Follow the prompts to add the recipient’s details.Select Using their account number at another bank.Navigate to the Transfers tab and tap Send money to someone.Log in to Bank of America online banking.Here’s how to send an international wire with Bank of America, as an example: Sending a payment overseas with your regular bank is usually pretty simple – particularly if you use your online banking service. Steps to send money abroad with traditional banks Because several intermediary banks may be involved in processing your payment, extra fees can creep in, too. Most US banks do facilitate international payments online, by phone, or in person so you have a range of ways to set up your transfer.īank international transfers are usually processed through the SWIFT network, which is reliable and safe – but also slow and expensive. Turning to your normal bank to help you send a payment overseas may be an obvious choice. Read on for more about the pros and cons of each. Use a provider which offers cash collection services.The best way to arrange your international payment will depend on how you want to pay and how you want the money to be received. OFX: A specialist foreign exchange service with superb customer service Step by Step: How to Send Money Internationally Step 1: Choose the method to send money abroad: Revolut: A great choice for sending money to friends and family overseas Xe: A reliable service with no upfront fees WorldRemit: A great choice for sending amounts less than US$10,000, especially good for Asia, Africa and South America Wise (formerly TransferWise): One of the most popular currency exchange providers in the world with low, transparent fees, especially for smaller amounts but can also offer good fee discounts for large transfers. Remitly: US based online service that offers international wire transfers for a small fee Best international wire transfer services We’ll break down this step by step guide to sending an international wire transfer, and cover each step in more detail. Your payment will be converted and sent to the recipient.Choose the method you want to use to send your wire.The exact detail of what you need to do to send an international wire will depend on the provider you select, and their own individual process. The good news is that there are plenty of ways you can choose to send an international wire transfer from the US. How to make an international wire transfer It’s a global body which helps banks safely process international payments by offering secure messaging and assigning each bank in the network a unique identifier to guide payments. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. Banks usually send international wires through the SWIFT network. Your bank will then arrange the payment so it’s conveniently deposited once it’s been processed. You can usually arrange an international wire transfer online, by phone or in a bank branch, by giving your bank the recipient’s personal and banking details. International wire transfers are payments sent from your bank account, for deposit into your recipient’s bank account directly. The final verdict on international wire transfers.
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