Sending Large Transfers: What You Need to Know

Sending a large sum across borders isn’t the same as sending a smaller payment. Bigger amounts bring stricter verification, higher sensitivity to exchange rates, and closer attention to timing and costs. Whether you’re paying a supplier, buying property, or moving savings, this article explains how to keep your transfer compliant, transparent, and on time with MTFX.

Common challenges with large international transfers

Large transfers can run into avoidable issues, such as:

• Delays from additional checks or missing information
• Unexpected fees or poor FX rates
• Rate slippage between quote and settlement
• Rejections due to incorrect beneficiary details or missing documents

To prevent these problems, make sure you:

• Confirm transfer limits and cut-off times in advance
• Submit complete paperwork
• Verify IBAN/SWIFT codes and recipient details
• Use firm quotes or rate-lock options to protect against fluctuations

Documentation required for large transfers

For most providers, a “large” transfer is considered USD 10,000 or more (or the local equivalent). These transactions are subject to enhanced checks to meet anti-money laundering (AML) regulations. Be prepared to provide:

• Identity verification (KYC): A valid government ID and updated profile details
• Purpose of payment: A description of the transfer, plus any supporting documents
• Regulatory reporting: Information required for filings and compliance reviews
• Payment route visibility: Details that enable end-to-end monitoring and status updates

Tip: Large transfers can become more expensive if you accept poor exchange rates or hidden fees. Always request a firm quote and confirm all charges upfront.

The MTFX Advantage: As a FINTRAC-registered provider in Canada, MTFX ensures fully compliant processing, competitive FX rates, lower fees, and complete transfer tracking to help your funds arrive on time.

Steps to process large international transfers

• Check if your transfer exceeds the $10,000 threshold.
• Prepare your identification documents.
• Open and verify your MTFX account.
• Select your currency and destination country.
• Send your transfer at competitive FX rates.
• Track your transfer online until the funds are delivered.

Tips for managing large international transfers

With the right partner, moving significant amounts across borders can be smooth and cost-effective. Here’s how MTFX helps you stay in control:

• Secure competitive rates – Lock in bank-beating FX rates so you know exactly how much the recipient will receive.
• Use rate tools – Set automatic alerts or market orders to capture your preferred rate at the right time.
• Prepare documents – Keep photo ID, proof of funds, and payment details ready to avoid compliance delays.
• Plan around timing – Account for time zones and bank holidays; MTFX can advise on the best settlement windows.
• Spread risk if needed – For very large amounts, consider booking multiple transfers or scheduling in advance.
• Track with confidence – MTFX provides clear visibility across every stage of your transfer.
• Get expert guidance – Whether paying tuition, property costs, or supplier invoices, MTFX specialists can advise on the safest and most efficient route.

Still unsure about sending a large transfer? Don’t worry- it’s much simpler with the right support. With MTFX, your funds move quickly, securely, and at better rates- without the usual stress. Contact our customer support to learn more about large transfers.