The international money transfer system is used for various needs. This can be personal transfers to relatives and friends, payment of a hotel bill on the eve of a vacation or a fine for driving a car in the territory of another state. They pay for tuition in another country by transfers, help strangers in trouble. How to transfer money to another country? What you need to know if you send a translation for the first time? The nuances that must be considered when sending, the methods of international money transfers.
What are the translations
Classification is made by the method of departure:
1. Transfer to the client’s account. The easiest way, the commission on it is the lowest, the maximum delivery time is three business days.
2. Translation system. The transfer is carried out with the help of intermediary companies. Unlike the first method, there is no need for an account with the recipient. The commission on these transfers is higher, money usually comes faster than by bank transfer.
What you need when sending
The method of transferring to a bank account is used, as a rule, by those customers who send money, paying for something. The organization that provides the services invoices the customer. When sending a transfer, you will need this account (its second name is “invoice”) from the seller, your passport and money. Theoretically, you can send money through any bank, on which it depends in practice, we will consider below.
In order to send an international money transfer by an intermediary company, the client needs to check with the recipient the country and location. The exact surname, name and patronymic (if any) are indicated. Moreover, the name of the recipient must be indicated exactly as written in his passport (or a common passport, if there is a Latin transcription). As a rule, the sender provides the recipient's phone number so that he receives a code from the transfer. The sender is required a passport and money. If the sender is a non-resident of the Russian Federation, then documents that confirm the right to stay in the territory of the state (visa, registration, migration card) will be needed. In the absence of a passport, you can use a document replacing it (residence permit, sailor's passport, etc.).
Currency
Bank transfer is made in the same currency in which the account is opened with the recipient. As a rule, these are dollars or euros. It is better to attend to the exchange in advance, especially if this is a large amount.
Transfer systems do not accept currency at all points of departure. This question is best clarified in advance by the operator. Tell him the place of departure and he will say what currency they accept. The recipient can withdraw funds in the currency indicated by the sender. If you have rubles with you, and the recipient must withdraw dollars, the exchange will be calculated at the rate of the transfer system. The course is usually overvalued compared to the Central Bank of Russia. In order to save, it is better to exchange currency in advance.
Bank transfer details
It will be difficult for a newcomer to make a transfer on his own in the Internet bank. The first time is better to contact a banking specialist. Features of this type of translation:
• All operations of international money transfers in Russia pass currency control. If the sender is a resident of the Russian Federation and sends money to a resident of the Russian Federation abroad, it is necessary to provide documents confirming the close relationship of the sender and the recipient (birth certificate, marriage certificate, etc.). In other cases, translation is prohibited. If a non-resident of the Russian Federation sends it to a resident (or vice versa), there are no restrictions. If the sender is non-resident, and the receiver, too, then the maximum transfer amount is limited by each bank individually, as stipulated by the intra-bank instruction. The standard limit amount is $ 5,000 per day (another currency in the equivalent of this amount).
• All data from the invoice must be entered up to a character. The foreign account number does not look like the Russian number. To clarify the correctness of the set of details for the first time, it is better to make a transfer in a bank branch and save the receipt order as a template in the Internet bank. In the future, you can simply repeat the operation or take the template as an example of filling.
• It is advisable to send the transfer to the bank in which you are serviced, for example, to Sberbank. International money transfers require an open account, and possibly several if the currency is sent. Sometimes this procedure is not free, and takes a lot of time. If you are a regular customer of one of the banks, then at least you already have a current account.
• The amount of a one-time transfer to a legal entity is limited. The volume of the maximum possible transfer is best clarified in advance with a financial institution.
• After sending, the sender has a payment order and a cash receipt order. They are proof of sending money to the recipient. Delivery times are usually 3 business days.
• Successful passage of currency control will require the shortest and most capacious purpose of the payment. Phrase templates are usually included in the bank form, or you must register it yourself in English.
Below are the popular intermediary companies for international money transfers.
Western union / Western Union
One of the largest translation companies. Its history began 140 years ago. It appeared in Russia in 1991. The transfer fee depends on the country in which the recipient is located. Only the passport and the name of the recipient are required from the sender. The maximum amount of departure per day is $ 5,000. After the transfer is sent, a ten-digit Western Union international money transfer code is assigned, which must be communicated to the recipient. Check in advance if there is a pick-up point at the addressee's location.
Unistream / Unistream
It is not yet distributed in all countries of the world, but is one of the largest translators in the CIS countries. The commission is relatively small, from 1% of the amount. The system was developed as a subsidiary of Uniastrum Bank. Often used for international money transfers to Russia.
Contact
Russian international money transfer system. The owner is QIWI. You can receive a transfer in 170 countries of the world. The maximum amount of transfers in rubles is 350,000 per person per day, in foreign currency - 10,000 dollars. The commission is determined by the amount sent (on average 2% in rubles, 3% in foreign currency).
MoneyGram / "MoneyGram"
American company, a subsidiary of American Express. Exists in 200 countries of the world, specify the point of issue in the city of the recipient in advance. The commission for the transfer is 1% of the amount. The company often makes active offers on transfers to different countries of the world. The maximum system allows you to transfer $ 5,000 a day.
Anelik / "Anelik"
The international translation system operates in 90 countries. It is not used often, when sending, it is necessary to indicate the exact address for receiving funds from the ones proposed by the system. It features a low commission - 0.5% of the amount of departure. Currency of transfers: rubles, dollars and euros.
"Gold Crown"
One of the fastest international translation systems. The percentage is from 1% of the amount, depending on the country of the recipient and the volume of dispatch. In the Golden Crown, the maximum transfer limit per day is 600,000 rubles, 20,000 dollars and 15,000 euros for non-residents of the Russian Federation. After receiving the money, the sender receives a notification message.
"Blitz"
International money transfer of Sberbank. 1% of the amount is a commission, the transfer is made within an hour. There is a dispatch via Sberbank-online. It is issued only at bank branches, therefore it is distributed in the CIS. Upon receipt, you must name the code word coined by the sender. The new name for this system is Hummingbird (introduced in 2018).
Transfers to Ukraine
In the context of a tense political situation, a number of international money transfer systems stopped working in Ukraine. Before transferring money, check with the recipient for the possibility of receiving money at his destination. Periodically, systems resume operation. It is also problematic to send money by bank transfer, Ukrainian financial organizations do not miss transfers from Russia. Experts recommend transporting money in cash (this is a risky method, the commission of carriers is high). As an option, use virtual wallets for international transfers.
Error in transfer, refund
If an error was made in the name of the recipient when sending through the international translation system, then you can correct it in the department where the transfer was sent. If the transfer was not received by the addressee - on average in a month (depending on the system) the sender will be able to pick it up again. Transfer commission is non-refundable.
Finally
International money transfers are used by the population daily. For regular users of translation systems there is a special tariff for sending, regular customers clubs. Banks, in turn, are developing preferential terms for their customers. Wealthy people and those who transfer large sums are offered minimum tariffs and a preferential conversion rate. The choice of a system for sending an international money transfer depends on many factors: region of receipt, amount, currency. The set of individual conditions and the study of the proposals of translation companies will help to better understand which way is more profitable to send money. The sending conditions change, so before using the translation system, check with the operator for details.