How International Money Transfers help you bank without borders

When March 2020 rolled around, it seems like the entire world went digital. One of the silver linings that we see emerging in a post-pandemic world is more smart digital innovations, something we get really jazzed about!

If you’ve ever sent money to family or friends internationally, you’re likely aware of some of the common pitfalls associated with the process: arduous steps to follow, long waits for money to arrive, and surprise fees at every stop. Sounds like nonsense to us. That’s one of the big reasons we introduced our International Money Transfer service, powered by Wise.

If you’re counting every dollar, then every dollar counts. Sending International Money Transfers through EQ Bank means a fully transparent process, instead of being at the mercy of the receiver’s banking system and the percentage they may take from your hard-earned cash. No one likes hidden costs or microscopic fine print, so we don’t do that. We support 47 currencies and counting, and the exchange rate you see is the exchange rate you pay. No markups or hidden fees. The exchange rate and any fees associated will be quoted up front! Refreshing, right?

Sounds great so far, but you’ll need tons of info and paperwork to get started, right? Nope! All you need to send an International Money Transfer is the banking info of whoever you’re sending to. Once you have that, you can add your recipient and fill in the banking details in the mandatory fields, right in your EQ Bank mobile app. It sounds fast because it is. And it’s not only quick to send – funds will arrive within three business days, or even instantly, in some cases. Meaning if you send a transfer to your brother in the UK on your lunch break, and he could receive it by tea-time. Cheers to that!

Ready to go beyond Canada? Learn more about International Money Transfers.