Transferring money internationally from one bank account to another can seem confusing at first, but it doesn't have to be. Whether you're an expat, a businessperson, or someone supporting family abroad, knowing how to send money to a foreign bank account safely and affordably is important.

In this blog post, we'll walk you through the details you need, how to send money abroad and how to transfer money to a foreign bank account using OhentPay. With modern technology and the right approach, sending money across borders to a foreign bank account can be straightforward and hassle-free. So let's get into the post and explore how to transfer money to a foreign bank account!

What Details Do You Need to Transfer Money to A Foreign Bank Account?

Before you can transfer money to a foreign bank account, you need to have the following details listed below:

Recipient's full name and address.

The full name of the receiver is one of the most important details you'll need. You cannot use the nickname you call them, if any. You have to use the name recognized by the government. It doesn't stop there, though. The physical address of the receiver is also a piece of important information that you cannot skip.

Recipient's bank name and address.

There are many banks in the country where your recipient is in. So you want to be specific about the exact bank you are sending to. Additionally, you are to include the address of the recipient's bank.

Amount of money.

As a result of currency differences, you need to be sure that the amount of money you are sending is the exact equivalent that you want to send. This is to avoid any mistakes. 

Recipient's bank account number.

This is very vital information. Without it, your transfer cannot go through. So, make sure to confirm the account number of the person you are transferring money to. 

SWIFT Code/BIC.

These two terms are most times used interchangeably. When applicable, make sure you put the correct SWIFT code/BIC of the recipient.

How to Transfer Money to A Foreign Bank Account

Step 1- The first thing you want to do is to decide what method of transfer you'll be using. There are many ways you can make transfers to a foreign bank account. Among them are: Western Union, MoneyGram, SWIFT transfer, and FinTech apps. There are many FinTech apps out there and OhentPay is one of the best you can find. FinTech apps are also on the top list of fastest foreign bank transfers.  

Step 2- Remember the details we mentioned in the previous session? That is, getting the recipient's name, account number, bank name, SWIFT code, etc; you need to have them ready. Always confirm that these details are correct before you make a transfer so that there are no errors or avoidable delays.

Step 3- There are two different countries in the process of sending money to a foreign account (sender and receiver), so the currencies will differ. You want to check with the current exchange rates to be sure exactly how much you should send.

Step 4- After making these needed confirmations, you want to go ahead and transfer the money. Since you must have chosen the transfer method you want, confirmed exchange rates and the recipient's information, sending the money will be easy.

Depending on the transfer method you use, the time of receiving will vary. For swift transfers, use OhentPay to send money abroad to your loved ones. Start with OhentPay here. 

How to Transfer Money to A Foreign Bank Account With OhentPay

If you want swift, seamless transfers to over 190 countries, OhentPay is your best bet. Follow the steps below to see how to easily send money to a foreign bank account using OhentPay.

• Sign Up/log in: Start by downloading the app on your mobile device here. After that, sign up or log in, depending on whether or not you already have an OhentPay account. 
• Add currencies and fund your account: OhentPay supports over 40 currencies, and you can choose as many as you want. Simply click on the currency logo you see beside ‘Total Balance'. You are taken to another page where you see a ‘plus’ button. Click that and select the currencies you want.
• Use the ’Send’ button: Click on the ‘Send’ button to start sending the money. You are taken to another page where you're to input the currency you are sending from, amount, recipient, and reference.
• Add recipient: Click on the 'Select Recipient’ button. If you haven't previously added the recipient, use the ‘plus’ button at the top right corner to add your recipient. Select their country and currency. A drop-down will appear for you to add more details of them.

Input their account name, Bank State Branch (BSB)/Bank Identifier Code (BIC), account number, recipient address, city, state, and zip code. Then click on ‘Add Recipient’ when you have filled in all these. Now go back to the previous page where you're to send the money. 

• Finish up: Select the recipient you have just added. You can also change the reference message to your choice, or leave it at the default “Sent from OhentPay” reference. Finish up by clicking the ‘Send’ button. 

Wrapping Up

To wrap up, it is best that you get all the needed information before you make your transfer. Don't be in a rush if you are not sure of the details, only to end up making mistakes. Confirm all the details of the receiver before hitting the 'send' command.

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 here to get started.

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