International Money Transfers, Explained

Sending money to a bank account in another country looks simple: a name, a number, a button. Behind it is a chain of banks, codes and checks. Knowing how the chain works helps you avoid delays, surprise fees and rejected transfers.

How a transfer abroad travels

Most international bank transfers use the SWIFT network, a messaging system banks use to instruct each other. Your bank sends a payment message. If it has no direct relationship with the recipient's bank, the money passes through one or more intermediary (correspondent) banks first.

Each step can take time and each intermediary may take a fee. That is why the amount that arrives can be lower than the amount sent, and why a transfer can take one to five business days.

The codes you will be asked for

Code	What it identifies	Format	Used in
SWIFT / BIC	The bank (and often the branch)	8 or 11 letters and digits	Worldwide
IBAN	The account, including country and bank	Up to 34 characters	Europe, Middle East and others
BSB	Bank and branch	6 digits	Australia
IFSC	Bank branch	11 characters	India
ABA routing number	Bank	9 digits	United States
Sort code	Bank and branch	6 digits	United Kingdom
CNAPS	Bank branch	12 digits	China

Not every country uses every code. A SWIFT code is almost always needed. The local code depends on the destination country.

Why banks ask for an address and phone number

International transfers are screened for fraud, money laundering and sanctions. Banks therefore need to know who is receiving the money: full name, address, country of residence and sometimes nationality, phone number and the relationship between sender and recipient. Missing or mismatched details are the most common reason transfers are delayed or returned.

Fees: who pays what

Transfers usually carry one of three fee instructions:

• OUR: the sender pays all fees and the recipient should receive the full amount.
• SHA: shared. The sender pays their bank's fee; intermediary and receiving bank fees come out of the amount.
• BEN: the recipient pays all fees, deducted from the amount.

If the recipient needs an exact amount to arrive, ask which option is used.

Tips to avoid problems

1. Copy the recipient's details from their bank statement or banking app, not from memory.
2. Make sure the account name matches the name on the account exactly.
3. Use the correct local code for the country, such as BSB for Australia or IFSC for India.
4. Avoid sending close to weekends or public holidays in either country if timing matters.
5. Keep the transfer reference until the money arrives.

Withdrawing your Huzra balance abroad

Huzra can send your balance to a bank account in your name in most countries, from USD 100 equivalent. The app asks for each detail the bank needs and shows the estimated fee before you confirm. Details are in our Transaction Policy.