19 January

Steps required for transferring money abroad

If you are attempting to send money abroad for the first time, either to pay a worker or to a family member or friend, you might be wondering how you can achieve that. The good news is that it is not only possible but very easy to send money abroad. This article will discuss the steps you need to take when you want to transfer money abroad.

Find a money transfer company you can trust
The first thing you want to do is to find a money transfer company that you can trust. This is important as you don’t want a situation where you will send the money and the recipient will not get the money or the recipient will get the money after days coupled with a lot of stress of trying to trace the money. You can read reviews about money transfer companies and try to search for the best money transfer companies to transfer money from your country to the country you want to transfer money to. Once you have found the right company and you are sure you can trust the company, then you can proceed to the next step.

Visit the website or install an app
The next step will be to visit the platform that you want to use to send the money. There are 2 major ways most platforms allow you to send money. You can transfer money either from their website, their app or both. For some companies, you can only use the website and for others, you can only transfer money from an app. Thus, you should visit the website if you can send money from the website or use the app. You would most likely be able to get the app by visiting the play store for the operating system of your device where available. One of the companies you can patronize is Transferwise after reading reviews about Transferwise.

Most platforms will expect you to register before you can transfer money. During your registration process, you would be expected to provide some basic details about yourself. Ensure all the important information required about you by the platform is not only filled but correctly filled. This is part of the reason why you want to make sure you can trust the company and that your information will not be exposed to third parties or used for other reasons.

Load account
The next thing you want to do is to load the account. Some platforms might allow you to link directly to your account, so that money can be debited from your account directly anytime you want to send. Others would require you load the account and then you can transfer from the balance you have on the platform. You can always load the account once it gets empty or lower than what you want to send.Transfer
The final step is to transfer the money whenever you need to transfer the money to the recipient. You will be expected to fill in details such as the amount you want to send and the account details of the recipient including name, account number, bank name, country and/or SWIFT code