International Money Transfer How To

Your Guide To International Money Transfers

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Published: 24 May 2018

Sending an International Money Transfer isn’t always straightforward. If you don’t come from a financial background the jargon makes things more confusing than they actually are. The most important decision to make when figuring out how to send money overseas is which provider to use.


author Henry Newton

Henry Newton

Foreign Exchange Specialist

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Comparing Providers:

To the untrained eye, they all may seem the same; all they do is send money overseas, right?

There is actually a massive difference between providers!

  • Many are not always upfront about their fees and charges;
  • others are slow; and
  • Some take months to resolve issues.

Exchange Rates

We all know clothing stores mark-up the clothing they sell, and transfer services are no different, they mark-up the currencies they sell. This is why the exchange rate you are usually given is worse than the one seen on Google (Google shows the actual exchange rate that banks receive). Banks usually give you a rate that is approximately 4.85% worse than the actual exchange rate.


There is usually a fixed fee component. A fixed fee is charged to cover the cost of transferring your money overseas. Be careful, most providers advertise a very low fixed fee and make back the money on the exchange rate, so make sure to check both are competitive! Banks usually charge a fixed fee of $10-20 per transfer.

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Once you send your money it is important for it to arrive in a timely manner. Over the last few decades, the time taken to send money overseas has slowly been reducing. Timeframes can be hard to predict when dealing on a global scale time-zones and financial institution operational hours may not always line up. Most banks quote two to five days to transfer money overseas.

Ease of Use

To send money overseas your identity will need to be verified by the provider you use. This is a legal requirement to help prevent money laundering, however, this can be a painful process that requires photographing and scanning your personal documents and then includes several days of waiting for approval. Most institutions will either take 48 hours to approve documents online or will require in-person visits.

Customer Service

International money transfers can be confusing, so it is important to choose a provider that takes your experience seriously. You need to be able to receive quick responses and help with any of the processes.

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How Can Instant Global Payments Help?

How Instant Global Payments helps International Money Transfers

Exchange Rates

Get up to 4.35%* more money than converting currencies!


We don’t believe in making money off the fixed fee. We charge a flat $1 fee and will only pass on the $10-25 fee if we are charged it. In fact, when sending to most regions, like the EU, you won't be charged any extra.


We can usually settle funds in under 48 hours when sending to the main regions

Ease of Use

Instant account verification. You can sign-up and send money in under 3 minutes.

Customer Service

Always talk to the same customer assistant everytime so they know exactly what you need.

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