How to Send Money Abroad and Make International Payments?

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Our customers regularly save thousands of dollars when making international payments. Join them to enjoy more savings, and send money abroad quickly and easily with MTFX.

Today you can move your money across borders and exchange currency easily. It all comes down to which provider you use.

With MTFX, you get specialist international money transfer services and a personalized cross-border payments experience. Our team of experts knows all about foreign exchange and global payments.

It’s the only service we offer, so we have perfected our business model to provide a sophisticated suite of solutions for overseas transactions.

Money transfer without borders – let us show you the best way to do it.

International Payments without Borders

Send Money Abroad to Bank Accounts around the World

MTFX lets you send 100+ currencies to over 200+ countries. Our “money transfer without borders” service is relied on by customers looking to send money from Canada quickly and safely without breaking the bank. Here’s a snapshot of how it works.

Currency exchange rate● MTFX offers bank-beating exchange rates on every international payment.
Transfer fees● Our margins are razor thin, so you can convert your currency at the lowest transfer fees.
Payment method● You can fund your account via bill payment or bank transfer when sending money abroad online.
Required information● Beneficiary name, address, and account number 
● Bank name, address, and Swift code 
● Reason for transfer
Transfer speed● Transfers typically take 24-48 hours. Same day transfers are also available.
Transfer limits● There are generally no limits to the transfer amount for most currencies.
Receive method● The money is converted into the chosen currency and sent directly to the recipient’s bank account.

Three Critical Factors that will Increase the Value of your Money

If you’re sending money abroad or making an international payment, you have to be smart about it to make your money go further. Consider the following three factors and ensure they’re optimized to minimize currency conversion losses.

1. Great Exchange Rates

The currency exchange rate is the most significant factor affecting how much your money is worth. The mid-market rate, also called the interbank or standard exchange rate, is the true value of your money when you convert it to another currency.

However, it’s not the rate you usually get when you use banks and other traditional money transfer providers. Due to exchange rate markups, these providers have more expensive pricing than a specialist transfer service like MTFX.

MTFX offers the mid-market rate, and we are big on FX rate transparency. Our competitive exchange rates will ensure your recipient gets more money and you keep more of your hard-earned cash.

We provide the kind of value for your money every sender is looking for.

  • Want to check the exchange rate for a particular currency pair? 
    The MTFX rate calculator and currency converter shows what you need to know. Use it now to make an informed decision before initiating your next transfer.

2. Low Transfer Fees

Besides exchange rates, another cost to keep an eye out for is the transfer fee. While low transfer fees are attractive, ensure they’re not hidden within the exchange rate you receive.

That means you should always take no-fee transfers with a grain of salt. The good news is that MTFX offers the best exchange rates AND lowest transfer fees.

We are an online nonbank provider, and our simple, transparent fee structure is a refreshing change from the multiple and confusing deductions made by banks. With MTFX, you always pay what you expected to pay in the end.

Learn more: How to get low-fee international transfers.

3. Risk Management

Exchange rates are always moving. The rate you get depends on the mid-market rate available during your currency conversion.

Since exchange rate fluctuations are driven by various reasons, such as political events, interest rates, and inflation rates, it’s easy to feel like you’re at the mercy of the market.

But you can still maximize your money’s value with the right risk management strategy. That’s why it’s a good idea to use a foreign exchange specialist like MTFX.  Our core business is finding the best rate for your international payment.

We have a wide range of risk management tools to help you lock in or target a better rate. Our currency specialists are also available to offer expert guidance and deepen your understanding of the foreign exchange market.

Get the Trifecta using MTFX

Excellent Exchange Rates. MTFX always offers the mid-market rate – what you see is what you get. 
Low Transfer Fees. Your savings just got better with low transfer fees and real-time exchange rates. 
FX Expertise. We provide the info and tools you need to stay on top of the international payments market.

How Much Does it Cost to Send Money Abroad?

When making an international payment with MTFX, the cost depends on the details of your transfer. Thankfully, we specialize in low-fee international transfers and always show you the total cost upfront.

There are no hidden or huge fees because we like to stand out from the crowd by providing more value to our customers. Our exchange rates are 3-5% lower than most banks, allowing you to get the most out of every penny you send.

We attract large volumes of transactions by virtue of being a specialist service, which is how we make it work on such thin margins.

Let’s End Expensive Bank Charges Together

There has been pressure from the G20 to reduce global remittance transfer costs¹. Canada is one of the countries that delivered a National Remittance Plan for cross-border payments.

At MTFX, we are proud to have heeded the country’s call to action to ensure safe, efficient, and transparent remittance services for all Canadians.

Meanwhile, banks remain the most expensive money transfer provider², according to Remittance Prices Worldwide (RPW), World Bank.

Fortunately, fintech newcomers like MTFX are disrupting the international money transfer market with lower costs and an efficient technological operation for senders.

We’re inviting you to give us a go on your next transfer to experience the savings firsthand. The more business we attract from you, the more we’re able to offer low-cost international transfers. 

Sign up for your free account and start sending money now. The more you send with MTFX, the more you save.

More Savings for you or your Business

MTFX offers exchange rates that are 3-5% lower than most banks. Check out this real-life example to see how this translates to more value for you.

Example: Let’s say you want to convert Canadian dollars to US dollars. You’ll get the real exchange rate from MTFX compared to the 2%-5% markup some providers offer.

That means you save up to $1,5000 for a $30,000 transfer. That's a much better deal compared to overpaying your bank. Your recipient gets more money, and you pay less because no additional charges are hidden inside the exchange rate.

International Payments for your Business

International payments are the bread and butter of the global marketplace. So, if you’re a business engaged in international trade, finding a money transfer provider with the fairest exchange rates and fees is worth your while.

Whether you’re looking to pay overseas suppliers/employees or make foreign investments, managing your international payments to reduce risk and lower costs is essential.

Learn More: Things to consider when making international payments to an overseas vendor or supplier.

MTFX Offers the only Account you’ll ever Need

Are you a small business, medium business, multinational, or online seller? You should know that other businesses like yours are enjoying swift, secure, and international transfers over here. Join them and get better utility with the following options:

Business Solution

How it works

Benefits

International payments● Transfer funds around the globe simply and quickly.● Manage your cash flow and save more on international business payments.
Multi-currency accounts● Send, hold and receive various currencies in one place.● Avoid the complexities of opening and managing foreign bank accounts.
Batch payments● Upload multiple payment batches in various currencies and approve everything in a single run.● Enjoy hassle-free settlement of high-volume, time-sensitive payments.
Incoming payments● Receive foreign exchange payments and provide customers with more payment options.● Simplify your accounts receivable process and enjoy better visibility of your available funds.
Risk management tools● Lock in or target a great rate with a forward contract or market order.● Protect your business from market volatility, keep control of your cash flow, and save money.

International Payments for Large Amounts

MTFX is trusted by businesses and individuals who need to move money, usually for the following reasons:

  • Buy overseas property.
  • Payment for a destination wedding.
  • Tuition and other study-abroad costs.
  • Business transactions and investments.
  • Other reasons like a Golden Visa investment, overseas mortgage payments, and purchasing international assets.

Whenever you need to transfer large amounts of currency, for whatever reason, MTFX has got you covered. If you’re making a series of smaller transfers, consider bundling them into larger amounts, as this can reduce the transfer costs associated with multiple payments.

Read more: How to send a large amount of money overseas?

The Best Way to Exchange Large Amounts of Currency

The stakes are higher when sending a four-figure sum or a larger amount. It’s easy to overlook banking charges with small amounts, but tougher to ignore the costs with big money.

Therefore, if you’re looking for the best way to exchange large amounts of currency, the ideal option is with a market specialist like MTFX. We make transfers in bulk, so we’re able to offer competitive rates and fees.

In addition, we’re a trusted and reliable payments provider, so you can transact with peace of mind when moving your funds to an overseas bank account.

The good news is there are no real limits on how much you can send overseas online, making it easier to accelerate payment processing and finalize deals.

Get the Timing Right with MTFX

With international payments, it’s all about timing, timing, timing. That's because exchange rates fluctuate, so the ‘when’ matters. Even a tiny difference can reduce the value of a large transfer significantly.

Luckily, we have specialist tools you can put in place to protect against market volatility.

  • Forward contracts. This allows you to lock in the desired rate for future transactions involving large sums of money on specific dates.
  • Market order. You can also set up a market order to wait for a more favorable exchange rate. Once your target rate is reached, your transfer will be completed automatically.

MTFX not only offers specialist tools, but we have a 25+ year history of moving large cross-border transfers for clients. Combined with our personalized guidance and expertise, you can transact in confidence with the knowledge that your money is in safe hands.

Learn more: How to target an exchange rate for international payments.

Send Money Abroad Regularly

Reasons for sending money abroad are different; some require you to make recurring payments, such as a mortgage for an overseas property or international school fees. In that case, it's more important than ever to use a provider who offers the best available rate and lowest transfer fees every time.

That’s because if you’re making international payments weekly, monthly, or regularly, the costs add up over time. Every cent or penny you save counts if you have long-term overseas financial ties.

Consider leveraging fixed and targeted exchange rates to provide more certainty when budgeting. You can log in to your online MTFX account anytime to set up regular payments according to your preferred schedule.

Let our Automated Technologies Handle Things for you

Ready to start making the most of your international payments account?

  • Setting up recurring overseas transactions has never been simpler or more efficient.
  • Take advantage of our sophisticated, automated technologies and never look back.
  • Start benefiting from fully automated payments that take the worry out of transferring money.

When you automate your payments from Canada via our quickly accessible, secure online platform, you instantly eliminate error-prone manual data entry.

Our automation technologies will validate the data and complete your transfer, so there's less financial admin. Your money goes where it needs to be whenever the time is right.

Safe and Secure International Payments

It’s safer and more secure to send money abroad and make international payments with MTFX.

✓ We are registered with FINTRAC (Registration No. M08042065). 
✓ Our compliance program adheres to the strictest regulatory standards. 
✓ Our data safety practices meet the highest standards, and we’re committed to protecting your personal data.

How to Make Payments Internationally

MTFX makes it easy to send money abroad in 3 simple steps.

1. Register or Login

It takes less than five minutes to create a business or personal account with MTFX.

2. Set up your transfer

Fund your transfer via bill payment or bank transfer. Provide your recipient’s details, then choose the desired currency and the transfer amount.

3. You’re good to go

We’ll deliver money to your recipient’s bank account, and you can track your transfer online to confirm that your money has reached its destination.


How Long will an International Payment Take?

The speed of international wire transfers generally depends on the destination country, the currencies involved, and your provider. MTFX typically delivers funds to your recipient’s bank account within 24-48 hours. We also offer same-day transfers.

It’s our understanding that punctuality is a crucial factor when making international payments. There are many instances where you might be in a rush to move funds to a foreign bank account.

For instance, when you pay your suppliers within the agreed deadline, you’re better positioned to negotiate profitable deals, avoid late payment interest charges, and build a trustworthy partnership.

In any case, we’ll always make every effort to deliver funds swiftly to your recipient. Be sure to double-check the recipient information, so there are no delays on your transfer.

transfer money internationally


Send Money Abroad Today

Why Choose MTFX?

✓ Online Convenience

Our online platform is accessible 24/7. Make payments anytime, anywhere – safely and securely.

✓ Effortless International Payments

Sending money overseas is a breeze due to our proprietary technology and easy-to-use online platform. That means simpler and faster transfers every time.

✓ Competitive Rates and Fees

MTFX offers competitive exchange rates and low transfer fees, whether it’s a recurring or one-off payment.

Register your account today to make easy international payments and get more with MTFX’s foreign exchange and money transfer services. 

 

More of your Questions Answered

Frequently Asked Questions 

 

What’s the best way to send money abroad?

A specialist money transfer service offers the best way to send money abroad and make international payments. MTFX is a good example, offering great rates, low transfer fees, and online convenience for a smooth overseas payment experience.

How to send money overseas?

With MTFX, all you’ve to do is open your account, book a great rate, and transfer the funds to your recipient. Then we take it from there.

What are the bank details required for international money transfers?

  • Beneficiary name, address, and account number
  • Bank name, address, and Swift code
  • Reason for transfer

Where can you send money with MTFX?

MTFX lets you send money in 100+ currencies to over 200+ countries. Popular destinations include:

Is it safe to send money with MTFX?

Yes. MTFX is regulated by FINTRAC. We follow rigorous rules and standards to keep your money safe.

Sources

  1. G20 National Remittance Plans
  2. Remittance Prices Worldwide Quarterly

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