Why does it take longer for certain companies to send money overseas?
Remittance companies are regulated by government regulations. Some companies like TransferWise can take up to 5 -8 business days to transfer money overseas because of the strict verification process. these companies are regulated by FCA regulation, which means that the companies are responsible to check individual's details, verify their identity and address before proceeding further to the actual transfer transaction. Once verifed, the next subsequent transfers do not take that long.
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Money Transfer FAQ's
