How to Send Money Internationally

How to Send Money Internationally

The SWIFT network is now the worldwide standard for wire transfers between countries. Using its services, money can be sent from one foreign financial institution to another. To do this, it gives each financial company a unique code that can be used to send money to the right account. Even though “SWIFT” is a word, the way it sends information is pretty slow. Using the Internet is like riding in an airplane. If there isn’t continuous service between the airports on your route, you may need to take two or more connecting flights to get to your final location. It works the same when you use SWIFT. The how to send money internationally will be covered in-depth in this article, along with some examples for your convenience.

Transferring money from one bank account in one country to another bank account in another country usually takes two full business days.If you do business with people in other countries, you will need to be able to send and receive money from people in other countries. You can send money overseas in many ways, such as with cash, a check, a bank transfer, or a money order. This could be dangerous and will take a lot of time. International bank transfers are the safest and most effective way to send money to another country. You can change thousands of dollars into any other currency, no matter what the country you’re going to needs. Learn about the best practices for addressing how to transfer money from one account to another topic by reading this guide from a blog post.

How to Send Money Internationally

If the company in the United Kingdom that handles your savings account goes bankrupt, you will still be covered by a government-run program. Financial deals that involve foreign exchange follow different rules. There is NO GUARANTEE that you will get any of your money back if you use an internet transfer provider (or any transfer company that holds your money) and that company goes bankrupt while it still has your money. The how to send money internationally list is provided below for your research and educational needs.


Zelle is a great peer-to-peer solution for transferring money between bank accounts. You can use it if you need to send money to someone but don’t care about how easy it is to pay straight from an app (like PayPal). Zelle is a way to move money from one bank account to another. Due to the fact that the Zelle Network is now made up of over 10,000 financial institutions, about 1,700 of which are in the United States, a lot of people can now make instant, fee-free bank payments. Zelle will handle 1.8 billion transactions in 2021, which will add up to $490 billion in funds.


PayPal stands out from other peer-to-peer money transfer apps like Venmo and Zelle because it is easy to use and accepts many different payment types. If the recipient’s PayPal account is credited right away, the wire transfer to the recipient’s bank account can happen the next working day. Even if the recipient doesn’t want to connect their PayPal account to a bank account, they can still use their PayPal balance to buy things because the site is so popular. Due to the high fees PayPal charges for foreign transactions, the service is mostly used to send money within the U.S. But $10,000 is the most that can be moved in a single transaction.


OFX could be a good option for customers who like to do business online but value having reliable phone help. Before sending large amounts of money overseas, I would feel a lot better if I could talk to a third party about the exchange. When people in the U.S. start a foreign wire transfer, they no longer have to pay a fixed fee. OFX is a great choice if you need to send a lot of money to a foreign country because their website is easy to use and they offer a good exchange rate for transactions over $7,000. When choosing a service to send money internationally, consider factors like transfer speed, fees, and currency conversion rates.


Xoom’s online service is relatively expensive. Paying with PayPal or a bank account has minimal upfront fees (from $0 to less than $5). Exchange rates may have a markup of over 2%. Credit or debit card payments are preferable to avoid markups. Some service providers add less than 1% as a markup. Xoom typically charges lower foreign wire transfer fees compared to traditional banks.

Regardless of the payment method, most wire transfers are quick. Delays may occur due to varying bank hours and time zones. Cash on delivery payment options available in some countries. Sending limits often smaller than daily transfer limits, which can reach $50,000. Payment options include PayPal balance, debit/credit cards, and regular bank accounts. Customer support via email in multiple languages and phone support from 9 a.m. to 9 p.m. ET in English, Spanish, and Filipino. Positive feedback for mobile apps and user-friendly website with cost calculator and FAQ section.


No matter which bank or money transfer service you use, moving money abroad through the Internet will almost always save you money. We suggest you use Wise if you need to send less than about $7,000 in an overseas money transfer. Their exchange rates are some of the best available, which makes them a good choice for sending money abroad that costs at least US$7,000. With an easy-to-use website and streamlined process, you can now enjoy the ease of a bank transfer without ever going to a branch. They also offer an app for mobile devices that is easy to use, as well as more ways to get in touch with customer service.

Union De L’ouest

There’s no set price. Western Union charges vary from under 1% to over 13% in addition to the bank’s base rate. Transfers up to $1,000 may cost less than $5, with markups from under 1% to over 13%, based on source and method. Faster, same-day service available at a higher cost for cash pickup and debit/credit card payments. Neither the sender nor the recipient needs a bank account for cost-effective money transfers. Western Union’s website details transfer limits and country-specific variations. A prominent player in foreign money transfers, Western Union focuses on in-person cash delivery and pickup options. Distinguishing feature: Extensive network. Website lacks a user-friendly interface for currency rate comparisons, with the FAQ section not easily accessible.

Suave: The Ultimate Debit Convenience

Do you take credit cards and debit cards for the money transfer? Think about using Google Wallet or Apple Pay instead.The right answer is “yes,” but companies will probably add extra fees, which will make the total cost go up, especially for larger transactions. Wise’s extra fees are much lower than those paid by traditional financial services like banks, Xoom/PayPal, and Western Union. In the same way, making a payment through the Wise website or mobile app is easy.

Sending Money Abroad by Phone

Your foreign transfer can be handled just as easily through the bank’s call center as it can in person. The customer service rep will walk you through the last steps of the process, so all you need to do is gather the information you would usually bring to the store. At the end of the process, they will give you an idea of how long the transfer will take.


Banks usually charge more for foreign wire transfers than companies that do this kind of work all the time. They have higher fixed costs and lower exchange rates than the other places we suggest, but they still come highly recommended. Even so, we suggest that you use Citibank for all of your wire transfers so that we can make a fair comparison. This is because their exchange rates and processing fees are among the best in the market. Compared to the services given by other high street banks, a large amount of money sent through this service will travel farther.

Using Non-Traditional Money Transfer

Specialized currency exchange companies excel in international money transfers. Internet-based services streamline foreign wire transfers. To begin, select a provider, create an account, and make your first purchase within 24 hours. Payment options include credit cards, debit cards, and bank account transfers. Payments adhere to strict regulations, typically depositing directly into the recipient’s bank account. Apart from traditional banks, various alternatives offer similar services. Despite shorter industry presence, don’t hesitate to engage with them. Efficient and cost-effective transportation without compromising safety. Note that this approach may take longer than a visit to the bank.


Price is a significant investment. Bank transfers have low upfront fees. MoneyGram has high rate markups. Other payment methods can be costly. Delivery timing depends on payment choice and other factors. MoneyGram’s online limits: $10,000 monthly and per transfer. Transfer limit can be up to $15,000 based on destination. Physical locations allow cash payments and pickup. Purchase options include bank accounts, debit, and credit cards. Website provides fee details and customer support options. Positive feedback for the company’s mobile apps. Many financial institutions offer convenient options to send money internationally, catering to the needs of global transactions.


The World Bank thinks that the total amount of money sent abroad as transfers in 2018 was about $689 billion. Due to more competition from companies that specialize in sending small amounts of money, the cost of wire transfers keeps going down. Money transfer companies like Western Union, MoneyGram, and Xoom continue to get the most users. On the other hand, traditional money transfer services usually charge more for their services. Because of this, we highly recommend that you use WorldRemit. For cash transfers worth less than $2,000 US, they offer better exchange rates and lower processing fees.


Why was my Payment Via Foreign Bank not Received?

Your transaction could take much longer than you expected because there are many factors that affect how long it takes to finish a bank transfer. There are many things to think about, such as the time, place, currencies, security checks, bank holidays, and the goals of the deal.

Can it Take more than 5 Business Days to Receive an International Bank Transfer?

If you ask your bank for an international wire transfer before the cutoff date, the money should get where it needs to go between one and five working days later. We’ll talk about why international wire transfers may sometimes take longer to come in a moment.

Where can i Find Confirmation that my International Money Transfer Went Through?

With the SWIFT number you give, the person who is getting the money can check at any time to see how the exchange is going. Once you have the SWIFT number, call your bank and ask for a wire trace. It will be used by the bank to figure out if the money has been moved or not.


For your bank to send a wire transfer to another country, you need the recipient’s full name, writing address, bank’s SWIFT BIC, bank account number, and (for some countries) the International Payments System Routing Code. In either way, there is no limit on how much money can be sent or received. But it is common for banks and money transfer services to limit the number of moves a person can make each day. The business is the only one responsible for this. Some sites might have a daily cap of $3,000, while others might not have any. Summing up, the topic of how to send money internationally is of great importance in today’s digital age.

Scroll to Top