Sending money abroad should be fast, affordable, and easy to manage if you’re supporting family, paying for services, or transferring funds between countries. Choosing the right international money transfer method can help you save money and avoid unnecessary delays.
There are several ways to send money internationally, including traditional bank transfers, online payment platforms, and dedicated cross-border money transfer services like Accrue. Each option has advantages and drawbacks depending on transfer fees, exchange rates, speed, convenience, and the recipient’s location.
In this guide, we compare the most common ways to transfer money internationally so you can choose the option that works best for your needs.
What Is the Best Way to Send Money Abroad?
The best way to send money internationally depends on what matters most to you. Some people prioritise low fees, while others need faster delivery, flexible payout options, or a simple mobile experience.
For many cross-border transfers, a dedicated money transfer service like Accrue can be a better choice than using a traditional bank or a general online payment platform. Accrue is designed to make international money transfers easier, especially for people sending money across Africa and the US.
1. International Bank Transfers
International bank transfers are one of the oldest and most familiar ways to send money overseas. Banks usually move money between countries through secure international banking networks such as SWIFT.
This option is often used for formal payments, large transfers, or direct bank-to-bank transactions. However, bank transfers are not always the cheapest or fastest way to send money internationally.
Pros of International Bank Transfers
- Widely available through most major banks
- Secure and familiar for many senders
- Suitable for formal bank-to-bank transactions
- Often used for large international payments
- Can be useful when the recipient only accepts bank deposits
Cons of International Bank Transfers
- Transfer fees can be expensive
- Exchange rates may include hidden markups
- Transfers can take several business days
- Recipient bank details are usually required
- Additional intermediary bank fees may apply
- Less convenient for recipients without easy access to banking services
2. Online Payment Platforms
Online payment platforms make it easy to send and receive money digitally. These platforms are commonly used for everyday payments, online purchases, bill splitting, and quick domestic transfers.
While convenient, they are not always designed specifically for international money transfers. Depending on the platform, users may face higher fees, weaker exchange rates, account limits, transaction holds, or verification delays.
Pros of Online Payment Platforms
- Easy to use from a phone, tablet, or computer
- Convenient for quick digital payments
- Useful for everyday personal or business transactions
- Often simple to set up for local transfers
- Good for users who already have verified accounts
Cons of Online Payment Platforms
- International transfer fees can be high
- Exchange rates may not be competitive
- Transfers may be delayed by account reviews or holds
- New or unverified accounts may face sending limits
- Not always ideal for one-time international transfers
- Recipient options may be limited depending on the country
- Some platforms are better suited for local payments than cross-border transfers
3. Dedicated Money Transfer Services Like Accrue
Dedicated money transfer services are built specifically to help people send money across borders. Unlike traditional banks or general payment apps, these services focus on international transfers, speed, cost, exchange rates, and payout flexibility.
Accrue helps users send money internationally with a simpler and more convenient experience. It is especially useful for people who want to send money across supported countries in Africa and the US without relying only on slow bank processes.
Pros of Using Accrue for International Money Transfers
- Built specifically for cross-border money transfers
- Can be faster than traditional international bank transfers
- Offers a more convenient transfer experience
- Supports international transfers across supported routes in Africa and the US
- Useful for sending money to family, friends, or business contacts
- May offer flexible payout options, such as bank accounts and mobile wallets, where available
- Easy to start transfers online or through the mobile app
- Helps users avoid the complexity of traditional overseas bank transfers
Cons of Using Accrue for International Money Transfers
- Availability depends on supported countries and transfer routes
Accrue vs Banks vs Online Payment Platforms
Choosing between a bank, an online payment platform, and Accrue depends on your transfer needs.
Banks may be suitable for formal or large bank-to-bank payments, but they can be slower and more expensive. Online payment platforms are convenient for digital transactions, but they may not offer the best value for international transfers.
Accrue is designed for cross-border money movement, making it a strong option for users who want speed, convenience, and flexibility.
Why Choose Accrue to Send Money Internationally?
Accrue makes international money transfers simpler for people who need to move money across borders. Instead of dealing with complex bank processes or platforms that aren’t optimised for international transfers, Accrue gives users a simple way to send money to supported destinations.
With Accrue, you can send money for personal, family, or business needs while enjoying a transfer experience designed around convenience and accessibility.
Before completing any international money transfer, always review the total cost, exchange rate, payout method, and expected delivery time.
FAQs About International Money Transfers
What is the best way to send money internationally?
The best way to send money internationally depends on your priorities. If you want a familiar bank-to-bank process, a traditional bank transfer may work. If you want a faster and more convenient cross-border experience, a dedicated money transfer service like Accrue may be a better option.
Is Accrue good for international money transfers?
Yes, Accrue is designed to make international money transfers easier across supported routes. It can be a strong choice for users who want a convenient way to send money across Africa and the US.
How long does an international money transfer take?
International transfer times vary depending on the provider, destination country, payment method, and payout option. Traditional bank transfers can take several business days, while dedicated money transfer services may offer faster delivery depending on the route.
How much does it cost to send money internationally?
The cost of sending money internationally depends on the amount, destination, transfer method, exchange rate, and provider fees. Always check the transfer fee and exchange rate before confirming your transaction.
Do I need a bank account to receive an international transfer?
Not always. Some transfers require a bank account, while others may support mobile wallets or other payout options, depending on the provider and country. With Accrue, available payout methods may vary by destination.
What information do I need to send money internationally?
You usually need the recipient’s name, country, and payout details. If you are sending to a bank account, you may need the bank account number and other banking information. If you are sending to a mobile wallet, you may need their phone number or wallet details.
Send Money Internationally with Accrue
The best way to send money internationally is the method that gives you the right balance of cost, speed, convenience, and reliability.
Traditional banks may work for some transfers, but they can be expensive and slow. Online payment platforms are convenient, but they may not always be ideal for cross-border transfers. Accrue offers a simpler alternative for users who want a dedicated international money transfer experience across supported routes.
Make your next international money transfer with Accrue and enjoy a faster, easier way to move money across borders.
I’ve lived many lives, but one lesson ties them all together: money is only as powerful as its utility. Through my work, I share stories about money and create guides for Africans who want to get the best out of theirs.