A cross-border payment is a payment where the sender and recipient are in different countries.

As nations' economies become increasingly interdependent through trade and investment and as funds and people become more mobile globally, the need to move money across borders efficiently, securely, inexpensively and in a timely way intensifies.

Some businesses make regular cross-border payments and have very defined procedures in place for this. However, most of us will only make cross-border payments occasionally.

For more information on making cross-border payments and for advice on the best method of transfer for your situation and the fees that apply, you should speak to your bank.

APACS is the UK payments association and as such we can only give advice about what happens to money transfers before they leave the UK or when they arrive in the UK.