The complicated process of international money transfer involves exchange of information between the financial institutions, money transfer services, and the sender and the receiver. Depending on the mode of transfer, below is some basic information required from the sender (during both sending and receiving money) to fulfill the process
Information Required of the Sender:
- If you plan to send money via ACH transfer, your social security number, US bank account type, account number, and ABA routing number are required.
- If you plan to do wire transfer your bank account number and routing number are needed.
- If you plan to do online transfer 9-digit bank routing number of your bank is required.
- If you plan to pay via debit or credit card then details of those cards are required.
- If you plan to do a check transfer then details of your bank and recipient’s details are required.
Information Required from the Recipient:
- If you want to do a direct deposit to the recipient’s account, then the first name, last name, and address of the recipient and information of the recipient’s bank including account number, IFSC / SWIFT Code, and name and address of the bank branch are required.
- If you want to deliver the money to the recipient’s home via demand draft, money order, or prepaid card, then the recipient’s residence address and phone number are required.
- If you want the recipient to receive the money in cash then you have to choose the agent pick-up location prior to the transfer. The recipient needs to carry a proof of identity to collect the money.