How International Money Transfers Actually Work

Ever wondered what actually happens when you click "send"? Here's the behind-the-scenes journey of your money from your UK bank to your family's wallet in Asia.

Step 1: Collection

When you initiate a transfer, LanovaPay collects your money via Open Banking (instant bank transfer) or debit card. The funds are placed in our safeguarded account.

Step 2: Conversion

We convert your GBP to the destination currency (e.g., PKR, INR, NPR) at our published rate — mid-market plus 0.4% margin.

Step 3: Payout

We instruct our payout partner in the destination country to release funds to your recipient. For mobile wallets, this happens in minutes. For bank transfers, it depends on local banking hours.