12.3.2026
Send Money Abroad: How International Transfers Work
4 min read
International transfers explained simply. Learn how overseas transfers work, what fees may apply and how to send money abroad at low cost.
International money transfers are now part of everyday life for many people. Whether supporting family abroad, paying bills or using international services — people often need to send money abroad. Thanks to modern banking systems and digital financial services, such transactions are now faster and easier than before.
Nevertheless, many consumers wonder how an international transfer works and what costs may arise. International payments often differ from domestic transfers because several banks or payment systems may be involved.
Anyone who regularly wants to transfer money abroad should understand the most important processes, fees and alternatives.
What is an international transfer
An international transfer is a payment from a bank account in one country to an account in another country. This form of payment is often used for international business, travel or family support.
Many people simply want to send money abroad without dealing with complicated banking processes. Banks and fintech companies therefore increasingly offer simplified solutions.
A traditional transfer abroad is usually processed via international payment systems such as SEPA or SWIFT. International payments are often handled through systems like SEPA within Europe or through the global SWIFT network.
How an international transfer works
In an international transfer, money is sent from the sender's bank through an international payment network to the recipient's bank.
The process is usually as follows:
- The sender enters the recipient’s details
- The bank verifies the payment data
- The transfer is sent via an international network
- The recipient's bank credits the funds
This process is often referred to as an international bank transfer and may take different amounts of time depending on the banks involved.
When sending money abroad, the following information is usually required:
- Recipient’s name
- IBAN or account number
- BIC / SWIFT code
- Amount and currency
What costs arise with an international transfer
International transfers may include various fees. These depend on the bank, destination country and transfer method used.
Typical costs for international transfers include:
- bank fees
- exchange rate markups
- intermediary bank fees
The cost of international transfers can vary significantly, especially if multiple banks are involved.
Many consumers therefore pay particular attention to fees for international transfers before sending money abroad.
Additional transfer fees or payment charges may also apply.
| Type of cost | Description |
| Bank fees | Fees charged by the sending or receiving bank |
| Exchange rate markup | Difference between market and bank exchange rate |
| Intermediary bank fees | Costs when several banks participate in the transfer |
| Transfer service fees | Fees charged by fintech or online transfer services |
How long an international transfer takes
The duration of an international payment depends on several factors.
These include:
- destination country
- participating banks
- payment system used
- currency conversion
A traditional international transfer can take between one and five banking days.
Within the SEPA zone, transfers are often much faster. However, global SWIFT transfers may involve additional processing time.
Ways to send money abroad
Besides traditional bank transfers, there are several ways to send money abroad today. Many users also search for ways to send money abroad quickly without paying high bank fees.
Popular options include:
- international bank transfers
- online money transfer services
- digital payment platforms
- international fintech providers
Many modern providers enable fast international money transfers, often with lower fees than traditional banks. Such services are frequently used by people who regularly send money abroad.
These solutions are often referred to as international money transfers and offer advantages especially for smaller amounts. A modern international transfer can now be carried out via banks, fintech apps or specialized online transfer services.
How to send money abroad cheaply
Anyone who regularly sends money internationally should compare fees and exchange rates.
Tips for cheaper international transfers
The following tips can help send money abroad at lower cost:
- compare fees of different providers
- check exchange rates
- use direct banks or fintech services
- bundle larger transfers
Comparing different providers helps find the most cost-effective method.
FAQ
How do you transfer money abroad
An international transfer can be made through a bank or an online money transfer service. Usually IBAN or account number, SWIFT code and the recipient’s name are required.
How much money can you transfer abroad
In principle there is no fixed limit for international transfers. However, banks may conduct additional checks for very large amounts.
How long does an international transfer take
Depending on the bank and destination country, an international transfer can take between one and five working days.
What fees apply to an international transfer
International transfers may involve bank fees, exchange rate markups and intermediary bank fees.
Can you transfer money abroad for free
Some banks and fintech services offer international transfers with very low or even no fees. However, exchange rates and possible additional costs should always be checked.
