5 luglio 2020

What bank details are needed to send money?

What bank details are needed to send money?

When you need to send money abroad, the last thing you want is to be faffing around with lots of different numbers and information, not knowing what’s needed to make a transfer. One of the most annoying problems for people who regularly transfer money internationally is finding out that there’s a specific bit of vital information that they don’t have!

This could be an account number, an IBAN number, a SWIFT code, a full address… it can be very confusing sending money if you aren’t prepared.

One important thing to bear in mind is that the information you need changes from country to country. You should always check the requirements before you send money.

Here are guidelines for a few of the most popular destinations to help you out:

 

Countries in the Eurozone

The bank details you’ll need to send money to countries in Europe are:

  • Recipient’s full name
  • Recipient’s IBAN (International Bank Account Number)

You may also need the receiving bank’s BIC/SWIFT code when sending to certain countries - you should check out specific country requirements beforehand.

 

India

The bank details you’ll need to send money to India are:

  • Recipient’s full name
  • Recipient’s account number
  • Recipient’s IFSC (Indian Financial System Code)
  • You may also need the receiving bank’s BIC/SWIFT code.

 

China

The bank details you’ll need to send money to China are:

  • Recipient's full name
  • Recipient’s bank name
  • Recipient’s bank card number
  • Purpose of transaction
  • Source of funds

Alternatively, you just need the recipient’s Alipay number if you’re sending via Alipay.

 

Nigeria

The bank details you need to send money to Nigeria are:

  • Recipient’s full name
  • Recipient’s bank name
  • Recipient’s account number

 

Russia

The bank details you’ll need to send money to Russia are:

  • Local bank identification code
  • Local bank account number
  • Full name (patronymic inclusive)

 

Money transfers to bank accounts with Paysend

If you need to send money to an international bank account, you need to find a provider to help you do this. Paysend is different from other online money transfer services because we don’t have transfer fees for international transfers to bank accounts. With zero-fee transfers, you can be sure that more of your money will arrive with your recipient to make purchases.

 

Is there an alternative to bank transfers if you don’t have all the required information?

Bank transfers are a useful way to send money abroad, but you may not have all the required information at hand, or your recipient may not know all of their details off the top of their head.

If they need the money sent quickly, this can be a major problem! Luckily, Paysend has the solution - card2card transfers.

When you send money to cards with Paysend, for many locations the only details you need are the recipient’s full name and card number. Your money is sent using simply card details rather than bank details, meaning it can be much easier when you want to transfer your money!

We’re the only money transfer provider that lets you do this, so what are you waiting for? Head to the App Store or Google Play now to download the Paysend app!

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