How to Send Money Overseas | Chase – Chase News & Stories

  • November 10, 2023
  • November 10, 2023
  • 9 min read

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If you’ve never sent money overseas to a friend or family member, don’t worry. There are steps to help you through the process. There are lots of reasons you may want to send funds abroad including reserving trip accommodations, paying for foreign services and of course, friends and family. So, let’s investigate how to send money overseas with guidelines and steps for each.
First, let’s explore some reasons why you may consider sending money overseas and the factors for each one.
You can send money to the people you care about most, just about anywhere in the world. Convenience often plays a crucial role in these cases. Work with your recipient to figure out the best way to receive money where they are located internationally. This could be through a local bank or a money transfer provider. Knowing how they want to receive the funds will help the transaction. After all, they’re in a foreign country, so they may not be up to searching for an out-of-the-way money transfer hub. Choosing a recipient hub that keeps your loved one’s location in mind can help you show them that they’re a priority. Contact your financial institution or wire transfer service to learn more about any limits or restrictions that may apply to sending an international wire transfer.
Staying overseas can take some pre-planning and, at times, pre-payment. Perhaps you found a short-stay rental or even a temporary home-share situation. In these cases, you may deal directly with a homeowner or leaseholder in a foreign country. That often means sending a cash deposit and then a final payment before you even get on the plane. Safe and secure money transfer options can help you send a prepayment without too much risk. So, you may want to look in to the security measures each service offers for sending money abroad.
Perhaps Aunt Gertie gave you a fancy coffee maker that can only be serviced in Italy. Or maybe you’ve got a vintage car and it needs a part that’s only found in Molsheim, France. These examples illustrate times when you may need to send funds abroad. When you’re selecting an international money transfer service for specialty services, communication and verification can be critical. After all, these are highly detailed transactions across quite a long distance. So, you may want to ensure the service you choose offers clear communication throughout the funds transfer process.
Learning abroad can offer global networking opportunities as well as skills and knowledge. Whether you’re seeking a certification in therapeutic massage in Peru or booking a conference on the latest innovations in Tokyo, you may need to send money abroad to cover tuition. Some kinds of tuition can be paid in ongoing installments. When you’re considering sending money overseas, work with your financial institution or wire transfer service to have a better understanding of transaction fees and potential exchange rates that can impact the overall cost of the service.
No matter why you decide to use an international money transfer service, here are some factors that may be worth considering before making your decision:
It can help the transaction for you and your loved one if both parties have an understanding about the transfer process. Contact your financial institution or wire transfer provider for more information on any limits or restrictions that may apply to sending a wire transfer.
Each type of transfer for sending money overseas requires specific information. Some of the data you’ll need to have on hand includes:
The service provider you choose may have fewer or additional required items. In either case, it might help to make a checklist based on these as listed by your provider. That way you can check them off and maintain order.
Here are a few ways that you may be able to send money overseas. You can transfer funds from your bank branch in person, send money from your desktop computer or use an app on your mobile device. Be sure to check with both the sending and receiving bank or transfer service for more information.
Be sure to check with both the sending and receiving bank or transfer service for more information.
Whatever method you choose, there are a few key considerations to keep in mind when conducting an international money transfer to help keep things running smoothly and according to plan.
These steps can help you both prepare and follow through with sending money overseas. It may expand your horizons a bit to discover how easily you can send these funds. Whether you’re helping friends and family or serving your own interests, all it takes is a bit of preparation and paperwork to reach across the globe and make a connection.
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