4 reasons to transfer money overseas through CardUp

The CardUp Team Nov 9, 2022 11:00:00 AM
Pay anywhere in the world with CardUp

If you are working abroad, have your child’s overseas education fees to pay, or frequently import supplies from other countries, you’d be looking to do an international money transfer.

 

Save over 76% on transfer costs with CardUp

Sending money overseas can be tricky. It takes a while to find a remittance provider that gets you the most benefit at the lowest cost. With all the providers in the market offering different exchange rates (that may consist of hidden markups), and high transfer fees that are not shown upfront to you - you could be paying more than what it would actually cost!

But here’s the game-changer.

You can now send money overseas via credit card and bank transfer at the best exchange rates, and the lowest fees on CardUp. Plus, your overseas payments are eligible for earning air miles, cashback, or points when you pay by credit card - which you would have otherwise missed out on. 

 

1. Enjoy real exchange rates 

Why pay more when you can pay less? Make your overseas transfers with competitive real-time exchanges rate with no hidden markups on CardUp. Enjoy all-day low rates on major currencies such as USD, EUR, JPY, AUD, HKD, GBP and more – perfect for all your overseas payments including (but not limited to) rent, goods & services, and school fees.

View the updated exchange rates and fees easily on our currency converter here (or in your CardUp account)

 

2. Earn rewards on your transfers

Most–if not all– international money transfers do not earn you rewards. At CardUp, we aim to maximise the benefits of your credit cards and lower your fees. This means that your credit card transfers via CardUp will earn you miles, cashback or points (according to the base earn rate of your credit card).

In addition to credit card rewards, you will also defer your cash outflow till your card bill is due up to 2 months later – a great benefit for those who prefer using their cash on hand for other expenses.

 

3. Multiple transfer methods, all at low costs

CardUp offers two ways to transfer money overseas – via bank transfer or credit card transfer.

Bank transfer

 

How to send money overseas via bank transfer on CardUp

 

You may be familiar with the bank transfer method as it is often the cheapest money transfer method. When you set up a bank transfer on CardUp, the exchange rate gets locked in and secured as soon as your payment is created. This means that whatever exchange rate you confirmed at set up, is the rate that you’ll enjoy when transferring funds.

What's better? There is no CardUp fee when you choose the bank transfer option - yes, 0% CardUp fees!

Bank transfers are currently available for business users only. Personal users do stay tuned for more updates.

 

Credit card transfer 

 

How to send money overseas via credit card transfer on CardUp

 

This method is often chosen when individuals want to defer their cash outflow, as most remittance providers charge a fixed and hefty credit card fee of 3% or more and do not allow rewards to be earned on the payments.

With CardUp, you would now find credit card transfers a more efficient way to send money abroad because of the credit card rewards you can earn, and the flexible credit card fee ranging from 1.3%-1.8% per transaction when you apply a promo code. 

And of course, the best exchange rates apply.

 

Real exchange rates & extra benefits

 

Bank Transfer

 

Credit Card
Benefits
  • No transfer fees
  • No platform fees
  • No cable fees
  • Lock in exchange rates upon setting up payment
Benefits
  • Low credit card fee of 1.3%
  • Credit card rewards guaranteed (even on any fees you pay)
  • Defer cash outflow until your card bill is due up to 2 months later

 

Track your payment status easily on a dashboard

 

 

4. Full transparency, no hidden or unnecessary fees

Why is it important to us that all fees are presented upfront? Because we know how much it sucks to only find out at the last stage of your payment setup that there are multiple hidden charges jacking up the final amount you pay - we hate this too!

Hence, we want to give you the full transparency that you deserve and you can see it and experience it yourself 

send money over | pay overseas supplier | low transfer fees | best exchange rates

On CardUp, you’ll find all fees displayed on the first step of your payment setup, together with the exchange rate.

 


Common international payments made through CardUp include overseas school fees, renovation, supplier payments, rent, and insurance. View the full list of common payment types here.

 

Have an international payment to make? Try using CardUp for free.

 

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