How to Send Money Overseas
Thanks to new advancements in digital technology, sending money overseas is now a breeze. Computerized operations and the internet have made money orders and bank transfers a bit quite obsolete. These days, many quick, convenient, secure and less expensive options for sending money are available online.
Thanks to new advancements in digital technology, sending money overseas is now a breeze. Computerized operations and the internet have made money orders and bank transfers a bit quite obsolete. These days, many quick, convenient, secure and less expensive options for sending money are available online.
Sending money online is commonly known as cash transfers. Among the more popular means of doing this are through Western Union, Moneygram, Paypal and Xoom. A pioneering money transfer provider, Western Union, has close to 200,000 branches scattered all over the world. It has a very versatile website that can provide customers with an estimate of the cost of sending money to any of the 190 countries and territories where it operates.
Western Union and Moneygram can both send money overseas via phone or online. A unique control number is provided for each transaction to make the whole transfer process safer and faster. Either a credit card or debit card can be used to pay both online and phone transfers. An hour is all the time needed to complete the actual transfer but this still depends greatly on the location and online facilities of the recipient. It would speed up the whole process even more if the recipient can present proper identification as well the transaction control number. Claiming the money sent would truly be a breeze then.
Western Union and Moneygram still offers the older type of money transfer service, which requires a sending money agent and a receiving money agent. Transactions done this way has to be paid in cash though. To access a list of money transfer agents of both companies, just go and check out their websites.
An email address and a credit card, meanwhile, are the basic requirements to transfer money via Paypal. An eBay company, Paypal boasts of more than 95 million members all over the world. It is committed to providing a secure, convenient and quick payment system using advanced fraud prevention mechanisms. It is operational in more than 50 countries worldwide.
Register first with its website before you send money via Paypal. Have your credit account verified online then enter the recipient's email address and the amount to be sent. Double check the entries before clicking on the send button, and that's it. Money is sent quickly, conveniently and inexpensively across countries.
Another online service that is fast becoming popular is Xoom. Its website also features a cost calculator in a very user-friendly format. Now avaiable in 39 countries, Xoom operates 24/7, and is known to offer the lowest rates. Still, actual costs differ mainly as a result of the amount of money to be sent and the online facilities present in the location of the recipient.
Aside from these online ways of sending money, transfers can be done through banks and money order methods. One easy way of doing this is through checks. However, checks can be easy and inexpensive to send but the same is not true for the recipient who could suffer hefty deductions from the actual amount sent. Depending on the location, encashing a check could take four weeks to as much as six weeks. Plus, foreign-drawn checks are not honored in certain banks.
For non-bank customers, wire tranfer is an option. Although more costly, wire transfers complete the whole sending process in 10 hours or less.
Thanks to new advancements in digital technology, sending money overseas is now a breeze. Computerized operations and the internet have made money orders and bank transfers a bit quite obsolete. These days, many quick, convenient, secure and less expensive options for sending money are available online.
Sending money online is commonly known as cash transfers. Among the more popular means of doing this are through Western Union, Moneygram, Paypal and Xoom. A pioneering money transfer provider, Western Union, has close to 200,000 branches scattered all over the world. It has a very versatile website that can provide customers with an estimate of the cost of sending money to any of the 190 countries and territories where it operates.
Western Union and Moneygram can both send money overseas via phone or online. A unique control number is provided for each transaction to make the whole transfer process safer and faster. Either a credit card or debit card can be used to pay both online and phone transfers. An hour is all the time needed to complete the actual transfer but this still depends greatly on the location and online facilities of the recipient. It would speed up the whole process even more if the recipient can present proper identification as well the transaction control number. Claiming the money sent would truly be a breeze then.
Western Union and Moneygram still offers the older type of money transfer service, which requires a sending money agent and a receiving money agent. Transactions done this way has to be paid in cash though. To access a list of money transfer agents of both companies, just go and check out their websites.
An email address and a credit card, meanwhile, are the basic requirements to transfer money via Paypal. An eBay company, Paypal boasts of more than 95 million members all over the world. It is committed to providing a secure, convenient and quick payment system using advanced fraud prevention mechanisms. It is operational in more than 50 countries worldwide.
Register first with its website before you send money via Paypal. Have your credit account verified online then enter the recipient's email address and the amount to be sent. Double check the entries before clicking on the send button, and that's it. Money is sent quickly, conveniently and inexpensively across countries.
Another online service that is fast becoming popular is Xoom. Its website also features a cost calculator in a very user-friendly format. Now avaiable in 39 countries, Xoom operates 24/7, and is known to offer the lowest rates. Still, actual costs differ mainly as a result of the amount of money to be sent and the online facilities present in the location of the recipient.
Aside from these online ways of sending money, transfers can be done through banks and money order methods. One easy way of doing this is through checks. However, checks can be easy and inexpensive to send but the same is not true for the recipient who could suffer hefty deductions from the actual amount sent. Depending on the location, encashing a check could take four weeks to as much as six weeks. Plus, foreign-drawn checks are not honored in certain banks.
For non-bank customers, wire tranfer is an option. Although more costly, wire transfers complete the whole sending process in 10 hours or less.