These days, more people than ever are sending money overseas to loved ones in need. There are also more options than ever before. But you want to make sure you use safe and quick ways to transfer money. Look no further than these top options.
1. Bank Transfers
Bank transfers are perhaps the easiest way to send money overseas to a friend or family member in need of quick cash.
If your bank has a mobile app, you can do this with a few simple taps on your phone. You can also log into your account on your computer.
Note that there may be added fees if you transfer cash overseas. In some cases, you, the recipient, or both of you will be responsible.
2. Western Union
Western Union has been around for decades and is considered to be the best service for transferring money. It is available as an international money transfer app. So if a loved one overseas needs financial help, you can send them cash quickly.
In some cases, the money will get to your recipient on the same day. Although there’s a fee, it’s cheapest if the person you’re sending money to has their own bank account. Those recipients may have to wait a week or longer for the money to reach them.
There are limits of amounts you can send to certain countries. However, if you only need to send a few hundred dollars, this option is fine.
PayPal is a great way to quickly and safely transfer money to your friends or family members overseas. It’s a trusted, well-known service that lets you send money to anyone. International transactions are safe and secure, easy and fast.
If your recipient has a PayPal account, funds go through immediately. However, you can also send money to a family member or friend who doesn’t have a PayPal account. There are fees for sending money, but the service is convenient and secure.
TransferWise allows you to transfer funds overseas to loved ones who need cash. You can secure very fair exchange rates. Additionally, if you are transferring money to a person’s bank account, you can immediately see how much you will spend in fees.
This service is best used if you are going to transfer under $10,000. If you need to send a larger sum, you should consider the next option.
OFX allows you to transfer money to people in more than 80 countries. What makes this app so attractive is that the exchange rates it charges are under one percent.
Plus, your transfers reach your recipient within one to two business days. Many other services can take up to or even longer than a week.
You have to send a minimum of $1,000 to a friend or family member, but there is no transfer limit.
6. Currencies Direct
If you’re looking for a fair money transfer service, you’ll enjoy Currencies Direct. There is no transfer fee and the funds get to your recipient quickly. There’s a cap at $25,000 per day, but this is a pretty high amount, so it’s likely not to inhibit you.
These quick ways to transfer money over a long distance will help you to get funds to your family members and friends in need.