Huntington Bank International Wire Transfer

huntington bank international wire transfer

If you need to send money internationally, your bank may be able to help. But it’s crucial to be sure you know the correct procedures to follow before you arrange your transfer. The information you need to avoid high costs, protracted wait times, and other useful advice before using Huntington Bank International Wire Transfer to send money abroad is provided below.

Your transfer cost, however, is not solely composed of fees. Also, keep in mind that there will probably be a markup on the currency rate when you transfer money internationally; this often ranges between 4 and 6%. Additionally, 1-3 intermediary and recipient banks may be involved, and they may also impose costs. The cost of this is rising. Find out how much your overseas transfer is really costing you by comparing the exchange rate offered by your bank to the mid-market rate using an online currency converter.

Provider FeeExchange RateTotal Cost
Huntington Bank (USA)$75 (INR 6,156)Exchange Rate + Markup$75 + exchange rate markup + likely fees from the recipient and intermediary bank

Also Read: Fifth Third Bank International Wire Transfer

What are the Costs Associated with Sending Money Abroad through the US-based Huntington Bank?

Depending on the terms and conditions of your transfer, different fees can apply. For more information about your specific account and the nation to which your money is being sent, contact Huntington Bank. The table below shows the general Huntington Bank’s foreign wire fees.

Huntington Bank International Wire Transfer Fees

Huntington Bank TransferFee
Outgoing international wire$75 (INR 6,156)
Incoming international wire$15 (INR 1,231)

Conversion Rates for Huntington Bank

It can be challenging to send or receive money in a different currency. The SWIFT transfer system is commonly used for international transactions, which means that your money will pass through several intermediate banks before reaching. You will pay more the more banks your money passes through. In addition to collecting their costs from the transfer amount, they could exchange currencies instead of your bank. The exchange rates that banks choose to offer are often marked up by 4-6% in comparison to the mid-market rate.

Huntington Bank doesn’t publish its exchange rates online, so even if you directly ask them to convert the currency, you might not be able to find out what rate they’ll use. If you phone a bank, you might be able to acquire a price but keep in mind that the rate they provide you might not be the rate they ultimately use to convert your money.

Must Read: Union Bank Philippines International Wire Transfer

Charges from Huntington Bank in Addition

Many banks use the SWIFT system for international wire transfers, which can route your transfer through an average of 1-3 intermediary banks. Each of the banks has the right to impose fees. As a result, when configuring an international transfer, the ‘charges’ box will present you with the following choices:

You decide whether to pay for all sending and middleman bank fees. Your bank account will be charged an extra fee to cover these expenses. Remember that the recipient bank may still take a fee out of the money you receive.

The person who will receive your donation will pay the intermediary bank fees. You will still be responsible for paying Huntington Bank’s shipping fee. Upon receiving the transfer, the destination bank may also take a fee.

Huntington National Bank Transfer Fees

Below mentioned is Huntington Bank International Wire Transfer Fees:

CategoryTransfer Fees
Incoming domestic wire transfers$15 USD (INR 1,231)
Outgoing foreign wire transfers$75 USD (INR 6,155)
Transfers to and from Huntington bank accounts $10 USD (INR 820)
Outgoing domestic wire transfers$25 USD (INR 2,051)
Incoming foreign wire transfers$15 USD (INR 1,231)

Additional Costs

Additional costs for Huntington Bank International Wire Transfer are as follows:

To stop payment once submitted$31 (INR 2,544)
For each transfer i.e. returned to the bank$10 (INR 820)

How does Huntington Bank International Wire Transfer work?

Depending on the kind of account, Huntington International wire transfer can be done in various ways, including: Only for commercial accounts, online, or by phone.

Directly at a nearby branch

By connecting to their online account with their personal ID and password and using the International Wire Transfer option, owners of online Business accounts can instantly move money around the globe.

Personally at a nearby branch

Unfortunately, you can only send money overseas through your neighborhood Huntington Bank location if you have a personal account. So, you’ll need to stop by your bank. Once they have confirmed your information, a bank teller can start your transfer.

Via phone

Business account users can send money overseas over the phone similarly to the internet capability by using their previously created ID and password and following the prompts.

What is required for HUNTINGTON BANK INTERNATIONAL WIRE TRANSFER?

You will require the following in order to transfer money internationally with Huntington Bank:

  • Name of you and bank
  • Your customer number
  • Name of your receiver as it appears on their bank account
  • Beneficiary bank name
  • For overseas payments, the type and number of the recipient’s account
  • SWIFT code for the recipient bank (verify the BIC/SWIFT code online)
  • Your desired transfer’s size and currency

Pros and Cons 

Below mentioned are the pros and cons of Huntington Bank International Wire Transfer:

Pros Cons
It gives access to multiple options for domestic transfers.To send money internationally, it charges $75 (INR 6,155) per transfer. 
This is a very safe and secure option. Up to $2,50,000 (INR 2.05 Cr) customer funds are covered.There is a lack of transparency regarding foreign currency exchange rates. 

Also Read: ACH International Money Transfer

FAQs

Does Huntington Bank accept wire transfers abroad?

Banks in the United States and other countries can transfer funds while maintaining the highest level of security. Wire requests can be made by sporadic users via your Huntington Banker.

What is Huntington’s international wire rate?

$15 (INR 1230) for foreign incoming. $50 (INR 4102) in international cash is being sent. $15 (plus $10 for wire transfers among Huntington accounts) for incoming domestic.

How long does it take for a Huntington Bank international wire transfer to complete?

By 4.30 p.m., all outgoing transfers must be set up; otherwise, they won’t be handled until the next working day. Prior to 5:45 p.m. Eastern Time, all incoming transfers are immediately credited to your Huntington Bank account.

We have covered everything about Huntington Bank International Wire Transfer! Hope you received better insights. Reach out to Fly. Finance for better guidance. For more study abroad needs, you can contact Leverage Edu.  

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