Ash The Great | Oct 31, 2017 | 0
Best Way to Send Money to the US
The US dollar is popular to say the least, so it is hardly surprising that there are a great many ways to send money to the US. In this article, you will find several good ways to send money to the US, and you will find short reviews of numerous money transfer and exchange companies. The best transfer method is often a digital method, which is why I included several short reviews of money transfer companies. Each method that is listed in this article has its own level of convenience, economy and speed, and it is up to you to choose the best one for you.
Send Money to The US With TransferWise
Most US banks accept ACH transfers from third parties, so people should easily be able to use TransferWise to send money from their accounts to the bank accounts of US citizens. Depending up on the bank and the sending country, the transfer may be completed with a combination of wire transfer, SWIFT international payment, or ACH transfer. It usually takes between 2-3 working days for transfers to be completed. There are no hidden charges, and the company is very transparent. You are able to see how much money you are sending and how much will be received. Senders may fund the transfer with a bank transfer or a debit card, and the process is fairly straight forwards.
Send Money to The US With CurrencyFair
To use CurrencyFair, you need to set up an account and pick one of the two depositing methods on offer. Enter the amount you wish to send, and if you pick an auto-transaction, the system will find the best possible currency exchange rate. If your transfer is not time sensitive, then you may pick their other method of transfer where you set your own prices and then wait for another person to fill it. CurrencyFair is a fairly transparent company that doesn’t try to hide fees or skim from your exchange rate. The average commission is around 0.35%, and they have a website for PC users, an iOS app for Apple mobile users, and an Android app for Android users.
Send Money to The US With Western Union
Sending money to the USA with Western Union is incredibly easy, especially when you consider that there are over 45,000 Western Union locations in the USA. If you are looking to send money so that your recipient may pick up cash, then there is a good chance that your recipient lives within driving distance of a Western Union. Fees are a little high for sending money to the USA, especially when compared with other money transfer companies that are available in your country, and that are available only in the US. There is an app that you may using on your iPhone, iPad or Android device. Send money to your recipient’s bank account, or have that person pick the transfer up in cash. Sending restrictions are usually based on the laws of your own country if you are sending to the USA.
Send Money to The US With MoneyGram
MoneyGram has a habit of setting up locations within other companies, and they have formed partnerships with different companies, which means there are more places where your recipient may pick up his or her cash. For example, you may send your MoneyGram transfer to a Walmart in the USA and have your recipient pick up the money there. MoneyGram also allows you to transfer money to your US recipient’s bank account too. The money you send will usually clear in a bank account within 2-3 days, but there are some cases where you may have money picked up more quickly if needed. There is a cost estimating tool that may used to figure out how much each transfer is going to cost you and how much of your money will be sent.
Send Money to The US With PayPal
The great thing about PayPal is that there are so few fees and yet so many features. You are able to maintain different balances in different currencies without paying an extra fee. You are able to shop, withdraw and deposit without a fee, unless you are converting currency. PayPal makes its money by charging the recipient a fee when he or she receives money, but there is no charge if you send money between friends or family. You are able to send and request money, and you may choose which currency you send. When you receive a currency that is not your regular currency, then you do not have to convert it right away. You may leave it in your account and maybe spend it as it is, transfer somewhere else, and wait to convert it because you want a better market rate.
Send Money to The US With With A Bank Transfer
The great thing about sending money to the US is that most money transfer companies allow for transfers to the US, and there are plenty of places to exchange currency for US dollars. One of the most frustrating things about sending money to the US is how long it takes. There are plenty of reasons why it takes a little longer than with other countries, such as security checks, tax bureaucracy, and the receiving bank’s trying to save money. Your bank will probably have a method where you may transfer money from your account to the USA. Some may ask you to set up a special kind of paid account, and others may transfer you to their their online wire and exchange service.
Send Money to The US With A Check
You may convert your currency into US dollars and then write the check in US dollars, or you may write your check in your currency and the recipient will have to change your currency into dollars. Banks in the US are often happy to take checks from other countries and in different currencies, but the person who receives the check in the US will have to wait a few weeks for the check to clear. If you decide to convert your money beforehand, then don’t forget you have to keep your US dollars in an account that allows US dollars and that also allows you to write checks. Remember that many US banks will accept a check that is photographed, which means the long process of sending a check overseas by mail is avoided.
Send Money to The US With Bitcoin
If you can get your hands on some cheap Bitcoin where you are not paying over 15% more than the market value, then sending between $500 and $1000 worth of Bitcoin to a person in the US may turn out cheaper than if you were to transfer your money another way. A person in the US is going to have very little trouble converting his or her Bitcoin into US dollars. The transfer times are probably going to be quicker than most other transfer methods too. Paying a person in the US with Bitcoin is a great idea, you just have to ensure you have a place where you may buy Bitcoin for as close to its market value as possible.
Send Money to The US With An International Money Order
There is a very strong chance that a US recipient will accept an international money order, especially if the international money order is in US dollars and/or from one of the 27 countries that the USPS has set up deals with. All you have to do is ask your recipient in the USA if he or she is able to clear an international money order. Try to make sure that the international money order is in US dollars because the recipient will find it a lot harder to clear and cash an international money order that is in another currency.
The US has strict limits on how much money may be transferred via a money order, and your country will have its own limits. Plus the company you buy your international money order from will have its limits too. You may have to buy more than one international money order if you are looking to send a larger amount.
Send Money to The US With Skrill
I was surprised by how limited the currencies are with Skrill. I thought they allowed people to send a number of different types of currency, but they only allow the transfer of 40 currencies and US dollars is one of them. Skrill has sending fees and an unattractive exchange rate. I am also not a fan of the verification process. However, if your recipient already has a Skrill account, then Skrill may be the most convenient option.
Skrill is a fast method for transferring money overseas. In some cases, you are going to see transfers that occur in just seconds. It is a relatively safe way to send money if you know the person you are sending money to. Some sellers consider it to be a safer platform because PayPal allows people to get their money back if something goes wrong, but Skrill do not offer the same protection; a fact that works well for sellers.
Send Money to The US With World First
Make your transfer over the phone or online. There are no limits to the amounts you may transfer except for what is dictated by your country’s laws. World First deals with over 100 currencies, and it will take at least one business day before your transfer arrives. There are very few fees to be had, but that is because the company skims a little from the exchange rate in order to make its money. They offer forward contracts, scheduled payments, and one-off payments too.
Send Money to The US With OFX
Your transfer will take at least one working day, and there are no limits to your transfer besides what your country’s laws dictate. You may transfer your money online or over the phone. Set up regular payments, or one-off payments. There are very few fees that go with this account because they make their money by skimming a bit from the market exchange rate.
Send Money to The US With HiFX
With a minimum transfer of £100, you are able to send a transfer that will take between three and five days to arrive. You will be charged a $5 fee that is waived if you transfer more than $5000. Send your transfer over the phone or over the Internet, and set up a one-off payment or set up a scheduled payment. Your account allows you to convert to twenty currencies. The company makes part of its money from fees and part from slicing an amount from the market exchange rate.
Send Money to The US With TorFX
Set up a scheduled payment and regular payment with TorFX, or set up a one-off payment. The minimum transfer amount is $150, and it usually takes up to two days to reach the USA. Make your transfer over the phone, with an agent, or over the Internet. There are very few fees because they skim a bit from the exchange rate in order to make their profits. They deal with 60 different currencies.
Send Money to The US With Currencies Direct
It takes between one and two days for your transfer to arrive in the US, and the transfer company will not charge you a fee, but they will skim from your exchange rate. The most they will mark up your exchange rate is 2%. There is no minimum transfer rule, and you may make your order over the Internet or over the phone. Make one-off payments or scheduled payments.
Conclusion – Pick The One That Suits Your Circumstances
The best way to send money to the US is the way that suits your circumstances. It is pointless if I tell you that one method is better than another. For example, if you do not have a bank account, then an international money order is the most suitable. If you are already paid in bitcoin, then a bitcoin transfer would probably be the best. Pick the transfer method that suits your circumstances.