Transferring money overseas refers to the process of sending money from one country to another. There are several ways to transfer money overseas, including bank-to-bank transfers, wire transfers, online money transfer services, and cash pickups.
Here are some common options for transferring money overseas:
- Bank-to-bank transfer: This method allows you to transfer money from your bank account to the recipient’s bank account, using their account number, routing number, and the bank’s SWIFT code.
- Wire transfer: This method allows you to transfer money quickly and securely, using the recipient’s bank account number, routing number, the name and address of the recipient’s bank and the bank’s SWIFT code.
- Online money transfer services: This method allows you to use companies like Western Union, MoneyGram, PayPal, WorldRemit, and Xoom to send money overseas.
- Cryptocurrency: This method allows you to use digital currencies like Bitcoin, Ethereum, and Litecoin to send money overseas.
It’s important to compare the fees, exchange rates, and transfer times of different methods before deciding which one to use. Additionally, you should also check the legal compliance and the security of the method you are choosing before making a transfer.
It’s also important to note that some countries may have restrictions on incoming or outgoing money transfers, and you should be aware of that before making a transfer.
RemitM is registered with the Information Commissioner’s Office (ICO), the UK’s independent authority set up to uphold information rights in the public interest.
All clients’ funds are held in a dedicated client account separate from RemitM’s funds, in line with our regulatory framework and consistent with good practice.
We earn no interest from holding client funds, as your payments and transfers are not held by us and are remitted to recipients upon receipt.
Your data is transmitted in a secure way and all password data is encrypted.