People who live abroad often send money back to their relatives in their home countries in the form of remittances. Whether it’s to aid our loved ones back home or to pad their bank balance, the majority of individuals will utilise any accessible alternative for making overseas bank transfers. Fortunately, EziPay.africa is available to Transfer money to Nigeria at the cheapest and give directions on the opening of a bank account in a foreign country. A transaction known as an international bank transfer occurs when funds are transferred from a bank in one country to a bank in another country that is not the country of origin.
What is the meaning of money transfer between international banks?
When money is moved outside to a country that is not the same as the one from which it originated, the transaction is known as an international bank transfer. You are probably aware that overseas bank transfers may be used for several objectives, including the provision of the ability for the receiver to pay off obligations or engage in purely discretionary expenditure. If you are attempting to focus on saving up for a specific purchase, such as a home, you may even initiate a transfer to a personal account that you have in a different nation.
What information would I need to make a transfer between overseas banks?
When completing an international wire transfer, your service provider may need you to have the following materials to complete the transaction:
The beneficiary’s name, address, Swift/BIC code, and account number are required.
We strongly suggest using an EziPay account to make international money transfers easier, quicker, and less fraught with complications. Take into consideration the following for some pointers on how to make a wire transfer across international borders.
- You can download the EziPay app and set up a profile with it.
- You should provide a picture identification card issued by the government to verify your identity, and the receiver should do the same.
- Include the full name of the receiver, the account number, the SWIFT or IBAN, and the country code of the bank that the recipient uses to access their account.
- If the country you wish to send money to supports bank transfers as a method of payment, you should choose this mode of payment as your preferred alternative.
- You have your choice of many different payment methods, such as an online bank transfer, a debit card, or a credit card, among others.