International Money Transfers: Main Options

Back in the day, sending money abroad was quite a difficult process, and the options you had in this department were not that many. Well, luckily, things have changed for the better nowadays, and numerous international money transfer methods have appeared. However, with increased variety, safety concerns have also arisen. How do you know your money will arrive safely to your chosen recipient? Is your international transfer entirely protected? If you are interested in sending money internationally, then you should know the best options available today:

Online payment services
An online money transfer has become the most preferred option for users, due to the increased convenience it comes with. Because it only requires you a few minutes spent on your computer to actually send the amount desired to your chosen receiver, selecting the online option for an international money transfer is an appealing prospect. Numerous online payment services and money transfer apps have appeared, which make the entire process easy and convenient, but if you want to benefit from increased security, chose a service that is characterized by reliability, doesn’t come with hidden fees, and guarantees the transfer of your amount. PayPal is probably the most popular choice in this department, allowing users to send money to somewhere around 190 countries in 20 different currencies. Because you can track the exchange rate, you will be able to know exactly how much money you are spending on conversion. For cash withdrawal access however, the process can take even up to 7 business days.
Transfers through operators
Companies with ground locations, which give you access to moving money across different location, even internationally are called money transfer operators. This type of service, being extremely fast, and offering an offline cash transfer alternative is constantly used by numerous people.
Money Gram and Western Union are the safest and most popular choices of operators.
Money Gram – from same day to next day transfer speed, Money Gram is a great service for sending fund in emergency situations.
Western Union – from mobile wallet, to bank account or in-person pickup, through Western Union you can safely transfer your desired amount, and the recipient can get a hold of even on the same day.
Wire transfers
Bank wire is an often pursued method of transferring funds, with both online and in-person options. The pro of a wire transfer is the increased safety you can access, while the cons are the high fees you might be subjected to pay, as well as the need for the recipient holding a bank account. It’s recommended to resort to this alternative when you want to send large amounts.
Whether you want to send money to a friend, family member or your partner, making sure you use a safe method, and your money is actually delivered to the right recipient is of course one of your concerns. Although there are various options you have the possibility to use nowadays, not all of them provide you with the same level of security, so analyzing all possibilities and selecting a reliable one is something that needs your attention.