Credit Card vs Other Methods for Sending Money Abroad, Which Is More Efficient?
When it comes to sending money overseas, there are multiple ways to do it, ranging from credit cards, bank transfers, and digital remittance services to international e-wallets. But which method is the most efficient for your needs?
See Video on How to Easily Send Money Abroad with Transfez
In this article, we compare the most common international money transfer methods based on cost, speed, flexibility, and ease of use, so you can choose the best fit for your situation.
1. Using a Credit Card to Send Money
Pros: Using a Credit Card to Send Money
1. No need for available cash—you can use your credit limit instantly
2. Fast, fully online process
3. Potential for earning cashback, points, or travel rewards
Cons: Using a Credit Card to Send Money
1. Higher fees if treated as a cash advance by your bank
2. Interest may apply if not paid off immediately
3. Not all platforms support credit card payments
2. Traditional Bank Transfer
Pros: Traditional Bank Transfer
1. Widely accepted and considered secure
2. Direct transfer from one bank to another
Cons: Traditional Bank Transfer
1. High international transfer fees, depending on the bank and country
2. Slower processing time—typically 2 to 5 business days
3. Less competitive exchange rates compared to fintech platforms
3. Digital Remittance Services (e.g., Transfez, Wise)
Pros: Digital Remittance Services
1. Transparent and often lower fees
2. Fast processing (instant to D+1)
3. Multiple payment options: credit card, bank transfer, e-wallets
Cons: Digital Remittance Services
1. Requires account registration and identity verification
2. Service availability varies by country
4. International E-Wallets (e.g., PayPal, Revolut)
Pros: International E-Wallets
1. Convenient for digital payments, especially between users
2. Great for international shopping or service payments
Cons: International E-Wallets
1. High conversion and withdrawal fees
2. Not everyone has an e-wallet account
| Factor | Credit Card | Bank Transfer | Remittance Services | E-Wallet |
|---|---|---|---|---|
| Cost | Medium – High | High | Low – Medium | High |
| Speed | Fast | Slow | Very Fast | Fast |
| Accessibility | Platform-dependent | Widely accessible | Requires sign-up | User-dependent |
| Payment Flexibility | Yes | No | Varies by method | No |
There’s no one-size-fits-all solution when it comes to international money transfers. If you prioritise speed and convenience, sending money with a credit card can be a great option. However, if you’re aiming for lower costs and don’t mind a bit of waiting, digital remittance services or bank transfers may be more suitable.
Why Use Pay by Card on Transfez?
Using Pay by Card isn’t just about convenience—it also offers exclusive advantages that other payment methods can’t match.
1. Pay Now, Settle Later – Better Cash Flow Management
Take advantage of your credit card’s grace period, allowing you to defer payments to the bank without disrupting your cash flow. This means you can keep your business running smoothly without financial constraints.
2. Earn Credit Card Rewards
Every payment you make with your credit card earns reward points, cashback, or air miles, depending on your card issuer’s program. The more you use Pay by Card, the more benefits you unlock!
3. Fast and Hassle-Free Process
No more dealing with complex international bank transfers! With Pay by Card, simply upload your invoice and pay with your credit card. Transfez will handle the rest and send the funds to your recipient.
4. Global Coverage – Pay Invoices Worldwide
Pay by Card enables payments to multiple countries, including:
Thailand
Malaysia
India
Hong Kong
Singapur
Jepang
Inggris
Jerman
Belanda
Korea Selatan
Cina (AliPay)
Prancis
Belgia
Italia
More countries will be added soon to expand your business payment options!
5. Transparent Fees – No Hidden Costs
Unlike other international payment methods that often include hidden charges, Pay by Card ensures cost transparency with:
💰 Transfez Fee – A fixed fee for international transfers.
💳 Credit Card Fee – 2% of the total payment, including the Transfez fee.
How to Use Pay by Card
Getting started with Pay by Card is simple—just follow these easy steps:
- Enter Invoice Details – Select the destination country and enter the invoice amount.
- Upload Invoice & Provide Recipient Information – Ensure all details are correct, including the recipient’s bank details.
- Pay with Your Credit Card – Use any VISA, MasterCard, or JCB credit card to complete your payment.
- Transaction Processing & Fund Transfer – Once your payment is successful, Transfez will process the transaction and transfer the funds to your recipient’s account. You can also track the payment status in real time!
Why Stick to Traditional Transfers? Pay by Card Instead!
✔ Keep your business finances flexible
✔ Take advantage of credit card rewards
✔ Make international payments seamlessly
📌 Click here to start using Pay by Card and streamline your global payments today!
Consider your budget, urgency, and preferences before choosing the best method to send money abroad!
Download Transfez App
Transfez App can help you transfer money abroad more quickly and efficiently. Jack Finance can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.
