It is really easy to send money to foreign accounts. This is because of the rapidly evolving technology. It is now possible for you to send money through any one of the following means:
- International money Order
- Cash transfer
- Wire Transfer
To transfer money into a foreign bank account is now a piece of cake. This can be done via wire transfer. This is really convenient for the recipient as it will not be required of them to travel to any specific place to get the money that you send. Once the first few days are through, the money will be in the account of the recipient.Given below is some intermediary bank information, particularly, the instructions to be followed to transfer money to a bank account. Read on in order to know more.
How To Transfer Money To A Foreign Bank Account
- The first and foremost thing that you have to do is collect information about the recipient. It will be required of you to collect the following details about the recipient.
- Name and address
- Bank account information
- Bank address
You may be required to include specific bank identifying numbers. Should this be the case, the bank representatives will be in a position to assist you in finding the requisite information. In certain instances, your money will go through an intermediate bank in which the money exchange is performed.
- The bank’s forms issued for a money transfer will have to be filled out. Your bank will have a particular form for you to fill. Make sure that you include all the necessary details.
- You must be specific about how much information, which you want to send. This can be done either in U.S. dollars or in the recipient’s currency.
- Finally, the bank fees have to be paid. A fee is charged by all banks for this service. The amount charged is around $40. This fee will have to be paid if you want to get the money transferred to you. Just remove the payment from the account when you transfer.
This much intermediary bank information will suffice for now. Follow these instructions duly and you will experience no difficulty when it comes to transferring money to a bank account. I hope you will be able to conduct such money transactions with ease from now on.
Sean Mckelvey on Google+