Sending a large amount of money overseas can be daunting. Many people worry about whether they’ve chosen a safe provider, if the transfer is secure, what might happen if the money goes missing, or if they’ll be targeted by fraudsters.
These concerns are valid. In the UK alone, £1.1 billion was lost to fraud in 2024, according to the UK Finance Annual Fraud Report 2025. Losses linked to international payments nearly doubled in a year, rising from £25.9 million in 2023 to £49.9 million in 2024.
The good news is that transferring a large amount of money overseas can still be perfectly safe, as long as you use a trusted provider and take steps to protect yourself from fraud.
In this guide, we’ll walk through how to transfer large sums securely, explain why choosing the right regulated provider is essential, outline the main fraud risks and warning signs to watch for, and show you what steps to take if something does go wrong.
If you’re looking for a step-by-step breakdown of the transfer process itself – from setting up an account to completing the transaction – check out our guide on how to transfer large amounts of money internationally.
How to send large sums overseas safely and securely
Protecting your money when making a high-value international transfer comes down to choosing the right provider and following a few essential precautions. Here are the key points to keep in mind:
Key points for sending large sums safely
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Use a regulated, trusted provider.
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Check independent reviews and reputation.
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Prioritise providers with strong personal support.
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Always verify payment details independently.
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Protect your accounts with strong security practices.
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Watch for red flags like pressure tactics or unusual payment methods.
Using a safe, secure money transfer service
Whenever you’re sending money, it’s crucial that you use a regulated provider with an excellent reputation and strong security measures in place.
In the UK, this means choosing a company authorised by the Financial Conduct Authority (FCA). In the EU, providers should have authorisation from a national financial regulator, such as the Bank of Spain. In the US, look for companies that are registered with the Financial Crimes Enforcement Network (FinCEN) and licensed in individual states.
FCA authorisation requires companies to safeguard client funds, keep sufficient financial reserves, and follow stringent internal security processes such as risk management, audits, and reporting – all of which can help to keep your transfers safe.
With safeguarding, client money is kept in separate bank accounts to the money the company uses to run its business. If the company goes into insolvency, you’re likely to get most (if not all) of your money back.
Verify payment details and stay secure
You should also take care to verify payment details independently and double-check they’re correct before transferring funds overseas. For example, if you’re sending money for a property purchase abroad, call your solicitor directly using a trusted phone number to confirm the account details before making the transfer.
Being extra cautious can help you avoid a payment diversion scam (more on this later) and save you from accidentally entering incorrect details and transferring your money to the wrong account.
On a personal level, you can strengthen your security by using strong passwords, enabling two-factor authentication, and being cautious about sharing sensitive information.
Our security and fraud page has detailed guidance on creating strong passwords and how to keep your devices and communications secure, as well as keeping yourself safe from fraud.
By taking these steps, you can significantly reduce your exposure to fraud and error, keep your accounts secure, and ensure your money is transferred as safely as possible.
Why choose Currencies Direct for secure international transfers?
Currencies Direct has been helping individuals and businesses move money across borders since 1996. We’re fully authorised by the FCA in the UK and the Bank of Spain in the EU, and we’re registered with FinCEN in the US. We work with Tier 1 banking partners around the world, and have the highest credit rating from Dun and Bradstreet.
With us, your funds are safeguarded and your transfers are handled in compliance with strict regulatory standards. You can read more about our regulatory commitments on our security of funds page.
We also offer dedicated one-to-one support for all our customers. You’ll have your own personal account manager who’ll guide you through the process, answer your questions, and make sure your transaction runs smoothly from start to finish. Our customer service team is available 24/7, so we’re always here if you need support.
While security is our top priority, we also offer competitive exchange rates, no transfer fees, expert insights, and a range of tools to help you get more from your money.
With thousands of positive Trustpilot reviews, multiple awards and billions moved every year, Currencies Direct is a provider you can rely on for a secure, efficient and personal service. You can get in touch with us if you want to find out more or get a free quote.
Fraud risks in large international money transfers (and how to avoid them)
Even with the right provider, it’s important to stay alert to fraud risks and take steps to protect yourself. Global financial fraud costs individuals and businesses billions every year, and criminals are increasingly targeting high-value international payments because of the large sums involved.
Fraudsters use a variety of methods to try to trick people into handing over money.
Phishing scams
One of the most common threats in large international transfers is phishing. This is when criminals send emails or text messages that look like they’re from your bank or transfer provider, urging you to click a link and log in. The website you land on is fake, but it captures your details and hands them to the fraudster, who can then access your real account.
Impersonation fraud
Another common and closely related scam is impersonation fraud. Instead of trying to steal your login details, scammers pose as trusted professionals such as lawyers, estate agents or suppliers. They send what appear to be genuine invoices or payment instructions but the account details are fraudulent, so the money you think you’re paying to a legitimate party ends up in the scammer’s hands.
Red flags for large transfers: What to watch out for
Fraudsters often use tactics like pressure and confusion to manipulate people into sending money, but being able to recognise them can help you keep your payments safe. Four common red flags include a sudden change in payment details, urgency or pressure, unusual payment methods, and a lack of transparency.
A change in payment details
One of the most common and hard-to-spot warning signs is a last-minute change of payment details. Fraudsters can send sophisticated emails and texts that appear to be from people and institutions you trust – like lawyers, banks, or a family member – and tell you to send the money to the wrong account.
If anyone ever provides you with new bank details, it’s vital that you verify that they are authentic. Contact the person or organisation independently using a known email or phone number to check that the payee is genuine.
Urgency or pressure
If you’re being asked to make an urgent payment, especially where large sums are concerned, that is an immediate red flag. Criminals know that if you stop to think or verify the details then you’re less likely to fall for their scheme, so they often insist that funds must be transferred immediately.
They will often try to use psychological and emotional manipulation to rush you into acting impulsively. If you ever feel pressured to make a payment, then that’s the best time to pause, step back, and check that everything is genuine and secure.
Unusual payment methods
Legitimate money transfer providers will never ask you to send money through gift cards, cryptocurrency or other informal channels. If you’re being pushed towards these options, it’s highly likely to be a scam.
A lack of transparency
If a provider cannot clearly demonstrate that it is regulated, or if communication feels vague, unprofessional or overly pushy, you should step back and check their credentials. If something feels wrong, it’s best to trust your instincts and be extra cautious.
In general, it’s always best to err on the side of caution for any financial transaction, and this is especially true when large sums of money are involved. By taking the time to think things through and independently verify contact and payee details, you can significantly reduce the risk of falling victim to fraud.
What to do if you suspect fraud
If you believe you may have been targeted by fraud, it’s essential to act quickly. The first step is to stop the transfer immediately and contact your bank or provider to see if the payment can be intercepted.
You should also report the incident to the relevant authorities. In the UK, this includes the FCA and Action Fraud, while in the US you can report to the Federal Trade Commission.
It’s best to keep detailed records of all communications, including emails, texts or phone calls, as these may help in any investigation.
Finally, our customers can always reach out to the Currencies Direct team 24/7 if you have any concerns. Acting promptly can sometimes prevent further loss and may even help recover funds.
Frequently asked questions about safety and security when sending large sums of money overseas
Is it safe to transfer £100,000 overseas?
Yes, as long as you use a regulated provider, such as Currencies Direct, and take steps to protect yourself from fraud.
How can I check if a transfer company is legitimate?
The easiest way is to confirm that the company is authorised by the FCA. You can also look at independent reviews and check regulatory registers to verify their credentials.
Which is safer, using a bank or a money transfer specialist?
Both methods of transfer are just as safe, as long as the provider you’re using is genuine and regulated by the relevant bodies.
However, banks often charge higher fees and offer less competitive exchange rates, whereas money transfer specialists like Currencies Direct may offer better value and a personalised service, along with the same levels of security, making them a strong choice for large transactions.
What’s the safest way to transfer money for a property purchase abroad?
The safest approach is to use a regulated provider and always verify payment details directly with your solicitor or estate agent using a trusted phone number or email address. Fraudsters often send fake payment details by email, so never rely solely on instructions that arrive unexpectedly in your inbox.
Are large international transfers protected if the provider goes out of business?
Unlike bank deposits, transfers aren’t covered by compensation schemes such as the FSCS in the UK. However, FCA-authorised providers such as Currencies Direct are required to safeguard client funds in segregated accounts, which means your money should be returned if the company becomes insolvent.
How can businesses protect themselves when sending large international payments?
Businesses should confirm supplier bank details via secure channels, use strong internal payment controls, and work only with regulated providers. Additional checks, like multi-person approval processes, can help reduce the risk of fraud.
How quickly can I safely transfer a large sum overseas?
Transfer speed depends on the provider and destination country. Many large transfers can be completed the same day or within 1-2 working days. A reputable provider will balance speed with security checks to ensure your money arrives safely.
Can I track my large international transfer?
With Currencies Direct you can track your transfers in your online account or via the Currencies Direct app. This transparency can provide extra reassurance when sending large sums.
Can I get my money back if I’m scammed in an international transfer?
Recovering money lost to a scam is possible but not guaranteed. Acting quickly gives you the best chance of recovery, so contact your payment provider immediately if you suspect fraud.
In many cases, the provider can request a recall of funds through their banking partners, asking the receiving bank to reverse the payment and return the money. However, this isn’t always possible, and banks may decline a recall if they’re carrying out their own investigations.
For Currencies Direct customers, our team is available 24/7 on +44 (0) 20 7847 9400 or via Live Chat in our Help Hub. If you ever have concerns, please do get in touch straight away and we’ll do everything we can – the faster you act, the better your chance of recovering your money.
