Looking to expand business internationally? Payment is a critical element of business in today’s interconnected world. And if you’re looking to keep your business flowing, look no further than these seven ways to pay internationally.
1. Automated Clearing House (ACH)
The most common method for sending international payments is ACH. This is also known as electronic funds transfer (EFT), and its used by banks and other financial institutions in the United States. ACH payments use electronic networks to move funds from one account to another, typically within the same country or region. This is usually the cheapest way of sending money internationally because there are no fees involved.
2. Pay Through An International Banking Network
If you have a Visa card or MasterCard, you can use it at any ATM around the world. Just ensure that your bank doesn’t charge any withdrawal fees when using another bank’s ATM. Especially if you travel internationally frequently and want to avoid paying those fees.
3. Send Money With Google Wallet
If you’re looking to send money internationally, look no further than Google Wallet. To send money, you need only three details – the recipient’s email address, the amount of money you want to transfer, and the currency you want to send it in. You can also include a personal note or greeting card if you’d like. The recipient will get an email notification when the transfer is complete and can then use the funds for any purpose.
4. Switch To An International Bank Account
If you’re going to be sending money internationally a lot or doing business with foreign clients, it may be worthwhile to change banks entirely. Some banks offer accounts that are tailored specifically for cross-border payments, and they can make the process much easier.
5. Transfer Money With Venmo
If you want to send money to a friend or family member, there’s no easier way than using Venmo. Once you link your bank account to the app, you can send funds to people who have linked accounts.
The service is easy to use but pretty expensive — just enter your payment amount and the recipient’s name in the “to” field, tap “request,” and then confirm it on their phone (or vice versa). The money will be transferred instantly and appear in both of your accounts almost immediately.
6. Send Money With Western Union
If you need to send money internationally, try Western Union! They offer quick and convenient transfers around the world, and they’re available in more than 200 countries and territories worldwide—you can even send money from a mobile device! The best part? No charges for receiving the receiving funds through Western Union. Charges apply for sending the funds. Services like currency exchange and bill payment are also subject to charges.
7. Use a Credit Card
Almost all of us regularly use our credit cards to pay for things, so why not use them to transfer money? It’s free and convenient. Just make sure to check with your credit card company first to see if there are any fees associated with international transactions.
8. Wire Transfer
It’s probably the most convenient way to send money overseas because it’s often free when done through a bank or other financial institution. It’s important to note that wire transfers take time — usually several days — so plan ahead if possible so that you don’t end up paying any additional fees for making last-minute changes!
TransferWise is a peer-to-peer money transfer service that allows you to send money internationally using local bank accounts.
TransferWise is an alternative to traditional bank transfers that can save you up to 8x more when sending money internationally. This means you can send your money from the USA and get the best exchange rates available without paying expensive bank fees.
There are many options available for transferring money internationally, whatever the payment type and whoever the receiver is. The trick is finding an option that works for you. With new trends like cloud technology, biometrics authentication, and mobile applications continuing to enter the marketplace, it’s an exciting time for international business owners. Always find out how much you’ll be charged, what exchange rate you’ll get, and how long the process will take regarding your international transaction processing. If you are looking for a payment processor that is powerful yet affordable, Payment Pilot is all you need. Let us know about your requirements and we will take it up from there.