How to Send USD and EUR Internationally Using Fin.do
Finding the best way to transfer money internationally depends on a variety of factors. Transfer costs, speed, security, and currency availability can significantly influence your choice.
Unfortunately, few money transfer services will accommodate all your requirements, especially when it comes to transferring foreign currency.
With Fin.do, you can transfer any currency instantly to more than 150 countries worldwide. Continue reading to learn how Fin.do works and how to make international foreign currency transfers.
How international money transfers work
Foreign currency exchange
When we think of international money transfers we typically think of currency exchange; that’s when we send a given currency which gets converted into another.
Say you live in the UK and are supporting your family back in Ukraine. In this case, you can make an international transfer whereby you send pounds and your family receives their local currency (UAH).
This is the most common type of cross-border transactions and virtually any bank or international money transfer service facilitates foreign currency exchange.
Same currency transfers
Sometimes, you may want to transfer a single currency internationally - for example sending USD from the UK to USD in Pakistan, or EUR from France to EUR in Ukraine.
This is what we call a same currency transfer, where the currency you send is the currency received by the recipient. In this case, no currency conversion takes place.
Fin.do is the only money transfer app that allows you to send and receive the same currency anywhere across 150 countries.
With Fin.do, you can send any currency from any card, regardless of the currency your card is issued in, and regardless of the receiving card’s currency.
So you can send USD from a card issued in GBP, EUR from a card issued in PLN, and so on.
Why make a same currency transfer
There’s a whole host of reasons why you may want to send USD to USD or EUR to EUR internationally. For example:
Protect your savings from inflation
Saving money in stable currencies like the US dollar or the euro as opposed to your local currency is considered safer because their value tends to vary less over time.
Stay safe from FX volatility
Foreign exchange rates fluctuate constantly. With Fin.do, you can track exchange rates and decide when is the best time to exchange currency.
Move money at the best rates
With single currency transfers, you avoid unnecessary currency conversions. If you send EUR or USD from or to a card issued in a different currency, only one currency exchange will be performed (by the sending or the receiving bank). This allows you to send only when your bank provides the best exchange rate.
Fin.do is an instant money transfer platform, which means your USD to USD or EUR to EUR transfers are settled within minutes, avoiding the risk of further currency fluctuations.
A step-by-step guide to same currency payments via Fin.do
To make a same currency transfer using Fin.do, follow these simple steps below.
Let’s take this example: you want to make a USD transfer from a GBP card in the UK to a UAH card in Ukraine. (Note that this will work for any other combination of currencies we support.)
Step №1: Install Fin.do
Installing Fin.do is entirely free, with no ads and no recurring charges. You can download Fin.do on the App Store or from Google Play.
Step №2: Add your card(s)
Fin.do works with Visa, Mastercard, and Maestro cards - including debit, credit, and prepaid cards. You may add up to 10 cards to your Fin.do account. For security reasons, your card will be quickly verified before you can start making transactions (verification only takes a few seconds).
Step №3: Set up your transfer
First, select the card you wish to transfer money from. Make sure you select the currency you want to send (USD in this case). Since your card was issued in a different currency (GBP), your bank will perform the exchange from GBP to USD.
Step №4: Select a recipient
With Fin.do, you can select a contact from your phone or enter a 16-digit card number. No other details are required. Next, make sure you select the same currency for your recipient as the currency you are sending (in this case USD). Even if the recipient’s currency is not supported, you can still select USD or EUR as a receiving currency. The receiving bank will automatically perform the exchange from USD to UAH.
Step №5: Confirm your transfer
Before you confirm your transfer, check your transfer details: we always show all the rates and delivery times upfront, before you send. When you’re ready, confirm your transfer and that’s it: money will be delivered in seconds 🎉
We hope this guide to same currency transfers was helpful! If you need more information about our destinations, currencies, or security, you can find more details here.