In today’s fast-moving world, international money transfers have become second nature. We send funds to friends across the globe, support family members thousands of miles away, and pay for education, healthcare, and much more.
But let’s be honest—have you ever stopped to think about the hidden hurdles? Slow transfers, security risks, and those annoying fees can turn a simple transaction into a frustrating experience.
The good news? CFPS is here to change the game—making international transfers fast, secure, and cost-effective. Want to know how? Let’s dive in!
SEPA & SWIFT
To begin with, let’s have a look at two most typical types of money transfers available in the market. The first of them, and most common within Europe, is SEPA. It stands for Single Euro Payments Area and encompasses transfers across 36 European countries. This is a great way to transfer money if your recipient lives in the European zone. The main benefit of SEPA is its faster processing speed (it usually takes up to 1 day only) and cheaper fees. However, SEPA is only available in euros and does not support other currencies. Besides, the sender and receiver must both be in Europe, hence, it does not work if either of them is not in the aforementioned area.
If this is the case for you or your counterpart, then you might consider SWIFT transfers. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication and enables transfers of money between financial institutions across the world. The undeniable advantage of SWIFT is that it facilitates money transfers in multiple currencies. However, it comes with its own disadvantages, most significantly, higher commission rates due to several parties’ involvement and the speed of transaction – it can take up to 5 days to receive your transfer.
Safety concerns
When transferring money, it is of utmost importance to avoid such strong risks as fraud, money loss and access to your personal and financial data. Make sure that you are using a trusted service provider with fraud protection and strong encryption to make sure that your money is transferred safely and your personal information is not leaked.
Why choose CFPS?
With all the information gathered, we can now see how important it is to make a smart choice when it comes to money transfers. Many traditional banks charge rather high and non-transparent fees on their international transfers, making you lose your precious money. Besides, they often require complicated procedures and in-person visits to their branches, thus wasting your time. Newer, less expensive alternatives, such as neobank apps are sometimes not to be trusted due to lack of certifications and safety concerns.
Let’s look into a real-life example. Say, you need to send 10 000 euros to a relative in Australia. If you use a traditional bank transfer, the fees can reach 3-5% and the transfer time can take up to 5 business days. With CFPS, the fees are much lower and the money will reach the recipient’s account almost instantly.
That is why CFPS is the perfect solution when it comes to transferring money abroad – our commissions on SEPA and SWIFT are low, flat and transparent – you know ahead how much you will spend on fees. And if you transfer money between CFPS accounts, it is completely free! Our transfers are handled promptly and will be processed fast, so that the recipient can get it at a decent time. On top of that, CFPS is PCI DSS compliant, ensuring the highest level of safety, which means that you can relax and send your money with a peace of mind.
CFPS – your smart choice for cheap, secure and fast money transfers!
