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Sending money outside the UK: top tips

Whether you’re sending money to a loved one or you’re paying for something outside the UK, there are a few things to consider. Here are some tips to help ensure it’s a smooth process.

How to send money outside the UK

You can send money overseas via:

  • a bank
  • building society
  • high street firms 
  • foreign exchange brokers

You may need an account with some providers in order to transfer money outside of the UK. There may also be fees for sending, or receiving, the money so it can be useful to check this before sending any money.  

You can transfer your money using:

  • bank transfer
  • debit card
  • credit card 

Other services may offer different methods for transferring money outside the UK. Take some time to find the right one to suit your circumstances. For example, if you’ll need to send money regularly, you may want to look for a service that allows you to do reoccurring payments – like a bank transfer.

Is it safe to send money outside the UK?

It pays to be careful when sending money outside the UK. Be sure to take some time to find the right international money transfer service so you can feel confident your money is secure and will arrive safely. 

Always check that the company is Financial Conduct Authority (FCA) authorised. You can check a company's status on the Financial Services Register.

If you’re sending someone an international payment through your HSBC online banking for the first time, we’ll ask you to authorise your payment using your Secure Key. This added level of security verifies your credentials and increases your security against possible fraud.

How to send money between global accounts

If you have bank accounts located in different countries, you may need to transfer money between them. This could be a regular occurrence or a one-off, but it’s worth noting that there may be a fee for doing this with some providers.

HSBC Global View and Global Transfers lets you transfer money between globally linked accounts without a fee. You’ll also be able to see your eligible international accounts in one place and set up reoccurring payments, if needed.

Tips for sending money outside the UK

1. Make sure the service offers the coverage you need

If you know you're going to be sending money outside the UK to several different countries, it may be convenient to use one service that covers all of them.

For example, HSBC's international payments service enables you to send money to over 150 countries.

2. Check exchange rate information and fees

Exchange rates can fluctuate quickly, so check the information you’re shown on websites is up-to-date. It’s important you input the exact amount you're looking to send as this may affect the rate you're offered.

It’s also a good idea to check if there are any fees or charges for sending, or receiving, the money. Fees may vary between money transfer services and for the amount you’re wanting to send.

3. Learn the jargon

There may be some terms you’re not overly familiar with when it comes to sending money abroad, such as IBAN and (BIC)/SWIFT Code. Getting to know these terms and what they mean may help make sending money overseas easier. 

Explore more: Sending money outside the UK: key words and definitions

4. Be organised around regular and future payments

If you're going to be sending money outside the UK regularly to the same person, you could consider setting up a recurring payment so you don’t have to manually send the money every time. 

You may also be able to set up future payments so you don’t forget to make a one-off payment you know is coming up.

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