International wire transfers are a reliable way to send and receive money across borders, and KeyBank international wire transfer offers a streamlined service for its customers. However, the costs and processes involved can be complex, with fees and exchange rates impacting your transfer.
This guide provides a comprehensive overview of KeyBank international wire transfer services, including how to send and receive funds, associated fees, and cost-effective alternatives. Whether you’re sending money to family abroad or paying an overseas supplier, this article will help you navigate the process efficiently.
Table of contents
What Is a KeyBank International Wire Transfer?
A KeyBank international wire transfer allows account holders to send or receive money globally using the SWIFT network, a secure system for interbank transactions. While fast and convenient, these transfers come with fees and potential exchange rate markups that can add up. Understanding the process and costs can help you make informed decisions and potentially save money.
Why Choose KeyBank for International Transfers?
KeyBank’s wire transfer service is ideal for those needing quick and secure international payments. With access to the KeyNavigator platform, customers can initiate transfers online, making it convenient for both personal and business use. However, high fees and currency conversion costs may prompt you to explore alternatives.
Must Read: HDFC International Money Transfer
How to Send a KeyBank International Wire Transfer?
Sending a KeyBank international wire transfer is simple if you have the right details. You can start the process online or at a KeyBank branch. Here’s a clear guide with the steps to send a wire transfer abroad with KeyBank:
- Access KeyNavigator: Log in to KeyBank’s online banking or mobile app and go to the KeyNavigator section.
- Select Transfer Type:
- Direct Transfer: Choose “Create International Wire (with one receiving bank)” for a single bank transfer.
- Indirect Transfer: Select “Create International Wire (using intermediary banks)” if multiple banks are involved.
- Enter Recipient Details:
- Recipient’s full name
- Recipient’s bank account number
- SWIFT code of the recipient’s bank (use a SWIFT Wire Transfer code finder if needed)
- Currency of the recipient’s country
- Amount to send and transfer date
- Review and Submit: Check the details on the approval screen, edit if needed, and submit the transfer.
- Get Confirmation: After approval, the transfer status will show as “in process.” Expect delivery in 2–5 business days.
Tips for a Smooth Transfer
- Verify SWIFT Codes: A wrong code can delay or cancel your transfer.
- Time It Right: Submit before KeyBank’s 5:30 p.m. ET cutoff to avoid delays.
- Check Currency: Sending in the recipient’s currency may reduce conversion fees.
How to Receive an International Wire Transfer from KeyBank
To receive a KeyBank International Wire Transfer, the KeyBank account holder must provide the necessary documentation. It’s important to share the required banking details with the sender to ensure a smooth and successful international wire transfer through KeyBank.
Receiving a domestic wire transfer is very similar to receiving a wire transfer from abroad. You will simply need your account information and the routing number in place of KeyBank’s SWIFT code.
| Detail | Information |
| Bank Name | KeyBank NA |
| KeyBank Address | KeyBank NA, 127 Public Square, Cleveland, OH 44114 |
| Swift Code | KEYBUS33 |
| Name of KeyBank Account | Same as on your account statement |
| KeyBank Account Number | Complete Account Number |
| KeyBank Routing Number | Use the appropriate routing number for your region (for domestic transfers only) |
Important Notes
- No Incoming Fees: KeyBank does not charge for incoming international or domestic wire transfers. Only the routing number and account details are required.
- Currency Conversion: If the transfer involves a currency different from your account’s currency, expect a conversion fee based on KeyBank’s exchange rate, which may include a 5–7% markup.
Also Read: Axis Bank International Transfer
What are the Fees for KeyBank Wire Transfers?
Understanding the fees associated with KeyBank wire transfers is crucial for budgeting. Below is a detailed breakdown of costs for both international and domestic transfers.
International Wire Transfer Fees with KeyBank
The following are the costs for KeyBank International wire transfers:
| Wire Type | Fee |
| Outgoing International | USD 45 |
| Incoming International | USD 0 |
- Additional Costs: Intermediary bank fees (charged by third-party banks) can range from USD 10 to USD 100 per transfer, depending on the banks involved. Currency conversion fees may also apply, typically marked up by 5–7% above the mid-market rate.
Domestic Wire Transfer Fee for KeyBank
The following are the costs for KeyBank’s domestic wire transfers:
| Wire Type | Fee |
| Domestic Outgoing | USD 30 |
| Domestic Incoming | USD 0 |
Note: Fees may vary based on your account type. Check your account disclosures or contact KeyBank.
Other Transaction Fees
- Foreign Transaction Fee: Using a KeyBank card internationally incurs a 3% fee per transaction.
- Non-KeyBank ATM Withdrawal: USD 3 per withdrawal outside the U.S.
Also Read: PNB International Money Transfer
A KeyBank international wire transfer is a secure and convenient way to send or receive money globally, ideal for urgent payments or cross-border transactions. With the KeyNavigator platform, the process is straightforward, but the USD 45 outgoing fee, potential intermediary bank charges, and 5–7% currency conversion markups can make it costly.
FAQs
Yes, KeyBank accepts both domestic and international wire transfers. Visit a branch or use KeyNavigator to initiate or receive transfers securely.
Outgoing international wire transfers cost USD 45, with no fee for incoming transfers. Additional intermediary fees (USD 10–USD 100) and currency conversion markups (5–7%) may apply.
Yes, KeyBank supports ACH transfers to other banks via online banking for eligible accounts. Wire transfers are also available for faster delivery.
Transfers typically take 2–5 business days, depending on the destination country and intermediary banks involved.
While KeyBank’s fees are fixed, you can reduce costs by:
– Sending larger transfers to minimise per-transaction fees.
– Opting for ACH transfers for domestic payments when possible.
That was all about KeyBank International Wire Transfer! Hope you received better insights. Reach out to Fly.Finance for better guidance.
