BBVA Compass international transfer: Fees, rates and transfer time

Are you a BBVA Compass customer and want to send money overseas? Read on, as we’ve put together a handy guide to making BBVA international wire transfers.

And if you’re interested in alternatives that could save you money on your international payments, check out Wise. You can send money with Wise for low fees¹ and the mid-market exchange rate. It could work out much cheaper than using a bank.

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💡 Disclaimer: BBVA Compass was acquired by PNC Bank in 2021, and customer accounts were transitioned over to PNC. This means that some of the information in this article may now be outdated. For up-to-date fees, terms and other information about sending money with PNC, get in touch with the bank.

Does BBVA Compass allow wire transfers?

You should be able to make both domestic and international wire transfers with BBVA, depending on your account. We’ll run through how to set one up in just a moment.

How much does BBVA Compass charge for wire transfers?

BBVA Compass international transfer fees

Transaction	Regular BBVA transfer fees
Incoming international transfer	Free for Secure Send international money transfer² Up to $15 per transfer for wire transfer³
Outgoing international transfer	Up to $5 per transfer for Secure Send international money transfer² Up to $45 per transfer for wire transfer³
Additional fees may apply	See Additional Fees section below

BBVA Compass exchange rates

When you send or receive money in a different currency, a currency conversion will be necessary at some point along the way.

The bad news is that when you use a bank for an international transfer, it gets to convert the currency at an exchange rate of its own choosing. Typically, banks use a rate that’s 4-6% poorer than the mid-market rate, so that they can make a profit on the conversion.

It’s this margin that you need to factor in, on top of BBVA foreign transaction fees⁴.

BBVA publishes a daily list of exchange rates on its website, even though normally an intermediary or the recipient bank does the conversion. If BBVA is doing the conversion, you can compare its rates to the mid-market rates using an online currency converter to determine if there’s a markup.

Additional fees

Here are some of the additional BBVA wire transfer fees you may encounter when sending money internationally with the bank:

BBVA Compass international transfer	Additional fees³
Sending/recipient bank and/or intermediary bank(s)	SWIFT transfers can include 1-3 intermediary banks that each take their own fee from the amount you’re sending. Check ahead with BBVA to see if they can help you estimate the fees you’ll be liable for.
International transfer confirmation	$3 for fax/email confirmation $5 for mail/phone confirmation

Save money on international transfers with Wise

If you’d rather avoid those high bank fees, there are alternatives available.

Send money worldwide with Wise, and you’ll only pay low, transparent fees¹. Even better, you’ll get the mid-market exchange rate with no mark-up added on top. There are no hidden costs or subscription fees, and setting up an online transfer is secure, quick and easy.

Get started by opening a Wise Account online. This lets you send, spend and convert your money across 50+ currencies, and receive money from abroad using 10 local account details.

How do you make an international bank transfer with BBVA Compass?

BBVA Compass offers a number of ways to transfer money internationally:

• Online
• In person at a branch
• Through ATMs

BBVA Compass doesn’t offer international money transfers by phone.

Online

• Log into your BBVA Compass internet banking account
• Move your mouse over the ‘Payments and Transfers’ tab, and click “International transfers”
• Fill in the required information and follow the on-screen prompts.

At a BBVA Compass branch

• Gather the relevant information for the recipient bank
• Speak to a teller/cashier, and they’ll walk you through the process

At a BBVA Compass ATM

To send an international money transfer from a BBVA Compass ATM, you must first go to a branch to enroll in Secure Send and add your transfer beneficiaries. Then, follow these steps²:

• Insert your ATM or cheque card and enter your PIN
• Select ‘International Money Transfer’ from the main menu
• Enter your customer number and PIN. Both of these will be provided for you at the branch when you enroll in Secure Send
• Select ‘Send International Money Transfer’
• Follow the on-screen prompts.

What is the max wire transfer amount with BBVA Compass?

There are some BBVA wire transfer limits you should know about. You’ll only be able to send a maximum of $3,000 per day or $10,000 per month internationally⁵.

How long does a BBVA transfer take?

BBVA offers Secure Send international transfers to 20 different countries.

Transferring money using Secure Send guarantees the money will be available in the recipient’s bank account no more than 15 minutes after it was sent².

Sending money to countries not available with Secure Send takes longer. It can take up to 5 business days after you’ve initiated BBVA wire transfer instructions⁶.

Contact / Help - More questions around your transfer?

You can contact BBVA Compass’ customer support in a number of ways. Their contact phone numbers and email may vary based on your location, though, so check online for the best way to get in touch with them.

Frequently asked questions

Is BBVA Compass an international bank?

Originally founded in Spain, BBVA operates in multiple countries worldwide - so it can be considered an international bank.

What is the best way to send an international wire transfer?

It’s up to you to decide which method is the best for your needs.

If you’re already a customer at the bank, you could find it convenient - especially if you can use online banking to set up an international payment.

However, you’ll generally find that banks tend to be expensive and slow when it comes to sending money overseas. This is why many people choose to use alternatives such as Wise, which may work out cheaper, more convenient and just as secure.

Learn more about Wise

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Sources:

1. Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information.
2. BBVA Compass - Secure Send
3. BBVA Compass - Clear Choice Free Checking
4. BBVA Compass - Mobile Banking Terms of Use
5. MoneyTransfers - BBVA International Transfers
6. BBVA Compass Help - International Transfers

Sources checked on 16 November 2022