When it comes to finding out how to transfer money overseas, you have a lot of options – sometimes it feels like too many, and it can be overwhelming. Often the money is urgently needed where it’s heading and the amount of time it takes for the funds to reach the intended recipient is the most important part of the equation. Here is a how-to guide on how to quickly and easily get money where it’s needed through a direct overseas online transfer.
Use our calculator in the top right hand corner of the page to work out exactly how much your intended recipient will get once your overseas money transfer is completed. OrbitRemit offers a couple of advantages – we will have the money there within one to two business days and we are one of the cheapest ways to transfer money overseas in terms of both fees and exchange rates.
The next step is for you to set up the transfer using our straightforward online system. You’ll need to let us know the recipient’s name, bank account number and other identifying details. We will then give you instructions on what to do next, what information to give your bank and exactly how much will be arriving at the other end as well as any associated fees or charges.
Fund the transfer by moving the money to OrbitRemit’s local bank account in your country using the details we’ve provided you. The exact process for this differs slightly from bank to bank, but you will be performing a domestic money transfer from within your Internet banking system so there are no international money transfer fees associated with this part of the transaction.
The recipient now only needs to wait for the money transfer to arrive in their bank account. This is going to take one to two business days after we receive your funds. If there are public holidays or weekends around the time that you’re making the transfer, you’ll need to factor these into the timing (for example, around Christmas and Easter).
Things you need to know:
There are a wide range of different options available to perform an overseas money transfer. The process of transferring money can involve a range of different fees and charges. It is extremely important that the service provider you select is able to show you exactly what it is going to cost you in advance. The last thing you want is to get stung with unexpected expenses as you send money in a hurry.
Many other money transfer companies will also charge the recipient a fee to receive the funds, so be sure to check this out. With OrbitRemit we’ll tell you exactly how much it’s going to cost and how much will be arriving at the destination, so you know the deal upfront at all times. And there will be no receiving fees at the other end! Check out our money remittance calculator on the right hand side to see exactly how much money will arrive at your destination.