Is It Safe to Send Money Abroad? How to Check a Provider Is Licensed
In this guide
Quick answer: Sending money abroad is generally safe when you use a provider that is licensed or authorised by your country’s financial regulator. Before you pay, look the company up on the official register (in the UK, the FCA Firm Checker), confirm the contact details match, read the pre-payment disclosure, and keep your receipt. If you cannot find the provider on an official register, do not send money.
The risk comes from unlicensed operators, look-alike apps and pressure to pay fast, so a few minutes of checking before your first payment is time well spent. This guide is part of our complete resource on sending money home from abroad.
What does “licensed” or “regulated” mean?
A regulated provider has been approved by a financial regulator, follows rules about how it handles customers’ money and must meet disclosure standards. The regulator and the rules differ by country, but the idea is the same: there is an official body you can check and complain to.
How to check a provider in the UK
- Go directly to the FCA Firm Checker. The FCA says to always use its own website address rather than links in emails or on company websites.
- Compare the firm reference number (FRN) and contact details you have been given with those on the register.
- If the register has no contact details for the firm, or the firm says they are out of date, call the FCA on 0800 111 6768.
- Remember that some scammers clone authorised firms, so contact the firm only with the details shown on the register.
How to check a provider in the United States
US federal rules for international transfers apply to electronic transfers over $15 sent through a remittance transfer provider. Banks and other financial companies can qualify as providers; a company that made 500 or fewer transfers in both the prior and current calendar years does not, and the federal protections do not apply to its transfers. Providers must disclose fees, taxes, the exchange rate and the amount the recipient is expected to get, before and after you pay. Beyond that, check your state financial regulator to see whether a company is licensed in your state, and be wary of any company that cannot show a licence.
Other countries
Search for the financial regulator or central bank in the country you live in and look for a “register” or “licensed firms” page. If you cannot find one, treat that as a warning.
Safety checklist before you send
| Check | What to look for |
|---|---|
| Licence | The provider appears on the official register, and details match. |
| Pre-payment disclosure | Total cost, exchange rate and amount received are shown before you pay. |
| Official app or site | You typed the address yourself or used the official app store. |
| No pressure | Nobody is rushing you or asking you to keep it secret. |
| Receipt | You get a receipt with delivery time, cancellation and complaint details. |
| Recipient details | You double-checked name, account number and payout location. |
What protections do you have?
Under US remittance rules, you can generally cancel an international transfer within 30 minutes of paying, as long as the money has not been picked up or deposited, and there is no fee to cancel. You have 180 days to report a mistake, counted from the date the provider gave as when the money will be available, and the provider generally must investigate within 90 days. If the issue is not resolved you can complain to the CFPB. Protections elsewhere vary, so check your own regulator.
Safe is not the same as cheap
A licensed provider can still be expensive. Compare the amount your family will receive, not just the fee, and read how hidden fees and exchange rate markups work. Also learn the tricks scammers use in our guide to money transfer scams. Once you have chosen a provider, how to use a money transfer app for the first time walks you through the first payment.
Frequently asked questions
Is it safe to send money through a bank?
Banks are regulated, but that does not tell you the price. Safety and cost are separate questions, so compare the amount received.
Is an informal or personal transfer network safe?
The disclosures, cancellation window and error-reporting rights described above apply to regulated remittance providers. With an informal channel, check whether you would have any of them, and who you could complain to if something went wrong.
How do I know an app is not fake?
Download it from the official store and check that the company is on your regulator’s register.
What if the recipient never got the money?
Contact the provider straight away with your receipt and reference number. In the US you have up to 180 days to report a problem, but earlier is better.
Key takeaways
- Verify the provider on the official register before you pay.
- Go directly to the register; do not use links sent to you.
- Read the disclosure and keep the receipt.
- Safe and cheap are different; check both.
Related guides
- Sending money home from abroad: the complete guide
- Hidden fees in international money transfers
- Money transfer scams and how to avoid them
- How to use a money transfer app for the first time
- Your first 90 days in a new country
This article is general information, not legal or financial advice. Regulation differs by country, so always check your local regulator. Last updated: October 2026.
Sources
- Financial Conduct Authority (FCA): Protect yourself from scams
- Consumer Financial Protection Bureau (CFPB): Sending money abroad