EFY expanded its settlement network to send funds to local accounts in 17 countries across the region. This coverage lets individuals and businesses manage cross-border payments from a single platform, without opening an operating account in every destination.
What changes for users?
When using an available local route, the recipient can receive funds in their bank account or another enabled method in the destination country. EFY brings together transaction tracking, the rate, and the fee in a single flow.
Availability depends on the country, the currency, the account type, and applicable compliance controls. Before confirming, the platform discloses the enabled route and the estimated total the recipient will receive.
A centralized operation
For a business paying vendors, contractors, or teams across multiple markets, this coverage reduces the need to coordinate separate platforms. From EFY, you can:
- prepare payments to different destinations;
- check the status of each transaction;
- review the rate and the fee before authorizing;
- keep a centralized record of transactions;
- use approval workflows when the product has them enabled.
Settlement times can vary. Banking hours, the country, compliance review, beneficiary information, and the availability of each rail all play a role. That’s why the time shown on the platform for a specific transaction is more relevant than a general estimate.
How to get started
Check that the country and currency you need are available for your account. Then register the beneficiary, validate their details, and request a quote. Before confirming, you’ll see the source amount, the rate, the fee, and the estimated destination total.
If you manage payments for an organization, learn about EFY for business and the cross-border payments infrastructure. You can also check out how fees and exchange rates work.