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Plan to send money home during Covid-19? What you need from your recipient

17 Apr 2020 - Category: Money
covid19

With Covid-19 continuing to disrupt our daily routines, it’s no surprise that this pandemic is impacting the ways in which we transfer money abroad. Whether you’re having to self-isolate, your preferred agent is closed or you’re following social-distancing guidelines, it might not be possible to send money to your friends and family in your usual way.

Thankfully, you can still send a direct-to-bank deposit from your Small World account, a practice already preferred by many of our customers and one which is increasingly popular.

In fact, even if your usual branch or agent remains open, you should consider this method for the following three reasons:

  1. It can be done online, from your home, and is therefore in accordance with the current social-distancing guidelines
  2. Extra measures are in place to stop the spread of Covid-19 and you may experience long queue times in those shops that remain open
  3. A direct-to-bank deposit is a safe and efficient way to ensure you recipient receives their money

Once you have registered via our website or app, all that’s left is for you to collect the relevant information from your intended recipient and then you’re all set to make that direct-to-bank deposit.

How to transfer money to your recipient

Depending on where they live, there will be specific details that your intended beneficiary must provide you with. We transfer to over 90 countries and each one will have their own requirements. Below are the details of our top 10 bank deposit countries and the information a recipient will need to provide you with to receive their money.

Send money to Colombia

Currency: COP (Colombian Peso)

Required Beneficiary Information: Full Name, ID (Cedula/RUT for Individuals, NIT for companies or businesses), phone number, city, bank name, bank branch city, account number, bank account type (checking or savings), purpose of payment

Delivery Time: Next business day

Send money to Philippines

Currency: PHP (Philippines Peso)

USA (United States Dollar)

Required Beneficiary Information: Full Name, phone number, city, bank name, bank branch city, account number (8 – 11 digits), purpose of payment

Delivery Time: Next business day

Send money to Nigeria

Currency: NGN (Nigerian Naira)

Required Beneficiary Information: Full name, phone number, city, bank name, bank branch city, account number (10-digit Nigerian Uniform Bank Account Number (NUBAN)), purpose of payment

Delivery Time: In minutes

Send money to Brazil

Currency: BRL (Brazilian Real)

Required Beneficiary Information: Full name, phone number, state and city, tax ID (CPF for individuals/CNPJ for companies or businesses), bank name, bank branch code, bank account number, bank account type (checking or savings), purpose of payment, sender’s relationship

Delivery Time: Same day Additional Requirements: For some account types, such as Poupança Caixa Fácil, there are some limitations. For transactions above 40,000.00 BRL, Registro Geral (RG). For transactions above 100,00.00 BRL Registro Geral (RG) and proof of address will be required

Send money to Bangladesh

Currency: BDT - Bangladesh Taka Required

Beneficiary Information: Full name, phone number, city, bank name, branch name and address, bank account number, purpose of payment Delivery Time: Same day

Send money to Ecuador

Currency: USD – United States Dollar Required

Beneficiary Information: Full name, ID (Cedula de Indentidad), phone number, city, bank name, bank branch city, bank account number, purpose of payment

Delivery Time: Next business day

Send money to Venezuela

Currency: VES – Venezuelan Bolivar Soberano Required

Beneficiary Information: Full name, Tax ID (Registro Unico Tributario / RUT Number), phone number, city, bank name, bank branch city, account number, purpose of payment

DeliveryTime:1/3 business days

Send money to Pakistan

Currency: PKR – Pakistan Rupee

Required Beneficiary Information: Full name, phone number, city, bank name, bank branch city, account number (24-digit IBAN), purpose of payment

Delivery Time: Next business day

Send money to Sri Lanka

Currency: LKR – Sri Lanka Rupee

Required Beneficiary Information: Full name, phone number, state and city, bank name, account number, 7-digit routing code, purpose of payment code, nature of the remitter and beneficiary relationship, purpose of payment

Delivery Time: In minutes up to next business day

Send money to Dominican Republic

Currency: DOP – Dominican Republic Peso USD – United States Dollar

Required Beneficiary Information: Full name, phone number, city, bank name, bank branch city, account number, purpose of payment

Delivery Time: Next business day

To summarise, in all cases your recipient must:

  • Know who you are
  • Have a bank account
  • Know the equired beneficiary information for their country

    With everything above in place, you can continue to support your friends and family abroad in an efficient and safe manner. In this way Small World can help to minimise the impact that Covid-19 is having on the lives of you and your loved ones.

    If you want to send money to a friend or family member in a country not listed above, and need to know the requirements for that specific country, click here. You can also stay connected to Small World’s global network of agents by clicking here and finding out how your destination country is being impacted.

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