I send money monthly to my family in Europe from the US. I was sending quarterly with wire transfer for $40 through chase which sounded the cheapest option. Luckily banks no longer control money transfer more and more fintech companies are offering faster and more affordable service.
Thank is how I found Transferwise
They are not only affordable, but my family receives the funds in 3 hours and in local currency. The exchange rate is better then what you can find in the local banks or exchange stores.
Ok I took it to the extreme and found that when I was on vacation I ended up not changing my dollars locally but transferred funds to my European bank account instead as the exchange rate was better.
Check it out you have nothing to lose plus if you use the below referral link you get 1 free transfer.