International Money Transfer for Businesses and Individuals23 min read
Reading Time: 9 minutesIf you’re an individual with family abroad or a business looking to expand globally, transfer money abroad fast, securely, and at a low cost.
New age digital banks are now making the process of international money transfers seamless with multi-currency accounts, dedicated IBANs, and real-time tracking.
From speedy transfer services to reliable custody solutions, a good platform allows you to efficiently move your money at a low cost.
This translates into simpler payroll processing for businesses, easier supplier payments, and bulk transactions sans the hidden fees.
People enjoy access to instant money transfer services, favorable exchange rates, and simple-to-navigate products that allow you to remit money overseas within a few minutes.
If you’re sending money overseas for the first time or you want to streamline your current operations, knowing the best platforms to transfer money abroad will help you make the best financial decisions.
When working with regulated providers such as The Kingdom Bank clients receive 24/7 support, fraud protection and clear pricing; simplifying cross-border payments like never before.
Transfer money abroad quickly, securely and at the best value for money. Now, with digital banks, you can enjoy fully integrated international money transfers with features such as real-time tracking, multi-currency accounts, attractive exchange rates, and more.
But with all the options, how do you choose the right one? And what can you do to make sure your money gets there fast and safely?
From instant payments to bulk business transactions, the right financial partner makes global transfers easier.
Below, we break down how to send money abroad efficiently, the documents required, and how platforms like The Kingdom Bank optimize every step; from fast money transfer options to secure custody solutions.
How Can Businesses Use International Money Transfer Services?
Multinational corporations depend on smooth global fund transfers to keep cash flowing, to pay suppliers and employees, and to orient themselves in a borderless world.
A dedicated business account with multi-currency support eliminates the need for multiple banks, reducing complexity and fees.
For corporations, The Kingdom Bank offers a range of customized solutions, including:
- Dedicated IBAN accounts are available to send and receive money in the most popular currencies.
- Bulk payment processing to handle large volumes of international payments at once.
- Virtual cards for secure online transactions, ideal for remote teams or subscription services.
- Real-time payment tracking to monitor transfers and reconcile accounts faster.
For industries like forex, digital assets, or e-commerce, compliance and speed are critical. Regulated platforms ensure a secure way to transfer money abroad while offering API integrations for automated payment workflows.
Businesses can also take advantage of foreign exchange (FX) to lock in advantageous rates, enabling them to protect margins against currency volatility.
Charges and delays are common when you’re paying your international employees or contractors. With fast money transfer options, companies can disburse salaries instantly, even in different currencies.
The Kingdom Bank’s business accounts enable batch payment, so HR employees can make payroll with one click and still keep full audit trails.
What Are the Benefits of International Money Transfer for Individuals?
For personal users, transferring money abroad to family or business partners should be hassle-free.
Modern digital banks are all about ease of use, including:
- Multi-currency accounts hold, convert and spend your money in more than 40 currencies with no conversion fees.
- Need to transfer money abroad instantly?
- For rush remittances, instant money transfer services can be used which can arrive within minutes.
- Cheap exchange rates as opposed to what you get with traditional banks or remittance providers.
- Money transfer from your mobile or any other device with a user-friendly platform.
If you have relatives overseas, paying for education abroad, or managing an estate in foreign country, the easy ways to transfer money abroad now include virtual cards and one-time payment links. Some providers even allow transfer money abroad without high fees by using peer-to-peer networks or optimized SWIFT routes.
In addition to transfers, many digital banks are also offering high-interest money savings accounts. Users can also accumulate their money in stable currencies and have the option to send money abroad when necessary.
The Kingdom Bank offers a frictionless combination of high-yield savings and global money transfers, so you’re covered in all your personal finance needs.
For those asking how to transfer money abroad online, the process is straightforward: open an account with a regulated provider, verify your identity, and initiate transfers via web or mobile app.
The Kingdom Bank, for instance, offers a fully digital onboarding process that takes minutes, with no branch visits required.
How Safe Is International Money Transfer for Global Payments?
Safety is the most important thing when transferring money internationally. Trusted companies utilize state-of-the-art encryption, two-factor authentication, and batch real-time fraud monitoring to protect your transactions.
Important safety benefits include:
- Full-reserve banking: which guarantees that 100% of customer funds are kept safely.
- Regulatory compliance with financial authorities, such as the Financial Services Unit (FSU).
- Dedicated IBANs to avoid misrouted payments and improve transparency.
- 24/7 customer service for an instant response.
For companies that process large international money transactions, their custody and settlement services offer an additional safeguard. The Kingdom Bank’s secure money transfer abroad includes segregated accounts for business clients, thus mitigating counterparty risks.
Fraudsters also frequently target cross-border payments to carry out phishing or fake invoice scams. Always double check the recipient information and choose services that provide real-time updates on status.
Transparent pricing matters just a ton; seek out providers that reveal all fees upfront, so there aren’t any surprises about charges for the fastest way to transfer money abroad.
What Fees Are Associated with International Money Transfer?
Fees differ based on the type of transfer and currency and provider. Standard fees include:
- Exchange rate markups (these are usually hidden in conventional banks).
- Flat transfer fees for outgoing payments (some platforms waive this for high-volume clients).
- Bank charges for SWIFT transfers (avoid via direct routing).
- Receiving charges in a few countries (please consult your local bank policy).
To transfer money abroad with low exchange rates, compare providers that offer mid-market rates or locked-in FX deals.
The Kingdom Bank, for instance, offers personalized prices depending on how many transactions you make, meaning that businesses and individuals can save money on recurrent transfers.
How to reduce costs
- Open multi-currency accounts to stop changing money on a repeated basis.
- Make use of batch payments to save on per-transaction fees.
- Go for more transparent fees and no hidden fees, like with The Kingdom Bank.
- When in a hurry to fulfill your needs, a balance is between cost and speed; sending funds instantly could cost you more than processing the transfer at a standard speed.
How Quickly Can You Complete an International Money Transfer?
The speed of transfer depends on the destination, the currency, and the network used for payment. Here’s what to expect:
- Instant or same-day transfers (available for certain corridors and often utilizing local payment rails).
- Standard SWIFT payments take 1-2 business days (however, delays may incur through intermediary banks).
- 3 to 5 business days for exotic currencies or countries undergoing heightened scrutiny.
For the best and fastest way to send money abroad, look for services with direct banking relationships. The Kingdom Bank’s enhanced SWIFT routes and local clearing arrangements enable you to send money faster than through correspondent banking.
The Kingdom Bank also offers how to transfer money abroad in minutes via card-to-card transfers or e-wallets.
Can You Track an International Money Transfer in Real-Time?
Real-time tracking is no longer a luxury but a necessity. Most reputable banks and financial platforms now provide live updates on international money transactions, allowing senders and recipients to monitor progress at every stage.
Whether via SWIFT, SEPA or local payment methods networks, transparency fosters less uncertainty.
The Kingdom Bank has, for example, incorporated real-time status alerts to its dashboard notifications.
Customers can watch their money exit their account, bounce between correspondent banks, and arrive at the destination.
This visibility is especially critical for businesses managing payroll, supplier payments, or time-sensitive deals.
Some platforms also let users know via SMS or email when the recipient’s bank has credited the money for instant money transfer services.
Always confirm that your provider supports:
- Transaction IDs for reference
- Expected delivery times (with cut-off hours)
- Details of the intermediate bank (if relevant)
Delays or lost funds can go unattended for days without any tracking. Prioritize platforms that make monitoring effortless.
What Documents Are Needed for an International Money Transfer?
The documentation required for international cash transfers differs according to the country, sum, and aim.
But here’s what you’ll need for most transactions:
Individuals:
- An ID issued by the government (passport, national ID, or driver’s license)
- Address verification (Utility bill or bank statement, usually should not be older than 3 months)
- Beneficiary information (name, address, bank details including account number and SWIFT/IBAN)
- Purpose of transfer (e.g., family support, education fees, property purchase)
For Businesses:
- Documents related to company formation (certificate of incorporation, tax ID)
- Proof of business address (utility bill or lease agreement)
- Invoice or contract (for paying suppliers/vendors)
- Beneficial owner information (when not transferring massive amounts)
Some countries enforce more strict anti-money laundering (AML) procedures. For transactions over €10,000 in the EU additional justification might be required.
With digital onboarding The Kingdom Bank simplifies this procedure allowing clients to securely upload documents in minutes.
Always check with your bank for the specific requirements before you initiate a transfer. Incomplete information may lead to a delay or cancellation in payment.
How to Choose the Best Platform for International Money Transfer?
There are other companies too: but it is a different ball-game when it comes to money transfers.
The best platform would be and depends on your needs:
Speed vs. Cost: Transfer Money Abroad with Low Exchange Rates
- Need to transfer money abroad instantly? For those wondering how to transfer money abroad in minutes, digital banks with instant payment networks (e.g., SEPA, Faster Payments) are the best choice.
- For urgency, The Kingdom Bank’s multi-rail system routes payments via the fastest way to transfer money abroad, automatically selecting the optimal network based on destination and amount. The best platforms to transfer money abroad disclose all costs upfront.
- Want to keep fees low? Keep in mind the exchange rate mark-up; some banks add hidden fees.
Currency Support
With a multi-currency account like The Kingdom Banks, you can hold, convert and send money overseas in nearly 30 different currencies, without little to no need for repeated conversions.
Features of Business accounts
Businesses should consider:
- Batch payments tools (CSV upload for payroll/supplier loading)
- API integrations (schedule transfers through accounting software)
- Dedicated IBANs (streamline receivables with international clients)
Security and Compliance: A Secure Way to Transfer Money Abroad
Verify it is licensed and regulated (such as by the Financial Services Unit of Dominica). The Kingdom Bank is full reserve banking, which means client funds at 100% are held securely.
User Experience: Easy Ways to Transfer Money Abroad
24/7 assistance is non-negotiable for urgent issues. Test response times before committing.
Red flags: Stay away from platforms with murky fee structures, or that have weak regulatory oversight.
Our platform supports transfer money abroad to family or business with minimal friction, backed by full-reserve banking security.
Can International Money Transfer Be Done via Mobile Apps?
Yes, most international money transfers today are initiated via mobile apps.
Top digital banks provide slick and polished experiences for:
- One tap to transfer to saved beneficiaries
- Instant currency conversion living rates at
- Secure biometric login using fingerprint/face ID
The Kingdom Bank’s app, to draw an example allows you to:
- Set up recurring payments (such as monthly rent to a foreign landlord)
- Create virtual cards to pay online safely
- Track via push notifications transfers of
There are also approval workflows available on business apps (finance teams can review major transactions, for example, before they are executed).
Limitations: On mobile, certain transactions involving a large sum or transfers with an exotic currency may require manual verification.
Be sure to check how many transactions you can make within the app.
How to Make International Money Transfer Cost-Effective for Businesses?
Businesses are losing money an average of $3,732 a year from not knowing the best places to send money internationally.
To transfer money abroad without high fees, follow these strategies:
Negotiate Custom Pricing
Clients with high volume can obtain special rates from banks such as The Kingdom Bank.
Ask for:
- Reduced FX margins (e.g. 0.5% over the interbank rate)
- Flat-fee structures (in place of a percentage-based charge)
Use Local Payout Networks
SWIFT transactions are not only costly, they are slow. Alternatives:
- SEPA (for Eurozone payments; these are usually free)
- ACH/Fedwire (for U.S. transfers)
- Local bank partnerships (e.g., payouts in INR via UPI in India)
Batch Payments
Consolidate multiple transfers into a single file upload. It reduces per transaction fees and it saves hours of manual input.
Hedging for FX Risk
And if your business runs on volatile currencies, consider using:
- Forward contracts (lock in rates for future transfers)
- Multi-currency accounts (keep money in the target currency to avoid multiple conversions)
Avoid “Free Transfer” Traps
Some platforms promote themselves by claiming they charge zero fees but they make money on inflated exchange rates.
Be sure to compare the whole cost (fees and FX markup). A 1% fee plus 2% foreign exchange markup is more expensive than a 1.5% all-in fee with no markup.
How to Transfer Money Abroad Online?
Efficient ability to send money overseas is no longer a luxury but rather a necessity for today’s global citizens and businesses.
This philosophy is what The Kingdom Bank embodies, providing international money transfers with live tracking, low prices and strong security.
Utilizing multi-currency accounts, dedicated IBANs, and mobile-first solutions, users can make international payments with peace of mind, confident that their funds arrive rapidly, securely, and cost-effectively.
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