How to Send Money to a Family Member in Another Country

It is easier than ever to transfer money between countries, whether you’re a business looking to receive funds from a customer, or an individual looking to send money to a family member somewhere else in the world.

There are many money transfer providers you can choose from, from retail banks such as Wells Fargo and HSBC, to dedicated international money transfer and currency exchange companies, such as Azimo, Tranferwise, and Western Union.

Note: When you send funds internationally, you should always check to make sure you are getting the best possible value. To make sure you are getting the best deal, check the rates offered by transfer services and then use a currency conversion tool like the one at to compare what the service offers to current currency rates.

This guide will walk you through how to send money via a high street bank or a money remittance company to family in another country. It will provide you with a broad comparison.

Sending funds via a money transfer company

First, you will need to create an account with the specific global money transfer company, which should only take a few minutes.

As part of the signup process, you will need to enter your name, address, phone number, and email address. You will then be asked to verify your phone number and/or email address. Many providers will also require you to verify your identity by uploading one or two pieces of ID and a proof of address.

Then, you can enter your recipient’s details, such as their name, location and address, and contact details, before deciding how much money you would like to send (at this point most platforms will display the explicit fees you will be charged.)

If you’re sending an unusually large sum of money, you may need to go through further verification as part of anti-money laundering measures.

Finally, you need to fund your transaction and can then hit send and will be notified when the funds reach your recipient.

Sending money via a bank

If you don’t yet have a bank account – or want to open a new account with another bank for better rates, for example – you can do this either at your local branch or online, depending on the specific bank and your location.

Once you have your account, you will need your recipient’s name, bank name, international bank account number (IBAN), and their BICs/SWIFT code.

Again, depending on your bank and location, you may or may not be able to log in to your online banking portal, input the details and the amount, and hit send. If your bank doesn’t offer online banking, you will need to visit your local branch.

Banks vs. money transfer companies

There are a number of critical differences that generally stand true when comparing retail banks to dedicated providers when it comes to global money transfers.

Firstly, banks typically charge a fixed fee on money transfers, which makes them usually more cost-effective for large transfers. However, as dedicated money transfer companies typically charge their fees as a percentage of the amount sent, they usually are much more cost-effective for low- and medium-sized global money remits.

As for spreads, both high street banks and dedicated transfer companies usually charge them on international transfers, though there are some exceptions to this rule, such as Transferwise.

A few options…

There are hundreds of dedicated international money transfer and currency exchange companies operating in today’s market. Popular and cost-effective global money remittance companies include Azimo, Transferwise, Payoneer, Western Union, TransferGo, and MoneyGram.

Quick Summary:

  • How to Transfer Money to a Family Member in Another Country
  • Individuals and companies may need to remit funds abroad for a host of reasons, including sending money to family.
  • High street banks and dedicated money transfer companies can both be utilized for this, though dedicated providers are usually cheaper unless the transfer is particularly large.
  • Both banks and dedicated global money transfer companies typically charge customers a spread on currency exchanges, though there are a few exceptions.
  • Sending money via either option is usually very straightforward. It can almost always be done from the comfort of your own home.
  • Popular money transfer companies include MoneyGram, Transferwise, Azimo, and Payoneer.

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