Can I send money to a third country like China or Europe?

The question in full

The question 'Can I send money to a third country like China or Europe?' requires a two-part answer: one for the sender in the US and one for the recipient abroad. As of January, the One Big Beautiful Bill Act imposes a 1% federal excise tax on all outbound remittances funded by cash, money orders, or cashier's checks.

Answer

You can but only if one condition is met. The bank account to which the money is being sent must be in the same name as the payout partner with which the US solution provider (i.e. license holder) has signed a correspondent tie-up agreement.

For example, if there is a payout partner named ABC Transfers in Kano, Nigeria and they request payment to be made in Europe or China into a bank account of their choice, this cannot be done. The bank account has to be in the name of ABC Transfers, else the US solution provider will not agree to the transfer.

Transfers cannot be made to 3rd party bank accounts.

Can I send money to a third country like China or Europe?

Suggested Video(s)