International bank transfers are a great and often the safest way to send money overseas; however, there’s a few things to be aware of should you choose this method of payment:
- The time required for a bank to complete an international bank transfer can take as long as three business days. If you need to send money sooner, consider an alternative payment method or contact your bank to find out exactly how long the transfer will take.
- Beware of hidden fees; some intermediate banks can (and will) take fees directly out of the money being transferred without the knowledge or consent of the sender or recipient, instead of charging disclosed fees at the endpoint banks.
- When sending money abroad, always use reputable financial institutions. Be weary of using cash offices; if possible, stick to bank-to-bank transfers.