Everything you need to know when sending money abroad
When it comes to exchanging money, paying for your transfer, understanding exchange rates and more, it’s important to understand what all the details mean.
We’ve got you covered, with our complete Monito glossary and guide to the main terms you’ll come across when sending or receiving money internationally.
Our Money Transfer Glossary
A
ACH — Automated Clearing House
Australian Securities and Investments Commission (ASIC)
B
C
CHAPS / Clearing House Automated Payments System
D
Direct Entry / Bulk Electronic Clearing System (BECS) (Australia)
E
Exchange Rate Alerts / Notifications
F
Financial Crimes Enforcement Network (FinCEN)
Financial Intelligence Unit (AUSTRAC)
Foreign exchange broker / forex broker
H
HMRC (Her Majesty's Revenue and Customs)
I
International Card Transaction Fee
L
M
Multifactor Authentication (MFA)
P
R
S
Sending Airtime Internationally
SEPA Payments — Single Euro Payments Area
SWIFT (Society for Worldwide Interbank Financial Telecommunication)
T
U
UK Financial Conduct Authority (FCA)
W
Get started with our useful guides
- Avoid inflated fees and find the cheapest way to send money, right here, right now.
- How can you make the most of your currency exchange when you transfer large sums of money across borders? By finding the right money transfer company for your needs. When making large money transfers there are two key details to consid…
- Billions in currency exchange fees are paid by migrants every year without noticing it. Learn here how to identify and avoid them.
- Comparing money transfer services only takes about five minutes, but if you're really hesitant about wasting time, here are 6 more REASONs that will convince you.
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How to use Monito to make the most of your international money transfers
Monito is a comparison website for international money transfer services.
We compare more than 300 providers so that you can find the cheapest option for each of your transfers.