How to send money internationally
Do you remember the days of traveler’s checks, exchanging money at banks, and paying high fees and conversion rates? Do you need to transfer money oversees to your project, to the Missionary you support, or to an organization that you sponsor?
Or more specific, are you considering booking your flights with SIAMA, but worried about how to transfer money internationally?
For all your international money transfers we recommend Wise (formerly TransferWise), a company focusing on “borderless banking.” They offer great banking solutions that are ideal for international travelers.
Low and transparent fees
Wise is a great tool for sending money internationally with low fees — compared to a bank and many other services.
They are actually 8x cheaper than banks and as much as 14x cheaper than PayPal!
On top of the low fees they use the mid-market exchange rate without any hidden costs.
When you make an international payment using Wise, you can exactly see how the fees and exchange rate is calculated. When you change the transfer type the change is immediately re- calculated. You can even see how much you are saving compared to a bank and when the payment should arrive. Then, you can adjust and proceed from there.
If you make a payment to SIAMA using Wise, we will absorb the fees. You pay what is on your invoice, without any additional charges for you.
Easy and swift
Setting up a Wise account can be done from anywhere online.
It is easy to use. Once signed up you just go through some simple steps of adding your details and destination bank account number, as well as the account you want to withdraw funds from.
Once you have made your first transfer you can save your details making future transactions even quicker.
1. Register for free.
2. Choose an amount to send.
3. Choose a payment method
4. Add recipient’s bank details.
Currently 39 currencies are supported by Wise, and they are adding new ones frequently.
You can transfer between the following currencies:
New Zealand Dollar
South African Rand
And also from the above currencies to:
Hong Kong Dollar
South Korean Won
Sri Lankan Rupee
A Wise account
Wise offers more options that will make your international life easier:
Main features of a Wise account:
- Balances – you can hold and convert money between the 50+ currencies in which we offer Wise balances.
- You receive money in 10 currencies for free into your Wise account (US dollars, British pounds, Euro, Canadian, Australian, New Zealand and Singapore dollar, as well as Hungarian forint, Romanian leu and Turkish lira)
- US, British pound and Euro bank details allow you to set up direct debits
- Debit card – with the Wise Visa card, you can spend in over 200 countries without the hidden fees.
- Money transfers – send money to over 60 countries at the real exchange rate and low, transparent fees
- Jars – Money in a jar is kept separately from your balances
- Wise Large Transfers – You can save on large transfers with Wise through discounted pricing for high-value transfers.
When travelling or living abroad consider Wise. With their multi-currency account and debit card you can pay and withdraw money in over 40 currencies from local ATMs — much cheaper than using your local bank.”
The Borderless Debit Card
With the Borderless account is the Borderless Debit Card. It’s free, and can be used anywhere in the world that accepts MasterCard.
Secure and Regulated
TransferWise is regulated by the UK’s (FCA) Financial Conduct Authority, meaning customers who use the service are protected under European rules and regulation.
Have you had enough of excessive fees charged by banks, and time-consuming and difficult procedures when you need to send money overseas? Give Wise a try, the next time you wonder how to transfer money internationally.
We are part of the Wise affiliate program and the links in this article are affiliate links from which we receive a commission, at no cost to you.
Or would you like to attain more information about our services?
Please do not hesitate to contact us!