International Money Transfer Laws

Bank sign on building
••• Hemera Technologies/ Images

When a friend or family member needs money and they are in another country, an international money transfer allows you to send funds to them. There are amount limits and requirements for sending the money that everyone must follow. If these laws are not followed, the transfer will not go through.

International Money Transfer

Laptop with international map

People who live in the United States often take jobs overseas, and international money transfers allow them to send money home to their loved ones, as well as pay monthly bills that they still have back home. Those who move to the states from other countries might need to send money back home to their families so they use an international money system of some kind. Money transfers allow money to go from state to state and country to country through banks and companies.

Proof Of Identification

close-up of a fax machine

When sending an international money transfer through your bank, the law requires you show proof of identification. Unlike money transfers in the United States, international transfers require a photo identification of some kind. You are required to fax a certified copy of your identification to the bank before the transfer will go through. If the photo identification card you send has expired, it is not valid, and the transfer will not go through.

Online Tranfsers

Close-up of a person operating a laptop

When sending an international money transfer, the sender has the option to send the transfer online. You will sign up for an account, and then after the account has been established, you can start sending money internationally. However, the recipient will have to go and pick the money up in person. There is no way to use a Western Union and not pick the money up in person because this is needed for verification and legal purposes. The individuals who send and receive the money are kept on record under the money transfer control number they receive for their transaction.

Amount Limits

businessman using a laptop in an office

The amount you can send in an international money transfer is regulated if sent online. This keeps fraud down because the individual is not verifiable. When you send a transfer through the actual location, they will allow you to send more than you can online but there are still amount limits for each transaction. You can send multiple transactions if need be. These limits help control money laundering as much as possible.


Man waiting in line for bank teller

When sending an international money transfer, the law allows the bank or money transfer company the right to charge a service fee. If you do not want to pay this service fee, you will not be able to send the transfer. The amount of the service fee depends on the company.

Related Articles