How do I transfer money from one account to another overseas?

How to Transfer Money from One Account to Another Overseas

Transferring money overseas can be a straightforward process when done correctly. Here’s a step-by-step guide on how to initiate international transfers within Online Banking:

1. Log into Online Banking: Access your online banking platform and sign in using your credentials.

2. Navigate to Payments: Locate the ‘Payments’ or ‘Transfer Money’ section within your online banking interface.

3. Select International Transfer: Choose the option labeled ‘International Transfer,’ ‘International Payment,’ or something similar.

4. Specify Destination Country: Select the country where you want to transfer the funds.

5. Choose Source Account: Indicate the account from which you want to debit the funds.

6. Set Payment Date: Specify the date when you want the transfer to be processed.

7. Select Currency and Amount: Enter the currency of the transfer and the amount you want to send.

8. Verify Details: Carefully review all the transfer details, including the recipient’s information, amount, and currency.

9. Add or Choose Payee: If you have not previously added the recipient to your payee list, click on the option to add a new payee. Otherwise, select an existing payee from your list.

10. Authorize Transfer: Once you are satisfied with the details, proceed to authorize the transfer. You may be required to enter a security code or use two-factor authentication for added security.

11. Track Transfer: You should receive a confirmation message or email once the transfer has been initiated. You can track the progress of your transfer within your online banking account or by contacting your bank.

Additional Tips:

• Check with your bank about any fees or exchange rate charges associated with international transfers.
• Ensure you have the correct account number and SWIFT code for the recipient’s bank.
• Allow sufficient time for the transfer to be processed, as international transfers can take several business days.
• Keep a record of your transfer for your records.