Individuals and businesses across Austria increasingly engage in cross-border transactions, emphasizing the importance of understanding various transfer methods and their respective advantages and drawbacks. Traditional methods of sending money abroad like banks, wire transfers, and money orders often incur high fees and lengthy processing times. In contrast, modern solutions like OhentPay offer speed, convenience, and competitive exchange rates. 

In this guide, we delve into the ways of sending money abroad from Austria, looking at the pros and cons of all available methods to help you make the best decision suitable to your needs.

How do I send Money Abroad from Austria?

Modern Methods: Fintech companies like OhentPay are making it faster, easier, and more transparent to send money abroad from Austria. OhentPay functions as a reliable platform for worldwide transactions, including sending money abroad from Austria and over 190 countries It offers competitive rates, security measures, an easy-to-use mobile app, and low transaction fees.

To get started, just download the OhentPay app, create an account in 2 minutes, connect your preferred payment method, and you're ready to start sending money!

How to send Money Abroad from Austria using OhentPay.

To send money abroad from Austria to any country of your choice, follow these simple steps:

• Open the OhentPay app and log in with your PIN or fingerprint authentication.
• Tap on the 'Send' button or the arrow icon found on the homepage.
• Navigate to the 'send money' page and select the currency you want to send by using the dropdown menu
• Next, click on "select recipient" and add a recipient by tapping the '+' symbol located at the top-right corner of the screen.
• Select the country where your recipient lives from a list of more than 190 countries, and indicate the currency for the transfer.
• Fill in the remaining fields in the form and click 'Add Recipient.'
• Confirm the recipient's details displayed on the screen and choose 'Pay with Card.' You'll see the transaction fees and estimated delivery time (ensure your card is linked to your OhentPay account).

Traditional Methods: The traditional methods of sending money abroad from Austria include the following:

• Banks: While banks are known for their robust security measures, they often impose higher fees due to fixed transaction costs, have longer processing times, require in-person visits, and offer less favourable exchange rates. They are more suitable for frequent transactions and smaller amounts. To initiate international transactions from Austria using a bank, follow these steps:
• Reach out to your bank to acquire the necessary information regarding the process.
• Gather details such as recipient information, transfer amount, and the desired currency.
• Decide whether to proceed with the transaction online or through an in-person visit to a branch.
• Be prepared for processing delays, especially for larger amounts, as it could take several days.
• Money Transfer Operators (MTOs): While MTOs like Western Union and MoneyGram offer rapid and convenient international money transfer services, their user-friendly nature is accompanied by high fees and limited payout options. They are ideal for urgent, small transfers prioritizing speed over cost. To use MTOs, you need to:
• Choose your Money Transfer Operator (MTO).
• Provide recipient details such as name, address, phone number, and sometimes identification, which may differ depending on the location and transfer amount.
• Specify the amount and preferred currency.
• Pay the fees: MTOs apply transaction fees and may modify the exchange rate, so factor these into your total costs.
• The recipient can either collect cash at an agent location or receive funds directly into their bank account, depending on the MTO and the payout options offered.
• Cheques and Money Orders: Although they offer a sense of familiarity, cheques and money orders are slow, inconvenient, and often involve high fees and security risks. They require extended waiting periods, carry the risk of loss, and have limited accessibility in foreign countries.

To send money to another country from Austria using cheques or money orders, adhere to these steps:

• Obtain a traveller's cheque from your bank or financial institution. Money orders are available from banks, the post office, or other vendors.
• Fill in recipient details, and the amount, and sign where necessary.
• Send the cheque or money order to the recipient.
• The recipient can then visit the bank or post office to cash it.

 Wrapping Up.

When sending money abroad from Austria, it's essential to weigh your options carefully. One standout choice is OhentPay, which provides fast, secure, and affordable transactions.

If you’d like to send money anywhere in the world and prefer fast transfers at great rates, we recommend the OhentPay money transfer service. Create an account to get started here.