There are nuanced differences when sending money abroad depending on where you are sending the money to. For example, when sending money outside of the EU you may find it a little more difficult, and currency markets a little harder to-pre-empt. However, regardless of where you are sending money abroad there are certain things you should be aiming for from the process:
Speed
Speed might be an important factor, depending on why you’re sending money. If sending money to Africa, for example, then you can get fast international money transfer. Fast money transfer means that the funds could reach the destination within 24 hours.
Security
Security is of paramount importance. Not only should the company you choose have recognition from the entities should as the International Association of Money Transfer Networks but there should be various security procedure in place, e.g. receivers of money should show a suitable photo-ID.
Good Exchange Rate
When sending slightly larger sums exchange rates can have a significant impact. Just 1% of £100,000 is obviously £1000. The exchange rate can vary because of many factors, including the time you send money, so you need to bear this in mind.
Appropriate Payment Limits
Finally, you need to check payment limits. When sending money to certain destinations via certain companies there are likely to be payment limits and obviously you should check this in advance.
