If you want to send money from the United Kingdom to the United States Of America, then you probably be thinking which transfer service to use.
Should you use IBAN bank identifier code or SWIFT code? Which of them provides you the best security money transfer with faster delivery. Let’s find out which service is the best suited for transferring money to the USA.
Which Bank Code USA Supports?
The USA is very restricted to international money transfer and does not support bank identifier code or IBAN, but it does support the SWIFT code for international transactions. This is because it is considered faster and more secure.
But, US Banks do support IBAN receiving money, meaning that you can send money to the USA using international bank codes other than Bank SWIFT code, and it is still acceptable. But, you cannot send money from the USA from another bank code.
What Services Should You Use?
To be on a safe side, it is preferred to use SWIFT transfer services to send money to the USA around the world. It is more effective and has fewer fees. The best service providers that help you transfer money with minimum fees are:
Transferwise is a top-rated money transfer service that can send money all around the world without any problem. It offers a 24 hours guaranteed money transfer and is nineteen times cheaper than Paypal. Huge investors support it, and they make your money secure.
They are excellent customer service and come up with their promises. There is the best option for freelancers working from the USA because it has a meager fee.
WorldRemit is an amazing SWIFt transfer service that lets you send 90 different currencies to 150 different countries. Their transaction fee is very low, like all SWIFT services. It even has a mobile app to send money on the go. It supports bank transfers, money pickup, airtime, and many more options to choose from. And their services can deliver money within minutes if you are an authorized user.
The best part of WorldRemit is that it is totally free for the first transfer, meaning no transfer fees will be cut from your money. It is best to transfer money from the UK to the US.
TransferGo is a mix of the services mentioned above but with unbelievable prices. To transfer the money from the UK to the US, you will be charged only 0.99 pounds within two days’ delivery. You can get a 30-minute delivery by paying a little extra, up to 2.99 pounds. The transfer rate for this service is really low compared to the above two.
Many services in the market can help you send money from the UK to the US or vice versa, but it is important to know the correct information about the recipient’s account; otherwise, it can stuck in the process and can take months to reach them.
Above mentioned are the best SWIFT money transfer services and has really low charges with good reviews from people all around the world.