What Do I Need to Make an International Money Transfer?

Take care of the little details now. When it comes time to send your money transfer, the process will be short, sweet, and simple.

Xe Consumer

March 12, 20203 min read

If you’re looking to transfer overseas, it’s safe to assume that you’re on a mission. Whether you’re purchasing new property or sending money to a student studying abroad, you have an objective, and you don’t want to encounter any obstacles on your way to completing it.

Rather than rifling through yourdrawers for those documents or sending last-minute messages to your recipient for their bank information, take care of the little details now. When it comes time to send your money transfer, it’ll be short, sweet, and simple.

So, what do you need? Before starting your transfer, make sure to do the following:

1. Check your currencies

At this point, you should already know the currencies you’ll be transferring. If you haven’t already, this is the time to check the exchange rate. Depending on the rate and whether your recipient needs a specific amount, you might need to adjust the amount you’re transferring.

Not a fan of the current rate? If your transfer isn’t time-sensitive, consider setting up a rate alert or making a market order. Both options will help you to make your transfer at your ideal rate.

2. Let us know about your recipient

This is probably the most time-consuming step for you. For us to know where to transfer your money, we’ll need to know about your recipient.

You’ll want to have the following information about your recipient handy:

  • Full name

  • Address

  • Bank account number

  • BIC/SWIFT code

  • Bank name

3.  Provide your payment information

We won’t need as much of your information, but you will need to provide the information to make your payment.

You can pay through the following methods:

  • ACH direct debit

  • Debit/credit card

  • Wire transfer

4. Confirm the details

Before you send your money transfer, double-check to make sure everything’s right. Here’s your last-minute checklist for a mistake-free transfer:

  • Did you select the right currencies?

  • Are you happy with your rate?

  • Do you know exactly how much you’re transferring and how much the recipient will get?

  • Are you making the best type of transfer to fit your needs?

  • Are the recipient’s bank and personal details correct?

  • Are your payment details correct?

  • Are you aware of any additional fees for your transfer?

  • Do you know when your transfer will be sent and when it will be received?

If you’re happy with everything, then you’re good to send your money transfer. You will receive a confirmation with the details and receive an additional confirmation every step of the way.

We hope this guide has helped to answer some of the questions you have surrounding the process. Whenever you're ready, we're here to help you make your money transfer.