Business

Novo International Wire Transfer: How to Send and Receive Funds Globally

Panna Kemenes

25.03.25

Read time 2 minutes

Novo banking is an online-only financial services company which allows users to manage their finances domestically and internationally. You can use Novo’s business banking product to send and receive invoices, make transactions, and track your business expenses.

In this article, you’ll discover how to use Novo to send and receive international transfers.

How to Send an International Wire Transfer with Novo

Novo allows users to send and receive domestic and international wire transfers. In order to send a wire internationally, Novo has integrated with Wise Platform for low fees and great service. You'll find this in the 'Apps' tab of the Novo app.¹

Step-by-Step Guide

Before you send a Novo wire transfer, you’ll need to have the following information from your recipient to hand:

Name and address
Bank ID e.g BIC or SWIFT code
Bank account number in the destination country
Bank account currency

Here’s the step-by-step process you’ll need to follow to send international low-fee transfers with Novo:

Open the Novo app on your phone
Navigate to the “Apps” tab
Download the Wise integration in the 'Apps' tab of the Novo app
In the app, simply select “Move Money”
Finally, select “International Payment” and you can enter the details of the recipient and process your transaction

Common Mistakes to Avoid

You should take care to enter the correct bank ID for your recipient’s account, including IBAN (if applicable), SWIFT or BIC code, and the recipient account number.

Finally, be sure to send the transfer in your recipient’s local currency rather than in your own currency as you may be subject to higher conversion fees.

How to Receive an International Wire Transfer with Novo

Step-by-Step Guide

To receive an international wire transfer with Novo, the payer must send the funds in USD and you must use the following details for the transaction:

Beneficiary Bank Address: Middlesex Federal Savings One College Avenue Somerville, MA 02144
SWIFT: MFEDUS42
Beneficiary Name: The primary name associated with your Novo account
Beneficiary account: Your Novo account number
Beneficiary address: The address associated with your Novo account

Common Mistakes to Avoid

To receive an international wire transfer into your Novo account, you’ll need to provide the information outlined above to the payer who must pay in USD.

It’s also important to clarify beforehand whether you as the recipient or the payer will cover the wire fees and FX charges.

Novo International Wire Transfer Key Features

Novo makes sending and receiving international wire transfers seamless, and cost-effective.

Supported Countries and Currencies

Novo supports international transfers to 80+ countries and in over 50 currencies, including:

United Kingdom (GBP)
Eurozone countries (EUR)
Canada (CAD)
Australia (AUD)
Japan (JPY)
Mexico (MXN)
India (INR)
Brazil (BRL)
And many more

For the most up-to-date and accurate list, you can log into your Novo dashboard and view the transfer options based on destination and currency.

What Makes Novo Unique?

Novo stands out among other online banking options for its versatility and suitability for small businesses, startups, and freelancers.

Here are some key features which make Novo unique:

No monthly fees or minimum balance requirements: Unlike some banking options, Novo doesn’t charge monthly fees or require an initial deposit to set up your account
Smart invoicing and integrations: You can connect your Novo account with solutions and tools like Stripe, QuickBooks, and Shopify to get more from your banking experience
Mobile-first experience: It’s easy to manage your funds in Novo from your phone or laptop – even while traveling

Tips for Minimizing International Wire Transfer Costs

By sending the wire transfer in the recipient’s local currency, you can get the best value on both ends of the transaction.

Exchange rates can fluctuate on the weekends and holidays, so try to send international wire transfers during the work week if possible to keep costs down.

Source:

Novo
Sources checked March 2025

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.