April Summers

SWIFT Calculator

A Guide to Travel Money Cards

Travel money cards are a popular payment method for individuals headed abroad. Customers will load funds onto the card, using the money as foreign currency when overseas, much like a debit card is used at home. Also known as travel money prepaid cards or currency cards, they facilitate free foreign transactions and overseas ATM withdrawals.

What is a SWIFT Transfer?

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications which is a member-owned cooperative network designed to improve the communication of financial transactions. The network was set up in 1973 to support electronic international wire transfers.

SWIFT Code vs IFSC Code

You may have been prompted for a SWIFT or IFSC code in the past, depending on the requirements of your overseas transfer, but when is this information needed? We investigate.

Sort Code vs SWIFT Code: Which One Do You Need for Your Transfer?

Money can be transferred in a multitude of different ways: from paying a vendor for goods and services, to using a mobile app to send funds to a friend; and some transactions require more information than others. Unlike a contactless purchase in a restaurant or store, arranging a money transfer from one country requires specific details.

SEPA vs SWIFT code

Customers sending funds to a foreign country may choose to arrange a money transfer over the phone, online or in person. Regardless of the method used to set up the payment, customers are likely to encounter references to “SEPA” and “SWIFT.” For many people, this terminology will be alien to them, so in this guide we hope to explain the meaning and provide context for both terms.

How do SWIFT payments work?

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications and these kind of payments refer to transactions processed via the SWIFT network. Payments can range from direct deposits to international bank transfers, all of which are transported via SWIFT's global financial messaging network.

What are P2P (Peer-to-Peer) Payments?

Typically executed online through a money transfer provider website or mobile apps, peer-to-peer transactions facilitate the sending of funds from one person to another, via the internet or mobile network.

A Guide to Travellers Cheques

The history of the travellers cheque spans as far back as 1772 when the first of its kind was issued by the London Credit Exchange Company, in the UK. Over the coming centuries the concept became popularised on a global scale, with major banks and financial institutions adopting this form of travel money in the 20th century. American Express became the largest issuer of travellers cheques and continues to offer these services to customers to this day.

International Wire Transfers

The goal of international wire transfers is the quick transfer of funds, eliminating the delays caused by mailing and clearing of checks.

How to Avoid Bank Charges For International Transfers

High street banks and other traditional financial institutions are known for charging a great deal for international money transfer services. Whether you need to make a one-off payment or set up regular currency transfers, it is worth considering the two following bank charges first:

IBAN vs Account Number

Made up of alphanumeric characters, an IBAN can be no more than 34 characters long. Here's how it looks:

What is an IBAN generator?

IBAN generators are widely available on the internet, but how do they work? In terms of functionality, an IBAN generator is similar to an IBAN calculator in so much as they can both be used to convert alternate bank details into International Bank Account Numbers (IBAN). Thanks to special software which has been developed to calculate the details needed for an international money transfer, to remove the chance of errors or delays.

Converting IBAN to BIC

However, if you need to find your BIC number using IBAN, you can do one of the following:

Free IBAN Checker & Validator

You would need to use an IBAN checker in several scenarios, mainly related to international transfers to ensure the accuracy and validity of IBANs. Here are some common situations:

SendWave

Sendwave is an international money transfer service that focuses on remitting money from the US and Europe to Africa, Asia, and the Americas. The app-based company is constantly expanding their global coverage and endeavors to maintain zero transfer fees. This review of Sendwave will evaluate the quality, speed, cost and customer support, presenting specialist alternative operators in any cases where the company falls short of industry standards.

Caribe Express

Caribe Express offers money transfer services within, to, and from, the Dominican Republic. The service is a part of a broader financial services company that offers document support as well.

BoxyPay

Is BoxyPay worth it? Probably not, as there are many better alternatives such as Wise, WorldRemit, Nala, or Paga.

VFX Financial

VFX Financial (formerly VoltrexFX) is a UK-based foreign exchange and global payments services provider that caters for both individuals and businesses. Since its founding in 2001, the company has grown to support cross-border transfers to over 200 countries in 63 currencies.

VertoFX

VertoFX is a B2B money transfer service that was developed in response to data that indicates almost 50% of businesses that send money overseas are generally unsatisfied with the exchange rates and transfer speed of their current payment provider. The company has made it their mission to fix this problem by simplifying cross-border transactions for businesses. In this review, we will explore the functions, features, and other finer details of VertoFX international transfers.

TransferMate

This review will look at the exchange rates and fees, available payment methods, transfer speeds, customer feedback, and everything else you need to know.

Smart Currency Exchange

This review will tell you all you need to know about Smart Currency Exchange, so you can decide whether this is the right money transfer service for you.

Small World

Alternatively, use the button below to find the best service for your needs.

Remit2India

You can also use our form below to find the best deal on money transfer to India based on your needs.

Post Office

In this review, we will be focusing on Post Office International Money Transfers: the exchange rates, fees, payment processes, and everything else you need to know about arranging international remittances through the Post Office.

Pangea

Derived from the Greek term, “pangaia” which means “all the Earth,” the name of this money transfer company is very fitting as it continues to work towards becoming a globally accessible remittance operator.

NALA

The key areas of our NALA review are the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

Orlandi Valuta

Alternatively, use our form below to find the right money transfer service for your needs.

Halo Financial

With over 15 years of experience in the industry, Halo Financial has built a reputation as a trusted authority in the industry; but does it tick all the boxes?

MoneyCorp

Moneycorp is a UK-based international payments and foreign exchange company that offers customised services to individual clients, online sellers, sole traders, and large corporate institutions. The provider blends industry expertise and cutting-edge technology to enable its customers to save money and make fast cross border payments.