Receiving or Sending Money Worldwide in 202310 min readReading Time: 4 minutes
Receiving or Sending Money Worldwide is extremely important. Especially if you have a global company. In the modern world, money or asset transfers can happen very quickly.
You can send money anywhere in the world in just seconds in 2023. With the development of technological infrastructures and products, online networks and digital banking applications have also become widespread.
In the past, sending or receiving money to any account in another country took a lot of effort and time. However, thanks to the new possibilities of today’s world and the mobility it offers, receiving or sending money can be done in seconds.
Transfers have started to take place in the digital environment, especially with cryptocurrencies occupying a large place and capital in the economic world.
How can I receive or send money?
In the past, there were 3 traditional methods for those who wanted to transfer money. These are cash, checks, and wire. Cash is the most logistically demanding way to transfer money.
It needs to be physically transported and accessed. Checks are documents created to receive a specified amount of money from banks and were more common in the past for this transfer.
Today, the third of these traditional methods, wire, is one of the most common methods of money transfer. It continues to expand, especially thanks to the diversity offered by digitalization and technological infrastructures.
With digitalization, you can send money to and receive money from anyone anywhere in the world. In recent years, the number of alternatives has increased considerably thanks to cryptocurrency networks that have entered the economic world.
The safest way to receive or sending money?
Whatever the amount of money we want to transfer, we want it to be sent through reliable channels.
At this point, it is necessary to work with banks and cryptocurrency platforms with corporate identity. Since banks are supervised by authorities and governments, we are unlikely to experience any security problems.
Likewise, cryptocurrency, which is one of the popular economic instruments of recent years, is also one of the safe transfer methods.
In this method, secure transfers take place within seconds, as cryptocurrencies have a decentralized and transparently recorded network on public ledgers.
We, as The Kingdom Bank, are aware of how essential security is for our customers, and we never leave any security-related gaps in both classical banking transfers and the digital methods we recommend.
The limits for receiving money overseas
In the past, there was a tiring paperwork process when transferring money. There was a lot of documentation that the sender and receiver had to prepare.
This paperwork became even more complicated when it was necessary to transfer money abroad.
Many documents such as passport copies, proof of residency, identity cards, and bank records should have been reported to the intermediary institution before the transfer. In today’s digital world, these are just memories.
There are almost no limits and restrictions on the money you can send anywhere in the world in seconds. In traditional transfer methods, money above a certain amount can be examined by the authorities.
However, there is no place, time, or amount limit for your transactions with cryptocurrency platforms and intermediaries such as The Kingdom Bank.
How much money can be transferred overseas in a year?
Offshore banking transactions may also vary depending on the situation in the country you live in. Offshore baking means overseas banking.
Good diplomatic relations between the country you are transferring to and your residence may provide better conditions. Generally, there are limits for sending money abroad, which are determined annually. These limits are around one hundred thousand dollars.
In other words, if the money you send is over one hundred thousand dollars, it means that your account will be examined. Thanks to today’s technology and digital conveniences, we can receive and send money from anyone anywhere in the world.
Thanks to intermediaries like The Kingdom Bank, the world will seem very small to you. You will experience this freedom and speed to make cryptocurrency or normal money transfers in seconds.
How can I receive money all over the world?
Let’s say you need to get a transfer from anywhere in the world. It would not be wrong to say that you have many alternatives for this.
There are various methods, from banks with a corporate identity that provide banking services that make transfers with the SWIFT method, to platforms where you can trade and transfer with cryptocurrencies.
You may need to make a different decision based on your business or your circumstances. If you want it to be faster, you can opt for transfers via cryptocurrencies.
If you want it to be more secure, it would be good to evaluate the transfer options of banks. Cryptocurrencies are also safe but independent of banks and have a more free atmosphere.
This allows you to be more unlimited and faster during your transactions. At The Kingdom Bank, we have a network where you can transfer with any business or person located anywhere in the world.
With the support of technological developments, we continue to make the world a small place for us and take a role in globalization.
Best international money transfer app
As in every field, digitalization has increased considerably in the economy and finance sectors. Almost every bank has developed mobile applications.
Companies that provide banking services that want to strengthen their position in the market took their place in digital stores. You know the digital stores where you buy the applications available on our mobile phones or computers.
Money transfer apps are among the most downloaded from these stores. In addition to numerous money transfer applications developed by many different banks, many applications can be transferred using cryptocurrencies.
If we want to make international transfers or commercial transactions, we can benefit from bank applications that use the SWIFT method.
On the other hand, reliable applications that add digital innovations to traditional banking such as The Kingdom Bank can also be preferred.
Thanks to The Kingdom Bank’s mobile application, you can receive your money transfer from anywhere in the world and send it to overseas countries within seconds.