What Is an International Wire Transfer?
An international wire transfer sends money electronically from one bank account to another in a different country, typically via the SWIFT network.Depending on your bank, you can initiate it online, by phone, or in person.
Challenges with Traditional Process
| Stage | Description |
|---|---|
| Information Entry | Manual input of bank name/ address, SWIFT/BIC, IBAN, recipient details. |
| Fees & Exchange Rates | High fees ($40–$50) and unfavorable exchange rates. |
| Processing Time | Usually 1–5 business days, sometimes longer. |
| Correspondent Banks | Multiple intermediaries may be involved, adding cost and delays. |
How Dogpay Reinvents the Experience
Dogpay offers a streamlined, secure, and transparent alternative:
| Feature | Traditional Wire Transfer | Dogpay Enhanced Wire Transfer |
|---|---|---|
| Process Simplicity | Multi-step manual form fills; error-prone | Smart UI auto-validates bank information |
| Fee Transparency | Expensive fees & marked-up FX | Clear pricing, low fees, near mid-market rates |
| Speed | 1–5 days settlement | Real-time or same-day transfers |
| Intermediary Routing | Complex correspondent bank routing | Simplified, fewer middlemen for cost & delay reduction |
| Security & Compliance | Basic bank controls; manual logs | MFA, AI fraud detection, audit-ready records |
| Global Flexibility | Country-by-country formatting quirks | Unified global setup; supports multi-currency/stablecoins |
Suggested Visual Flow (for infographic or blog figure)
- Traditional RouteLog in → Enter beneficiary and bank details → Review FX & fees → Initiate wire → Wait days for funds to settle
- Dogpay RouteOpen app → Auto-fill recipient bank details → Input amount/currency → Preview cost & FX → Transfer instantly → Receive confirmation & audit link
