Step-By-Step Guide to Make an International Bank Transfer
Updated: Dec 17, 2020
You have done your research on how to send money abroad and take advantage of lower fees, secure and fast transactions.
Now you are ready to roll so you can get that transfer sent.
Below is a step-by-step guide in how to send money internationally via TransferWise. The process is very straight-forward but if you require a reference guide, please follow the steps below. Step 1: Click on the link to commence the registrations process. Click Here
This will take you to the TransferWise homepage to Register. You can either select the Register button at the top of the page or select the Get Started button. Step 2: Click on either Personal or Business option. If you are a single individual select Personal or if you are a business select Business. If you require more information on Business account options, please refer to this link that will discuss more details about TransferWise’s borderless business account features.
For the purpose of this article we will select the Personal option. Enter your email address Create a password
Choose your country of residence Click on the Sign Up button Step 3. Once you have entered your details, you will be brought to the Amount section.
A. Here is where you key in the amount and the currencies you want to send. TransferWise’s calculator will display all the charges associated with the transfer, the amount to be converted, and the guarantee rate. Plus you will get a projected savings compared to other options and the time when the transfer will arrive. In this case, transferring British Pounds to Singaporean Dollars with the lowest rate selected; this transfer will arrive in seconds! That is amazing..
B. If you can select the Transfer Type option and see the other options available to you. By default, TransferWise selects the lowest fare option.
Step 4. Here is where you click on Personal selection since we are paying from our personal bank. If you have a Business Account, you have the option to select either one dependent on what type of transfer you want to send. Complete the form in which you enter your personal details and then select Continue.
Step 5. The next section is the Recipient section. Here is where you need to select to whom you are transferring money to. You have three options: Yourself, To Someone Else, Business.
Step 6. On your first transfer, TransferWise will need to verify your Identity. This is for your protection and is standard to ensure no fraudulent activity is being conducted. You have the option to provide your National Id, Passport or Driver’s License.
Once you upload your personal ID document, TransferWise will manually verify your document. This is one time action during this initial sign up phase, so please be patient at this point. Verify the transfer details and select Confirm and Continue. Step 7. Once your details have been confirmed (should happen in minutes), your transfer will be sent immediately which you will need to confirm Review Payment.
You should receive a notice indicating that your transfer is in Process. Once it has been sent you will receive another message in your inbox or on-screen confirming the transaction is in process to be sent to your recipient.
Then once it has been completed. You should receive a message stating your transaction has been sent and completed.
Congratulations! You have made your first transfer via TransferWise. It was fairly painless, right? Now that you have registered, download the app and you can use their simple, ease of use Android or Apple IOS application which you can manage your transfers with a few clicks on your phone. So register now and commence your savings!