How to Transfer Money Overseas: Best Methods 2025

Sending money to loved ones or for business purposes across borders has become a common necessity. However, navigating the world of international money transfers can be confusing, with varying fees, exchange rates, and transfer times. Making the right choice can save you a significant amount of money and ensure your funds arrive safely and on time. While many services facilitate these transfers, managing the funds for them is another challenge. Modern financial tools like Gerald can provide the flexibility you need. Understanding how Gerald works reveals a new way to manage your finances without the stress of fees, making it easier to handle expenses like overseas transfers.

Understanding International Money Transfers

An international money transfer is the process of sending funds from one country to another. People use these services for various reasons, including supporting family, paying for education, managing investments, or conducting business. Before you initiate a transfer, it's crucial to consider several factors. The most important ones are the transfer fees, the currency exchange rate, the speed of the transfer, and the security of the service. A small difference in the exchange rate or a hidden cash advance fee can mean less money arrives at the destination. According to the Consumer Financial Protection Bureau, providers must disclose certain information before you pay, giving you the power to compare and choose the best option.

Traditional Methods: Banks and Wire Transfers

For decades, traditional banks and wire transfer services were the primary options for sending money abroad. While they are established and generally secure, they often come with significant drawbacks that can make them less than ideal in 2025.

Bank-to-Bank Transfers (SWIFT)

Sending money directly from your bank account to a recipient's account in another country is a common method. These transfers typically use the SWIFT network, a secure messaging system used by banks worldwide. The main advantage is security, as you are dealing with established financial institutions. However, the disadvantages are notable. Bank transfers can be slow, taking several business days to complete. They also tend to have high transfer fees and less competitive exchange rates compared to modern alternatives. These costs can add up, especially for frequent or large transfers.

Classic Wire Transfer Services

Companies like Western Union and MoneyGram built their reputations on extensive global networks that allow for cash pickups in remote locations. This accessibility is their biggest strength. If your recipient doesn't have a bank account, these services can be a lifeline. The downside, however, is the cost. These services are often among the most expensive, with high fees and exchange rate markups. While convenient, it's wise to explore other options if cost is a primary concern. For those needing funds quickly, considering a quick cash advance from an app could be a more affordable way to cover the transfer cost itself.

Modern Alternatives for Overseas Transfers

The rise of fintech has introduced a new wave of digital services that are revolutionizing how we transfer money overseas. These platforms often provide a faster, cheaper, and more user-friendly experience than their traditional counterparts.

Online Money Transfer Platforms

Digital-first companies have streamlined the process of sending money internationally. They typically offer lower fees and much better exchange rates by operating with lower overhead. These online platforms are often the cheapest way to send money. Transfers can be done entirely online or through a mobile app, offering unparalleled convenience. Many offer an instant transfer or same-day service, which is a significant improvement over the multi-day wait times of traditional banks. You can get an online cash advance to cover your needs and then use one of these low-cost services.

How Financial Flexibility Apps Can Help

While apps like Gerald don't directly process international transfers, they play a crucial role in empowering you to afford them. Unexpected needs to send money can strain any budget. Instead of turning to high-interest credit cards or payday loans, Gerald offers a fee-free cash advance. By providing instant access to funds without charging interest or fees, Gerald gives you the financial breathing room to use the best transfer service for your needs without worrying about debt. This is especially helpful for gig workers or anyone with a fluctuating income who needs a reliable financial safety net.

Key Factors to Compare When Choosing a Service

To ensure you're getting the best deal, always compare these key factors before committing to a transfer. A little research can lead to big savings.

Transfer Fees: Some services charge a flat fee, while others charge a percentage of the transfer amount. Look for transparent fee structures with no hidden costs. A zero transfer fee is ideal but rare in international transfers.
Exchange Rates: This is often where companies make their money. Compare the rate offered to the mid-market rate, which you can find on reliable financial news websites or currency converters. The smaller the margin, the more money your recipient gets.
Transfer Speed: How quickly do you need the money to arrive? Services can range from instant transfers to several business days. An instant cash loan in 5 minutes can help you fund a fast transfer when time is critical.
Security and Regulation: Only use services that are properly licensed and regulated. This protects your money and personal information. A secure cash advance app like Gerald can help you manage your finances safely.

How Gerald Helps You Manage Transfer Costs

Managing your finances wisely is the first step toward handling any expense, including international transfers. Gerald is designed to promote financial wellness by eliminating unnecessary fees. Unlike other apps, Gerald has no subscription costs, no interest, and no late fees. To access a zero-fee cash advance, you first make a purchase using a Buy Now, Pay Later advance in our store. This unique model allows us to offer powerful financial tools for free. Whether you need a small cash advance to cover a transfer fee or a larger amount for an emergency, Gerald provides a responsible way to access funds when you need them most.

Frequently Asked Questions (FAQs)

What is the cheapest way to send money internationally?
Typically, online money transfer platforms offer the lowest fees and best exchange rates compared to traditional banks and wire services. Always compare a few options before making a transfer.
How long does an international money transfer take?
Transfer times vary widely. Some online services offer instant or same-day transfers, while traditional bank transfers can take 3-5 business days or longer.
Is it safe to send money online?
Yes, as long as you use a reputable and regulated provider. Look for services that use encryption and have strong security measures in place to protect your data and funds.
What information do I need to send money overseas?
You will generally need the recipient's full name, address, bank name, and account number (such as an IBAN for Europe). For cash pickups, you'll just need their name and location.

Disclaimer: This article is for informational purposes only. Gerald is not affiliated with, endorsed by, or sponsored by Western Union and MoneyGram. All trademarks mentioned are the property of their respective owners.