How to bypass caveats of international money transfer

international money transfer

If you’re planning to send money abroad, some caveats might stop you.

While these are not as large as the top concerns that prevent people from sending money internationally, such as fraud and being charged unjust fees, you should consider when doing your research whether or not it’s a good idea to send funds abroad.

international money transfer
international money transfer

Basic Process

Before you can begin to research the best way to conduct international money transfer, you need to understand the basic process of how and where your money is going.

You need to know that no matter what kind of service you use, they will take time to transfer your money overseas.

The companies that handle these transactions are linked internationally, and depending on which services you are using; your bank may be one of them.

There Are Some Caveats That Will Get In The Way Of This Basic Process:

  • Cautions about the sender’s country: If the receiver is based in a country with a risk of financial crime, they may be at risk. It is generally wise to use reputable institutions when sending money abroad.
  • Cautions about the receiver’s country: If the receiver is based in a country with a risk of financial crime, this could cause issues.
  • Cautions about the currency being used: If a currency has a high fraud rate, one could be at risk if they use that currency.
  • Cautions about the receiver: If the receiver is new to the country and does not have financial resources to pay back, this could cause issues.
  • Rules regarding remittance: Some countries would restrict payments that are less than $3,000 or so (less than $5,000).

Regulatory Conditions

If you are planning on sending money abroad, you need to make sure that the regulatory conditions are in your favour. There are a few things that you need to take into account. The first one is the risk of financial crime.

This is often referred to as the risk of illicit activities. The more difficult it is to send money abroad, and the more you have to jump through hoops, the less likely you’ll do it illicitly.

This is because it is difficult to prove that the money you send abroad was ever illicit. If it is easy to prove that the money you sent abroad was ever illicit, you risk having a fine levied on your account or even criminal action.

You need to take other things into account, but this should be part of everything when deciding whether or not it is worth sending money abroad. Financial Crime Risk along with Risk of Terrorism Funding are two main things you want to look at when reviewing your options.

Global Payments

A good way to find out how much the costs and the risks are is to look for a global payments company.

These companies will check your financial background, make sure that you are well established enough, and see what the regulatory conditions are so that they can give you all of the necessary information.

This would be a cheaper option than using an international remittance service if you’re receiving money from family overseas or if it’s easier for you.


As you can see from this article, it is important to look at the regulatory conditions before sending money abroad.

Global payments can make it easier for you to figure out how much it will cost, what risks are involved, and what regulatory conditions apply to your case.

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