At A Glance
Sending money abroad is a critical task for many U.S. residents. Whether you’re supporting family overseas, paying for international services, or managing global business transactions, billions of dollars cross borders each year, but so do cybercriminals looking to intercept funds or steal identities. Let’s explore how to ensure your international money transfers are secure.
In 2024, the Federal Trade Commission reported a surge in cross-border payment fraud, with losses exceeding $300 million for U.S. consumers alone. As digital remittance channels proliferate, attackers exploit weak passwords, unsecured networks, and spoofed payment links to redirect funds or harvest personal data.
Understand the Security Risks Before You Send Money
Sending money online means exposing personal and financial information. So it’s important to know what you’re up against.
- Online Threats Are Real: Scammers use phishing emails or fake login pages to steal passwords and OTPs. Hackers exploit weak or reused credentials to hijack accounts and reroute funds. Public Wi-Fi networks can make you vulnerable to man-in-the-middle attacks where your data is intercepted.
- Fraud Can Be Friendly: Sometimes, recipients falsely claim they didn’t receive funds, leading to chargebacks and disputes. These tactics are common in international transfers with little recourse if the platform isn’t secure.
Knowing these risks is the first step to protecting your money and identity in your drive to secure your international money transfers.
Also Read: How to Save Money When Sending Money Internationally
Choose a Trustworthy and Regulated Transfer Provider
Not all money transfer services are equal. Some prioritize speed, others prioritize security. Your ideal provider should offer both.
Licensing & Legal Protections
Choose platforms registered with FinCEN and those that hold state-level money transmitter licenses. Reputable banks and global providers offer better legal support if something goes wrong.
Check Security Certifications
Look for ISO 27001 or PCI DSS badges, which mean the provider follows strict data protection standards.
Verify Site Encryption
A padlock icon in the browser and support for TLS 1.2+ indicate strong encryption. Don’t use platforms without visible security protocols.
Read Customer Reviews & Audit Reports
A good reputation, consistent updates, and transparency about third-party audits are strong safety indicators.
Tools like Beem Identity Theft Protection offer dark web monitoring and reimbursement of up to $1 million for identity theft-related losses if you want extra peace of mind.
Lock Down Your Account and Device Security
Your devices and login credentials can become the weakest link even with a safe transfer service.
Use Strong, Unique Passwords
Your transfer account should never share passwords with your email or social media accounts. Use a mix of uppercase and lowercase letters, numbers, and symbols.
Enable Two-Factor Authentication (2FA)
Always turn on 2FA. Authenticator apps and biometric logins (like Face ID) are safer than SMS codes alone.
Use a Password Manager
Tools like 1Password or LastPass help create and securely store strong passwords without memorizing them.
Stay Phishing-Smart
Never click on links in suspicious emails or messages. Instead, type the transfer service’s URL directly into your browser. Double-check the domain name before logging in.
Update & Protect Your Devices
Use antivirus software, enable firewalls, and keep your apps and OS updated. Don’t make transfers on outdated or jailbroken devices.
Avoid Public Wi-Fi for Transfers
If you must use the public internet, use a trusted VPN to encrypt your connection.
Secure Your Home Network
Change your default router password, turn on WPA3 encryption, and remove unnecessary remote access features.
Always Double-Check Transfer Details
One wrong character in an account number can send your money into limbo.
- Verify Everything: Check recipient names, account numbers, SWIFT/BIC codes, and IBANs. Especially when sending to a new contact, confirm over a call or video chat instead of relying only on written messages.
- Send a Small Test Amount: Before sending large transfers, send a small amount to verify that everything is correct.
- Use Clear Payment References: Add invoice numbers or transaction notes to facilitate reconciliation between you and the recipient.
Reversing mistakes can be tricky (and costly), so it’s worth the extra few minutes to triple-check.
Also Read: How Gift Cards Will Change The World Of Global Money Transfers
Track Your Transfers and Stay Notified
The more visibility you have over your transactions, the less likely it is that something will go wrong unnoticed.
- Turn On Alerts: Enable notifications for every login, transfer, password change, or unusual activity.
- Use Services with Live Tracking: Many apps now show the exact status of your transfer — “Processing,” “Sent,” or “Delivered” — in real-time.
- Cross-Check Every Receipt: Reconcile your bank statements with confirmation emails and app records. Spotting a mismatch early can make a big difference.
- Set Activity Flags: Some services allow you to flag transactions above a certain amount for manual review or secondary approval.
Spot and Avoid Scams Before It’s Too Late
Even experienced users can fall for scams if they’re not vigilant.
- Watch for Red Flags: Any message that urges immediate action or requests payment in gift cards or cryptocurrency should be treated as a scam.
- Verify Requests from Friends or Clients: If someone you know asks for money unexpectedly, call them directly before acting.
- Educate Your Family and Team: Ensure everyone you send money to understands the importance of protecting account details and verification codes.
- Report Fraud Immediately: If you suspect foul play, immediately alert your provider and local authorities. Acting quickly can often stop a transfer or help in recovery.
Organize and Store Your Records Securely
Proper documentation can save you in case of disputes or chargebacks.
- Keep Screenshots: Always capture the final confirmation page showing recipient details, amount, and date.
- Save All Communications: Archive emails or chat threads where payment instructions were shared or approved.
- Use Encrypted Storage: Don’t keep sensitive documents on your desktop. Instead, store them in secure cloud folders or encrypted USB drives. These can hold important files like IDs, bank slips, and receipts.
Level Up Security for Large or Recurring Transfers
If you frequently send money or work with large sums, your approach to safety needs to scale, too.
- Use Dual Authorization: High-value transfers require two approvals before funds are released.
- Control Access by Role: Separate who can initiate, approve, and track transactions within your organization to reduce fraud risk.
- Use Escrow Services: For important business deals, escrow holds the funds and releases them only when both parties meet their obligations.
- Audit Regularly: Review your transaction logs every quarter and update security policies to catch issues before they escalate.
Also Read: How AI is Improving the Efficiency of Money Transfer Services
Safest Ways to Send Money Internationally
When it comes to sending money abroad securely, the method you choose can make a big difference. Here are some of the safest and most trusted ways to transfer funds internationally — with a special look at using gift cards for added flexibility.
1. Bank Wire Transfers
These are among the oldest and most secure methods. Major banks require thorough identity verification and typically use encrypted systems like SWIFT. While fees can be higher and transfers slower, the reliability is unmatched, especially for large transactions.
2. Trusted International Money Transfer Services
Platforms like Wise, Remitly, OFX, and Xoom are popular because they combine speed, transparency, and robust security. These companies are licensed and regulated and often offer real-time tracking, local currency conversion, and lower fees than traditional banks.
3. Mobile Wallets and Digital Payment Apps
Apps like PayPal, Revolut, Venmo (for domestic transfers), and Cash App (when available internationally) offer convenience, encryption, and fast delivery. Ensure the recipient uses the same app and that your transfer is funded through a verified account.
4. Using Gift Cards for International Money Transfers
While unconventional, sending money via gift cards has become a flexible and low-cost alternative — especially for unbanked recipients or countries with limited banking access.
With platforms like Beem, you can buy virtual gift cards from global retailers (like Amazon, Walmart, Flipkart, etc.) and send them to friends or family abroad. Recipients can use the card directly to shop or resell it locally for cash.
This method offers:
- Zero transfer fees
- Instant digital delivery
- No need for bank accounts
- Safe and anonymous transactions
Ensure you’re using a trusted platform and that the gift card is accepted in the recipient’s country or currency.
5. Escrow Services (for Businesses)
Consider using an escrow service if you’re making high-value payments or international business transactions. The funds are held by a neutral third party and only released when both sender and receiver meet agreed-upon terms. This protects against fraud or contract breaches.
Conclusion
With awareness and ongoing vigilance, you can ensure your international money transfers are secure. You can significantly reduce fraud risk by choosing regulated providers, locking down your credentials, protecting your devices, and monitoring every transaction.
For an extra layer of defense, explore identity protection solutions like Beem Identity Theft Protection or visit Beem to learn how to safeguard your data. Implement these best practices today, and send money abroad confidently, knowing your funds and identity are well protected.
If you found this post helpful, do try Beem for more tips on personal finance, budgeting, and other money matters. Download the Beem app here.
