International wire transfers with SoFi: 2024 guide

Gabriela Peratello

SoFi®¹ offers a selection of financial products and services, including loans for all purposes, investments, credit cards, and insurance.

You can also open a SoFi checking or saving account. If you have an account already, you may be wondering if you can make a SoFi international wire transfer from your SoFi Cash Management account, or from your SoFi checking or saving account.

This guide covers all you need to know. Plus, we’ll introduce an expert in global money movement - Wise. Wise is a non-bank alternative provider which offers low international transfer fees with the mid-market exchange rate². More on that later.


Can you make an international transfer with SoFi?

At the time of writing you cannot make an international wire or an international ACH transfer with SoFi³.

SoFi does offer wire transfers from a SoFi Cash Management account4, or from a SoFi checking or savings account5. However, only domestic wires are supported. Wires are offered by exception only, and only for the purpose of making a home purchase.

If you want to move money from a SoFi account to send a payment abroad, you’d probably need to withdraw your balance to a linked bank account in your name, and use that to pay for your international transfer via a third party provider. We’ll touch on one you might consider using - Wise - a little later.

Does SoFi work internationally?

As we’ve already seen, you can’t send a payment overseas with SoFi. However, if you have a SoFi debit card you’ll be able to use it when you’re overseas to make a payment or to make a cash withdrawal.

When you use your debit card overseas there’s no SoFi foreign transaction fee6 and your purchase is converted back to USD using the Mastercard® exchange rate. MasterCard® may add a 0.2% fee for overseas purchases which won’t be reimbursed by SoFi7.

SoFi international wire transfers: step by step

SoFi does not offer international wire transfers. However, you can make a domestic wire from a SoFi Cash Management, saving or checking account by exception.

In this case you’ll need to log into your account securely online or in the SoFi app and request a wire. Here’s what to do:

1. Ensure you meet the criteria to have your wire approved (more on that below)

2. Log into your SoFi account securely

3. Follow the prompts to request a wire

4. SoFi security will contact you and the recipient to confirm and verify your payment

5. Once approved your payment will be processed - processing will start on the same day for payments initiated before 3:30 PM ET

SoFi wires are offered for home purchase/settlement only. It’s useful to know that the beneficiary of any approved wire from a SoFi account can’t be a person.

That means you can’t send money to an individual, but you can use your SoFi account to send money to a company for the purpose of buying a home.

If you want to send a SoFi international transfer via a third party provider you can do that instead. Your options may depend on the provider you pick, but you could pay for your transfer with your SoFi card, or withdraw your SoFi funds to another account and pay from there as an alternative.

Third party international money transfer services are easy to use, and often have low costs, too.

To give an idea, let’s look at how to send a payment with Wise:
  1. Open the Wise desktop site or app

  2. Register an account with your email address, Facebook®, Apple® or Google® ID

  3. Get verified by uploading an image of your ID and address document*

  4. Set up your transfer online or in app, by entering the amount you want to send, or the amount and currency to be received

  5. Check the payment options and fees and select how you want to pay

  6. Follow the prompts to add your recipient’s information

  7. Check, fund the payment, and your money is on the way

*Wise may request additional documents to verify a customer's identity

Make low cost international transfers with Wise

Another smart option if you’re sending money overseas. Meet Wise.

Register a Wise account online or in the Wise app, and send digital payments from your bank account to 70+ countries, with the mid-market exchange rate and low, transparent fees.

Wise always shows you the amount you’re paying and how much your recipient will get — and you can even compare against other providers on the Wise app or desktop site. If another service is cheaper for your particular payment, you’ll be shown — so you can’t lose.

Send money abroad with Wise

See how Wise compares with international bank transfers in our full guide

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Common questions about SoFi international wire transfers

Looking for more? Here are a few other final thoughts on SoFi international wire transfers.

Are there any limits to how much money you can send internationally through SoFi?

You can’t send an international payment by wire or ACH with SoFi. If you’re sending a domestic wire you’ll need to apply for your transfer by exception, and the SoFi team will be in touch to ensure it is eligible and within the transfer limits.

What are the fees for SoFi international wire transfers?

SoFi does not offer international wire transfers. SoFi domestic wire fees will be disclosed when you set up your eligible payment.

How long do international wire transfers take with SoFi?

As we’ve seen you can’t send an international wire with SoFi. If you’re sending an approved domestic wire, processing of your payment can start on the same day if you submit your information and complete verification before 3:30 PM ET.

Can SoFi handle multiple currencies?

SoFi checking, saving and Cash Management accounts are designed to transact in US dollars only. However, you can use your SoFi debit card internationally to make payments and withdrawals anywhere the Mastercard network is supported. Your purchase value is converted back to USD using the Mastercard exchange rate, and may incur a 0.2% Mastercard fee.

Is it safe to wire money internationally with SoFi?

While you can’t send an international wire with SoFi you can send domestic wires for home purchases.

If you choose to do this, both you as the sender, and your recipient will be personally contacted by a member of the SoFi transfer security team to make sure everything is in order before the payment completes.

SoFi offers an impressive range of services for US residents, from insurance and investments to checking accounts and loans. However, you can’t usually send money internationally with SoFi.

For that you’ll need another solution - like Wise. Use Wise to send money to 70+ countries, using the mid-market rate and low fees you can check easily online or in-app.


  1. SoFi
  2. Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
  3. SoFi help - Can I make an international transfer with SoFi checking and savings?
  4. SoFi help - Can I make wire transfers from my SoFi Cash Management account?
  5. SoFi help - Can I make wire transfers with SoFi checking and savings?
  6. SoFi bank fees
  7. SoFi bank terms

Sources checked on 11.14.2023

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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