Electronic Fund Transfers

Electronic Fund Transfers (EFT) is also referred to as a telegraphic transfers or a wire transfer. This is where funds are transferred from one location to another - usually from one Bank to another Bank. The wire transfer does not have to be from the same bank to the same bank.Various bank to bank systems are used, most commonly 'Swift' transfer.

An International Wire Transfer is a safe and secure way of transferring currency abroad and as well as good currency exchange rates the transfer costs can be minimal if any cost at all. A Swift currency transfer also means that you may be able to negotiate better trading terms or have goods released early by a supplier. When buying a property it can be crucial that a currency payment arrives on time. Currency exchange transfers are fully traceable. Many Foreign Exchange companies utilise fully automated online currency transfer systems.