International transfer services: Best options for global businesses
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International transfer services make it possible for businesses to send money across borders.
But most traditional bank transfers still rely on SWIFT networks that don’t deliver the efficiency that businesses today expect. Instead, you’re dealing with transfer times of 1–5 days or more, hidden fees, poor exchange rates and limited currency options – all of which can disrupt cash flow and strain supplier relationships.
WorldFirst was built to solve these problems.
Our World Account is a multi-currency business account that lets you send money in 100+ currencies to 200+ countries and territories – quickly and at low, transparent rates.
By using local payment rails wherever possible and offering helpful payment management tools, WorldFirst removes friction from international money transfers and gives you the speed, clarity and control you need to scale globally.
In this guide, we’ll explore how WorldFirst enables fast and secure money transfers, reduces costs and provides you with smarter tools to manage cross-border payments at scale. Then, if you’re still interested in exploring more traditional international transfer services, we’ll also share three practical tips to help you choose the right provider.
Read on to learn:
- How WorldFirst enables faster international transfers at low, transparent costs
- 3 tips for choosing the right international transfer service for your business
Open a World Account for free and send money globally more efficiently.
How WorldFirst enables faster international transfers at low, transparent costs
Traditional banks and basic transfer services weren’t built with global businesses in mind. They often rely on slow SWIFT transfers and charge complex fees that become harder to manage as payment volumes grow.
WorldFirst removes these friction points by combining faster transfer routes with transparent pricing and business-first payment tools in one platform.
When you open a World Account, you can hold and receive money in 20+ currencies, without needing to set up physical offices or legal entities in each country. The process is fully online, and applications are typically approved within 24–48 hours – a sharp contrast to the weeks or months often required by traditional banking.
Once your account is open, you get access to all of WorldFirst’s advanced international payment features:
Make same-day international transfers via local rails
Waiting several working days for an international transfer to clear can slow down your entire operation.
With WorldFirst, you can make payments in 100+ currencies across 210+ countries, with up to 90% of our online money transfers arriving the same day.
That’s possible because we prioritise local payment rails instead of relying solely on slower SWIFT networks. You also get real-time payment tracking and notifications, so both you and your recipient can see where the money is at every stage.
Faster payments help build stronger supplier relationships that can open doors to early payment discounts and more flexible terms. It also enables you to act quickly when opportunities arise. If market conditions change or stock becomes available at short notice, you can pay international partners immediately and get ahead of the competition.
Read more: How to send international payments: 6 options for businesses
Keep your costs under control with WorldFirst’s low, transparent pricing
Opening a World Account comes with no setup fees, monthly maintenance costs or holding fees. You only pay when you make payments or convert currency – and our pricing for those services is clear and competitive.
For major currencies like GBP, EUR and USD, we convert your funds at mid-market exchange rates (MMR) with conversion fees capped at 0.50%. This eliminates the hidden markups that traditional banks embed in poor exchange rates.
You also have control over when and how you convert currency. Our advanced FX tools are designed to help businesses manage risk and plan ahead:
- Forward contracts let you lock in an exchange rate for up to 24 months, making it easier to budget for future supplier payments and protect margins from currency volatility
- Firm orders let you set a target rate and automatically convert when the market reaches it
- Spot contracts give you immediate conversions at live market rates when timing is critical
Read more: What is a forward contract and why should you use one?
Scale operations with business-focused payment features
As international operations grow, manual payment processes quickly become a bottleneck. WorldFirst’s management features help you scale without adding complexity.
You can send up to 200 payments at once using batch payments, uploading payment details in one go instead of entering them individually.
Automated payments enable you to schedule regular transfers that run reliably in the background, reducing admin and minimising errors.
For teams, tailored payment authorisations let you define who can create, approve and release payments. This keeps controls tight while permitting your operations to move quickly.
Make instant payments to Chinese suppliers with our exclusive integration
If you’re a business that pays suppliers in China, WorldFirst offers additional advantages.
We’re the only international payments platform with a direct payment integration with 1688.com, one of China’s largest wholesale marketplaces that’s home to over 10 million suppliers. Products on 1688 are often up to 40% lower than on other wholesale platforms, making speed and reliability especially important.
The process is simple. You link your World Account to your 1688 account through the World Account dashboard. When placing an order on 1688.com, you can select World Pay at checkout and pay directly from your World Account.
WorldFirst also has banking partnerships with 50+ banks in China, enabling us to use local payment rails for same-day USD payments to Chinese bank accounts in mainland China and Hong Kong. You can make USD payments that clear within hours, with full tracking throughout.
Pro tip: If your supplier already has a World Account – and more than 150,000 Chinese suppliers do – payments between World Account holders in the same currency are instant and free.
Read more: The best way to pay Chinese suppliers: A guide for cross-border businesses
3 tips for choosing the right international transfer service for your business
We’ve shown how WorldFirst can help you handle international transfers more effectively. But if you’re still evaluating traditional transfer services, it’s important to look beyond surface-level features before committing.
Not all providers are equipped to support growing, cross-border businesses. Keep these three considerations in mind as you compare your options.
1. Evaluate the total cost beyond the listed transfer fees
Transfer services may advertise “no” or low fees while hiding costs in poor currency exchange rates. In practice, paying a small 0.5% fee to convert at a great exchange rate is often more cost-effective than using a “free” service that quietly adds a 2–3% markup. When you’re sending large amounts of money, that difference compounds fast.
You’ll also want to factor in potential intermediary deductions and correspondent banking fees that traditional services may not disclose upfront. These can include SWIFT message fees, correspondent bank handling fees, receiving bank charges and unexpected deductions taken along the payment chain – sometimes by multiple banks – which reduce the amount your supplier actually receives.
2. Consider your transfer speed requirements
Ask how quickly your suppliers expect to be paid and whether faster settlement could help you secure stock, negotiate discounts or respond to market changes. Same-day transfers using local payment rails offer far more flexibility than traditional 1–5 day SWIFT payments, especially when combined with real-time tracking.
3. Assess multi-currency and global business needs
If your business regularly sends, receives or holds multiple currencies, a single-currency solution will quickly become inefficient.
Multi-currency account capabilities eliminate the complexity and cost of maintaining separate international bank accounts. They also let you hold funds in various currencies, which lets you avoid forced conversions and gives you flexibility to pay suppliers in their preferred currency.
Meanwhile, advanced FX tools like forward contracts become essential for businesses with significant foreign currency exposure, helping you manage risk and optimise conversion timing.
Make international transfers with a World Account
International payments shouldn’t slow your business down or drain your profits through hidden fees and poor exchange rates.
WorldFirst combines faster transfers, transparent pricing and tools built specifically for global payments to help you maintain control over your money as you grow across borders.
Whether you’re paying suppliers in China or managing multi-currency operations, a World Account lets you send money online with the speed and reach that traditional banks often can’t.
Open a World Account for free today and see how straightforward global payments can be.
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