You may have stumbled upon this blog, either because you wish to send money internationally and so, would like to know the required length of time for the payment or you’ve made the price and are simply wondering how long it will take, to be completed. Whatever your reason is, you have arrived at just the right place. All your questions will be answered and tips to quicken your international payments will be provided. Let’s get right down to it then, shall we?
What is an International Money Transfer?
An international money transfer is an electronic transfer of funds from one bank to another in a different country. In this case, your money will be sent directly from your account to the recipient and deposited in the currency they need, for convenience.
How can I send money internationally?
You can choose to send money through your local bank; To do this, simply visit one of the closest banks to you, provide all required documents and make your payment.
You can also send money through a Money Transfer service provider; This method has proven to be faster, cheaper, and easier compared to payments made through Banks and other conventional financial institutions.
Some individuals also prefer to conduct money transfers through over-the-counter agents, although this method has proven to be unsafe and unreliable, it is convenient for many.
How long do International Money Transfers take?
Now, this is highly dependent on the method of transfer, you wish to adopt. While some may require a longer period, some are also instant.
Money transfers through the bank: International bank transfers usually take one or two days but can also take as long as five, depending on the currency. For instance, US dollars and Euros are normally quicker than weaker currencies.
Money Transfer platforms: This method is usually quicker, and most times requires just 24 working hours to complete, depending on your mode of payment. When sending money through ATLMonry for instance, international payments made through mobile wallets are processed instantly. In contrast, payments made through bank transfers require 24 working hours to be processed.
Some other general tips to quicken your money transfers are;
- Ensure you have enough funds in your paying account before you proceed to make the transfer.
- Make calculations beforehand, to prevent unplanned expenses and delays.
- Ensure you provide the recipient’s correct information, to enable the payment to be processed, if not, it will be bounced back.
- Check the platform’s rates and fees, before making the payment.
- Also ensure that you provide correct information and identification documents as required, to enable your payment to be processed.
Thanks to technology, which has enabled the development of numerous payment solutions such as Money Transfer platforms, you can now send money to your recipient abroad with ease and from the comfort of your home. No more long queues, delayed payments, and protocols, because you can send money within minutes and at the best rates in the market when you do so with ATLMoney.
ATLMoney is a payment platform trusted worldwide. With our office located In London, United Kingdom, we handle thousands of transactions daily and our sole mission is to make money transfers transparent and secure for everyone.
So why not put a smile on your loved one’s face today, by sending money with ATLMoney?