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Sending money internationally has been a matter of concern and is full of misconceptions. People often struggle with the process and remain fearful of the fact whether their money reaches its destination or not. However, with the advent of modern technology and online platforms, international money transfer has become easier than ever.
So, through this write-up, let's get an overview of the process for a better understanding and hassle-free money transfer across the world.
01
The process begins with signing up or logging in to the SterlingFX portal. If you're a new user, sign up, and if you're an existing user, log in with your credentials.
02
Next, you must enter the recipient details properly, including the names, account numbers, and necessary bank information.
03
To proceed, input your amount and choice of currency. We will convert the amount, and you can ' proceed.
04
Now you can confirm the payment method. You can choose among debit/credit, bank transfer, demand draft, etc.
05
Double-check all the details, including exchange rates and fees. Confirm the transfer to initiate the process.
06
After confirmation, you can track the status of your transfer through your SterlingFx account.
Services | Specialise in money transfer and currency exchange | Additional charges (Other than exchange rate and transfer fees) | Transfer amount |
---|---|---|---|
Bank transfer | None | Yes Bank overhead processing fees, overdraft fees, etc. |
Up to 50000 GBP |
Online money transfer services | Yes | Yes | up to £5000000 per transfer |
Digital wallet | Yes | Some platforms are entirely free to use. But the rest of the platforms include processing fees, credit card fees, etc. | No limit |
Cash pick up services | None | Yes | Up to 4000 GBP |
Not taking a service from an FCA-authorised service provider.
Not comparing the mid-market rates before choosing a service provider.
Do not use a strong password in your online bank account and money transfer service account.