Sending money abroad doesn’t have to be complicated. Whether you’re helping family back home, paying international bills, or managing business overseas, knowing how international wire transfers are processed and what’s the difference to a money transfer can be useful. This guide will walk you through the steps clearly, so you can send money from the UK with confidence and less stress.
Key Takeaways on international wire transfers by banks
- An international wire transfer lets you send money electronically from the UK to another country using bank networks and SWIFT/BIC codes. It’s useful for remittances, tuition payments, or overseas business transactions.
- You’ll need accurate recipient details including full name, bank name and address, account number or IBAN, and SWIFT/BIC code to avoid errors or delays.
- Consider alternative methods and providers to optimize costs, speed and convenience. While traditional banks offer international wire transfers, other services like Western Union might be a suitable alternative.
- Transfer costs and timing vary based on the banking provider, destination, currency, and delivery speed. Bank transfers can take 2 to 5 days.
- Always use regulated payment institutions and providers authorised by the FCA to ensure your money and information are protected. Avoid unverified services that may pose risks.
- Common mistakes include entering incorrect account details, ignoring fees or exchange rates, and using unregulated platforms. Double-check everything before sending to ensure a smooth transfer.
What Is an International Wire Transfer?
An international wire transfer is when you send money electronically from a UK bank account to someone’s bank account overseas. It moves through a network of banks, often using a SWIFT or BIC code to make sure the funds reach the right place.
When Do You Need an International Wire Transfer?
There are many reasons people send money internationally. You might be:
- Sending regular remittances to loved ones abroad
- Paying overseas tuition or rent
- Making business payments to suppliers or freelancers
- Handling financial matters across different countries
Wire transfers can be a reliable way to send money abroad. through your bank If the person you’re paying doesn’t have access to other transfer options, a wire transfer is often the most reliable method.
Step-by-Step Guide to Doing an International Wire Transfer
Once you understand how to send international payments, the process becomes much more straightforward. Here’s a step-by-step guide to walk you through it from start to finish. Each part is important to avoid delays or failed transactions.
Step 1 – Gather recipient details (name, bank details, SWIFT/BIC)
Start by collecting all the necessary information from the recipient. You’ll need:
- Full name (as it appears on their bank account)
- Bank name and address
- Bank account number or IBAN
- SWIFT or BIC code (this helps route the money correctly)
Double-check everything to avoid sending money to the wrong account. One small error could delay the transfer or result in it bouncing back.
Step 2 – Choose your transfer provider (bank vs Western Union)
You have a few options when deciding how to send your money. Some people use their high street bank to send a wire transfer, but you can also use Western Union. Additionally Western Union also offers other transfer methods you might want to consider. For example, Western Union offers to send cash in minutes* with cash payout at a Western Union location abroad. Depending on your situation you can pick the most suitable option.
Here’s how they compare:
- Banks: Reliable, but usually only bank-to-bank transfers available
- Western Union: Reliable, flexible payment and deliver methods available
- Online-only apps: Not always regulated, but might offer lower fees
Pick the provider that best suits your needs, budget, and delivery time expectations.
Step 3 – Enter transfer amount and currency
Next, choose how much money you want to send and the currency your recipient will receive. This is especially important if their account doesn’t accept certain currencies. Some providers, like Western Union, allow you to preview exchange rates and the final amount your recipient will get, very helpful for budgeting. Depending on the provider and country, delivery times can vary, and knowing exactly how long international bank transfers take can help you choose the right method upfront.
For example, if you’re sending £500 to India, you’ll see how much they’ll receive in INR before completing the transfer.
Step 4 – Confirm fees and exchange rate
Before hitting send, review the money transfer fees and exchange rate. This can vary depending on:
- The provider you use
- The country you’re sending to
- The currency being exchanged
- The speed of delivery (same-day or standard)
Western Union offers upfront pricing and a handy calculator to help you know the total cost in advance. That way, there are no surprises after you’ve completed the transaction.
Step 5 – Review and send
Take a minute to review all your details again. Make sure the names, account numbers, and amounts are all accurate. Once you’re happy, confirm and send, Western Union also gives you a tracking number so you can follow your transfer in real time.
How Long Does an International Wire Transfer Take?
Transfer times can vary depending on different factors. In general, a wire transfer may take 2 to 5 working days, especially if there are intermediary banks involved. Instead, you might consider using a different payout method. With Western Union you can also send transfers for cash pickup which arrive in minutes*, even across borders.
Here are a few factors that affect timing:
- Destination country
- Currency used
- Local banking hours
- Time zone differences
Exactly how long wire transfers can take can depend on factors like destination, currency, and whether you’re using a bank or a money transfer service.
What Are the Fees for International Wire Transfers?
There isn’t a one-size-fits-all answer to this. International wire transfer fees vary based on:
- Your provider (bank vs transfer service)
- Destination country and currency
- How you fund the payment (e.g. bank transfer, credit card)
- Delivery speed
Western Union is transparent about its fees. You can use our online tool to check the total cost before sending, including the exchange rate and any charges. This helps you compare options and make an informed choice.
Security and Reliability of International Transfers
Wire transfers from the UK are regulated by the Financial Conduct Authority (FCA), which sets strict rules for how your money is handled. All legitimate providers must follow these standards to help protect your money and information. If you plan to transfer money internationally, choosing a provider that meets these regulations is essential for peace of mind.
It’s also smart to avoid services that aren’t authorised or don’t have clear customer support options. Unregulated providers can pose serious risks, especially when sending large amounts. Trusted services like Western Union offer the transparency and reliability needed for cross-border transfers.
Why Choose Western Union for International Money Transfers?
Western Union helps millions of people send money across borders each year. We support transfers to over 200 countries and territories, offering flexible ways to send and receive money. You can transfer money online, in person, or through our mobile app, whatever works best for you.
Reasons customers trust Western Union:
- Fast delivery, transfers for cash pickup arrive in minutes*
- Options for cash pickup, bank deposit, or mobile wallet
- Transparent tracking from start to finish
- Over 170 years of experience
Whether you’re sending £100 or £1,000, you can count on us to deliver with reliability.
Common Mistakes to Avoid When Sending Money Abroad
Even small mistakes can delay or cancel your transfer. Watch out for these common issues:
- Typing the wrong account number or SWIFT/BIC code
- Forgetting to check fees or exchange rates beforehand
- Using an unregulated or unknown provider
Imagine sending funds to help a relative, only to find out the bank info was entered incorrectly. That’s why it’s worth taking a few extra minutes to double-check everything. To transfer money abroad, always use a trusted platform with clear instructions and customer support.
Final Thoughts: Making International Transfers Easy
Once you understand the steps in how to do international wire transfer, it becomes part of your regular financial toolkit. You don’t need to be a money expert to send funds globally, just follow the steps and pick a provider that fits your needs. If you’re looking into how to send international payments, Western Union offers flexible options that suit your needs and budget.
FAQs
What details do I need for an international wire transfer?
You’ll need the recipient’s name, their bank account number or IBAN, and the bank’s SWIFT/BIC code. Sometimes, you’ll also need the bank’s full address and the recipient’s home address. Always double-check everything to avoid delays or failed transfers.
How much does an international wire transfer cost from the UK?
The cost depends on who you use, where you’re sending money, and how fast you want it delivered. Western Union offers a fee calculator to help you find the best option. Always check fees and exchange rates before sending.
How long does it take to send money abroad by wire transfer?
A bank transfer can take 2 to 5 days depending on the destination. Timing can vary based on the country, currency, and provider.
Is it safe to send money internationally by wire transfer?
When you use a regulated and trusted provider, international wire transfers are a reliable way to send money. Always use companies authorised by financial regulators like the FCA. Avoid sending money through unfamiliar or unverified services.
Can I do an international wire transfer online in the UK?
Yes, you can. With the online banking function of your bank. But also, providers like Western Union allow you to make transfers online from your desktop or mobile device.
* Transfer speed and fund availability may be affected by factors such as service choice, amount, destination, currency, regulations, ID requirements, and system availability of our banking partners. Not available for all transactions. See Terms for details.
