Sending money to family abroad used to be a terrible experience.
Endless queues at banks. Confusing paperwork. Hidden fees for every transfer. And days (sometimes weeks) of waiting for the funds to arrive.
Oh yes, the good old days…
Thanks to technology, international money transfers have been completely revolutionised.
Transfers that used to take days now take minutes. Fees that used to be sky high are now tumbling downwards.
Here’s what you’ll learn:
- Why Digital Transfers Are Winning
- The Tech Behind Modern Remittances
- How To Pick The Best Transfer Method
- Mistakes To Avoid When Sending Money Overseas
Why Digital Transfers Are Winning
Digital money transfers are no longer a niche. In fact, they are leading the way.
Visa’s 2025 report revealed that 67% of consumers now prefer to make their transfers using a mobile app. This is a stark difference to a few years ago when the norm was to send money to someone through a bank branch.
So what’s changed?
Digital transfers offer three things: speed, transparency, and convenience. Someone sending money to China from Europe can now complete the entire transaction on their smartphone in less than five minutes. This includes no paperwork, no queuing and no waiting days for the funds to reach their recipient.
For those of you asking how to send money to China, the options have never been better. The remittance apps available today handle everything automatically including currency conversion and all those compliance checks.
Impressed?
The numbers speak for themselves. Global remittances soared to a record high of $905 billion in 2024 according to World Bank data. That’s a lot of money being exchanged between family all over the world.
The Technology Behind Modern Remittances
Ok so what’s really making these lightning-fast transfers possible?
Several different technologies are coming together to enable borderless money transfers to occur seamlessly.
Mobile Payment Apps
Mobile apps have become the core infrastructure for cross-border money transfers. These apps link up directly to banking and financial networks globally, bypassing expensive middlemen.
Most transfers now take minutes to complete rather than days.
Real-Time Payment Networks
Financial institutions and fintech platforms are leveraging real-time payment networks that operate 24/7. This allows for instant transfers regardless of time zones or banking hours.
The days of waiting for business days for transaction processing are long gone.
Automated Compliance Checks
AI and machine learning are powering platforms to do automated compliance checks. This speeds up the whole process whilst ensuring everything is legal and above board.
Something that once took manual review is now completed in a matter of seconds.
Currency Exchange Technology
Dynamic currency conversion and conversion technology means users know upfront what they’re actually paying. No more nasty surprises from fees or unfavourable exchange rates buried in the small print.
Transparency is now the new norm.
How To Choose The Right Transfer Method
Don’t be fooled, not all transfer methods are equal. Picking the right one can save you serious money in the long run.
What to look out for:
- Transfer Speed: Some companies can get your funds to their recipient within minutes where others can take a few days. If speed is important then this is where your priority should be.
- Exchange Rates: Check the mid-market rate and compare it with what providers are quoting you. The difference is what they are pocketing.
- Transfer Fees: Check both flat fees and percentage-based fees. These quickly mount up on large transfers.
- Delivery Options: Some recipients will be fine with bank deposits where others need cash pickups. Make sure the platform provides both.
- Coverage: Not all platforms operate in every country. Check the destination is supported before signing up.
The good news is that there is now serious competition among providers. This means better and better services being developed to win over customers.
Common Mistakes To Avoid When Sending Money Overseas
Even with all this new technology, people still make common errors which can be costly when sending money internationally.
Here are some to avoid:
Using Traditional Banks For Every Transfer
Sending money through your local bank remains the most expensive way to remit money abroad. Banks fees and currency markup can swallow up 10% or more of each transfer.
Digital-first companies tend to charge a tiny fraction of that.
Ignoring Exchange Rate Fluctuations
Currency prices constantly fluctuate against one another. A transfer completed on Monday may cost a lot more (or less) than the same transfer on Friday.
Timing is important when sending large amounts.
Not Verifying Recipient Details
Sending to the wrong account number or recipient name will see transfers delayed for weeks. In some cases, you can even be charged a fee by platforms to reverse a transaction.
Double-check everything before sending.
Forgetting About Transfer Limits
Daily and monthly limits exist on most services for how much you can send. Hitting these unexpectedly can be a real problem for time-sensitive transfers.
Know the limits in advance.
Overlooking Security Features
Just because something is cheap doesn’t make it safe. Make sure any service you use has proper encryption, two-factor authentication and is regulated.
A few dollars here and there isn’t worth falling victim to fraud.
Speed Matters More Than Ever
When family urgently need money, waiting is simply not an option.
Medical emergencies. Unexpected bills. Educational costs with strict deadlines. These are all real-life scenarios where people need fast and reliable solutions.
3-5 day bank transfers just don’t cut it in these situations anymore. Services today understand this and have built their platforms around speed.
A lot of companies now offer same day delivery for key locations. Some even promise delivery within minutes for certain countries.
This is only possible through direct partnerships with local payment networks. Rather than routing through numerous correspondent banks, the money moves directly from sender to recipient.
The outcome is that funds arrive when they are actually needed.
The Future Of International Transfers
Technology will continue to change how money is transferred across borders.
Blockchain and cryptocurrency are already making an impact on the remittance space. We can expect to see faster transfers and lower fees thanks to these technologies.
Biometric verification is being rolled out as standard. Fingerprints and facial recognition are making the transfer process more secure while also being lower friction for users.
AI-driven fraud detection is only going to get more intelligent. This will protect senders and recipients from the increasing number of scams out there.
The bottom line is that sending money to family abroad will only become easier and cheaper in the future.
In Conclusion
Technology has taken the hassle out of international money transfers.
Digital platforms now offer:
- Instant or near instant transfers
- Transparent fees and exchange rates
- Multiple fund delivery options
- High-end security
Paying excessive fees and waiting weeks for transfers to clear are things of the past. Sending money to China (or anywhere else for that matter) is now as easy as sending a text message.
Anyone still using traditional bank transfers… well it might be time to explore the alternatives. The money and convenience you’ll save is well worth it.
Just make sure to compare services, verify recipient details and always prioritise security. Sending money to family members becomes completely stress-free when done the right way.
