You can send quite a bit too, up to $535,000 online with Xe. OFX is another good choice, particularly if you're sending larger amounts, as they are known for offering customized, competitive rates and don't typically have hidden fees. Wise, on the other hand, is famous for using the mid-market exchange rate, meaning there's no markup on the rate itself, and their fees are low and transparent, perhaps around $6.93 for a $1,000 transfer via ACH. While Wise usually takes 1-3 business days, it's a very cost-effective option.

The process with these online services is generally straightforward: you enter the amount you want to send, provide your recipient's Norwegian bank details (their IBAN and SWIFT/BIC code, along with their name), choose your payment method, confirm the fee and exchange rate, and then you can track your transfer online or through their app.

Now, if you prefer the traditional route, you can always go for a bank wire transfer through institutions like Bank of America, US Bank, or HSBC. Banks use the SWIFT network for these international wires. The catch here is that bank wires are often more expensive and can take longer. You're typically looking at outgoing fees that can range from $35 to $50, and that's just from your bank. On top of that, there are often intermediary bank fees, which can add another $10 to $50 each, further reducing the amount your recipient gets. Banks also tend to apply a markup on the exchange rate, making the overall cost higher than with a dedicated money transfer service. Processing times for bank wires usually hover around 1-3 business days, though some can be same-day if you hit their cut-off times, like HSBC's 5:45 PM EST. You'll need your recipient's full bank details, including their IBAN and SWIFT/BIC code, regardless of whether you initiate the transfer online or in person.

When making your decision, it's really important to compare the real-time rates and fees directly on the provider's websites, as these can fluctuate. Always aim to provide accurate Norwegian bank details to avoid delays. For very large transfers, especially those exceeding Xe's online limit of $535,000, you'll want to contact the service's support team directly. Also, try to avoid using a credit card if possible, as it can often lead to higher processing fees. The reality is that services like Wise and OFX generally beat traditional banks on the total cost when you factor in both fees and the exchange rate.