What Is The Best Way To Receive Money From Overseas?

Just as millions of people send money internationally every year, millions of people also receive that money from abroad. You could be receiving an international payment as a freelancer from an overseas client, from a loved one who is working abroad, or for a myriad of other reasons—and the good news is that sending and receiving money from abroad is more accessible than ever.

How do I Receive Money Sent From Another Country?

Receiving money from overseas is very simple. 

The most important step is to ensure that you provide accurate details to the person or business transferring your money, whether that’s your bank account details (such as your IBAN number) or your address for home delivery. After that, make sure you’re aware of exactly how and when the money is going to be delivered.

How Can I Receive Money From Overseas?

1. International money transfer service

Using an international money transfer service, you can receive money from overseas directly into your bank account. You’ll need to provide your bank details so the sender can set up an online account with the service provider and exchange the money into your desired currency. The service provider will then transfer these funds into your bank account.

International money transfer providers typically offer lower transaction fees and more competitive foreign exchange rates than banks.

2. Digital wallets

Receiving money from overseas has become more convenient and faster through digital wallets. Digital wallets allow users to receive, hold, and spend money in multiple currencies without needing a traditional bank account. This option is particularly appealing for freelancers, travelers, and expatriates who deal with multiple currencies and need instant access to their funds from anywhere in the world.

Jeton Wallet: A Premier Choice for International Transactions

One standout option for receiving money internationally is Jeton Wallet. Jeton Wallet offers a seamless and secure platform for users to manage their finances in over 50 currencies. With Jeton, you can receive money directly from overseas clients, family, or friends quickly and at competitive exchange rates.

3.Bank-to-bank transfer

You can receive money from abroad through a simple transfer from one bank account to another. The sender initiates the transfer from their bank account, usually via online or mobile banking. All you’ll need to do is provide some details, including your name, account number, residential address, your bank’s name, and a SWIFT or a Bank Identifier Code (BIC). You can request these from your bank.

These types of transfers can be costly, as banks typically apply their own foreign exchange fee on top of the margin applied to your exchange rate for international money transfers.

4.International money order

You can receive money from overseas via cheque. The sender can request an international bank draft in any desired currency from a financial institution overseas, using funds from his/her account to cover the amount of the internationally guaranteed cheque. The sender can then post the cheque to you overseas, after which you can choose to cash it at your local bank or deposit it into your bank account.

The downside is that bank drafts can take weeks to process so may not be the best option if the payment is urgent.

5.Cash pick-up

In some cases, you can arrange to collect an international payment as a cash transfer from your bank, a third-party merchant or a designated store. While you won’t need to set up an account with an international money transfer provider or bank to receive the funds, you’ll need the transaction reference number and show a valid form of identification (that matches the details supplied on the transaction) to collect your cash.

Why Jeton Is a Great Way to Receive Money From Overseas

To receive a payment sent from another Jeton Wallet account, follow these steps: If you receive a confirmation SMS that funds have been sent to your Jeton Wallet, begin by logging into your account. Next, navigate to the ‘Waiting Transactions’ section and select ‘Accept the payment’. If you have the ‘Auto Accept’ option enabled, the payment will automatically be credited to your account in the relevant currency. If you do not have an account in that currency, one will be created for you automatically.

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