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Best Ways to Send Money Internationally

Best Ways to Send Money Internationally

We have written a few of these in our time, but I thought I would add an extra one into the mix because a few things have changed in the last few years. Checks are slowly dying out while transfer companies are on the rise. There are more people using Bitcoin and classic cash-money exchange companies are still making money despite the fact that most people want bank-to-bank transfers instead of bank-to-cash transfers. Plus, there are two transfer companies that are offering market rates without any catches.

Send Money Internationally With TransferWise

The great thing about TransferWise is that they show you your transfer information prior to having you sign up. You do not have to sign up and register in order to discover their rate or their fees. Visit their website home page and use the no-obligation tool to see how much your recipient will receive when you send money with TransferWise. The exchange rate is the same as the one you see on Google, so you do not have to worry about a poor exchange rate. In addition, all of your fees are shown up front. Instead of skimming from the exchange rate or adding fees on at the end, they show you all of their fees up front before you even sign up with them.

Send Money Internationally With CurrencyFair

Due to the fact that CurrencyFair doesn’t try to hide its fees, and due to the fact that it gives you the market rate for your currency exchanges, I consider it to be a top choice for people who wish to send money internationally. Their average fee is 0.35% of the amount you wish to send, and some transfers take hours, but on average you can expect to wait between 24 hours and 48 hours. One of the best things about this company is that you may put your money on their market and wait to see if somebody will exchange your money for the price you offer. It allows you to beat the market if you are willing to wait for your money conversion and transfer. There is a no-obligation tool you may use on their website to see how much your transfer will cost you if you transfer right away, and they have a Windows, Apple and Android app that you may use.

Send Money Internationally With Western Union

Western Union is a massive company with locations all around the planet. Some people complain about their fees because they are slightly higher than Western Union’s main competitors, but if you are looking to send money internationally and have it picked up in cash, then Western Union is a very strong competitor. There is a good chance that your recipient lives within driving or bus distance of a Western Union location. You may send money with your debit card or credit card, and you may even send money to a prison inmate. Western Union allows you to send money online to 200 countries, and there are over half a million Western Union locations dotted around the planet. Their exchange rates are not perfect, but they are not bad when compared to some of their smaller competitors.

Send Money Internationally With MoneyGram

Unlike Western Union branches, you often see MoneyGram agents pop up in a variety of different places. You are likely to see a MoneyGram agent inside another business. If you use MoneyGram to send money internationally, then you may transfer to over 400 banks around the world. They have just over 400,000 locations around the world, which is not bad when you consider that Western Union has just over 500,000. Many times, you are able to fund a transfer with cash or a bank transfer, but there are other methods of payment, such as payment by credit card or debit card. MoneyGram is known for having high fees, but higher fees seems to be a trend with companies that allow you to transfer money and have it picked up in cash.

Send Money Internationally With PayPal

There are plenty of good reasons to have and use a PayPal account, especially if you do not like giving out your bank and credit card details to people online and to websites. There are also numerous benefits for sending money overseas. One of the biggest benefits is the sheer speed at which the transfer is made. There are also no maintenance fees, no deposit fees, and no withdrawal fees. You will not have to pay to send money if you are sending to a friend or family, and you don’t have to pay a fee if you are sending to a stranger because it is the recipient who pays a small fee. There is a chance you may lose a little money if you have to send money and convert it too. You may have to pay a small fee in order to exchange the money before you send, and if you don’t pay a fee (you may or may not have to pay a conversion fee), you will still have to take PayPal’s exchange rate, and PayPal doesn’t have a great exchange rate. Otherwise, if you are looking to send money abroad, then PayPal is a very fine choice.

Send Money Internationally With With A Bank Transfer

Most large and High Street banks are going to offer you at least one way to transfer money overseas. Some are going to transfer you to a company they are partnered up with, and others will allow you to transfer from your online interface. Others may allow you to wire money by turning up in the branch, over the phone, or over the Internet. Some banks prefer that you set up a special account to transfer money overseas and that maybe allows you to receive money from overseas. Others require you to set up an account that you pay a monthly fee for that allows you to move money overseas and convert it as needed. Whatever your bank offers, it is up to you to decide if you use your bank. Some people prefer to use their bank because it is convenient and because it is easier. There are also some who feel that a bank is more secure, which is often true.

Send Money Internationally With A Check

There are one or two benefits to sending money internationally with a check, especially since the old problem of posting it and waiting for it to clear seem to be disappearing because more banks are accepting mobile deposits. If your recipient’s bank allows for mobile deposits, then you may simply write a check, photograph it with your phone, and then send the photo. You are going to have to decide if you are going to convert the money or your recipient is. If your recipient doesn’t mind receiving a check in your currency, then the recipient will have to pay conversion fees and wait up to seven weeks in order for the check to clear. If you are sending the check in the currency of your recipient, then you will have to find an account where you may store your other currency, and an account that will allow you to write checks for that currency. Using checks as a way to send money internationally is usually expensive for somebody (either the recipient or the sender), and it becomes more expensive if a currency conversion is involved. Nevertheless, sending a check is a legitimate way of transferring money over from your account to an account overseas.

Send Money Internationally With Bitcoin

If you are looking to send money internationally with Bitcoin, then you have a mixed decision to make. Some people in some countries will have a hard time converting your Bitcoin into something they can use in shops or to pay bills. On the other hand, there are some countries and some areas where a person with Bitcoin is able to make a tidy profit on the Bitcoin you send. If you send money as Bitcoin, then your transfer fee is going to be comparatively low compared to other transfer methods; the cost of transfers are usually around the same price no matter if the Bitcoin is worth thousands or hundreds. When paying people overseas with Bitcoin, the hardest part is finding Bitcoin for a good price. If you are paying more than 10% over the market value, then you are out of luck. In some countries and in some areas, you are going to have a hard time finding cheap Bitcoin.

Send Money Internationally With An International Money Order

An international money order may be converted to the currency of the recipient in many cases, but a downside to that is that it often takes a long time for the international money order to clear and cash. There are some countries that have set up deals with international money order issuers so that international money orders are cleared more quickly. You do not need a bank account in order to buy and send an international money order. The downside is that it takes so long for your money to end up in the recipient’s bank account when you factor in the buying time, the sending time and the amount of time it takes the recipient to clear and cash the international money order. Money orders are fairly secure because they have the name of the recipient written on them, which makes them pointless to steal. However, it is possible to forge an international money order in order to steal the money being sent, but it takes more skills than the average thief has. An international money order is an okay method for sending money overseas, but there are quite a few better, quicker and cheaper ways.

Send Money Internationally With Skrill

There are many good ways to send money internationally, and I wouldn’t have normally considered Skrill to be one of them. However, the rise of bitcoin has seen more and more people using Skrill, especially in the Middle East and South Asia, so it gets a mention in this article. It is true that Skrill is a lesser form of PayPal with far fewer features and an uglier verification process. Nevertheless, if you are transferring money overseas, you may find a few people who have a Skrill account because they trade or deal with bitcoin. As far as the process of transferring money goes, it is no better or worse than any form of online wallet. The biggest difference is how you are verified, sending limits, receiving limits, features and security. There are other online wallets out there that are better than Skrill, but if your recipient already has a Skrill account, then it is probably easier and more convenient to transfer your money internationally with Skrill.

Conclusion – There Are Many More Variation

Each of the items on this list has a number of variations. The only ones that are “currently” unique are the money transfer companies near the beginning. If you are shopping around for a better or faster method for transferring money internationally, then you have more choice than it first appears.

International Money Orders

You may buy international money orders in more places than just your local post office. There are private companies that are happy to send them or to send their version of international money orders. I have seen them advertised in WalMart before now.

PayPal And Skrill

Online wallets are becoming more common and maybe more trusted (maybe). There are plenty of others besides PayPal and Skrill, and they are being hosted by trusted names such as Google, Apple and so forth.

MoneyGram And Western Union

I admit that there is less variety in this case. MoneyGram and Western Union have cornered the market internationally to the point where finding another company where you may send cash and pick up cash is more about luck and location than anything else.


I have not yet found another company that is as trusted as this one where you are able to put money on an exchange market and wait for the price you want.


Almost every transfer company I come across has a policy of making profit by skimming from the exchange rate. Only Transferwise and CurrencyFair are offering market rates, but I am hopeful that more companies will follow the trend they are setting.

Bitcoin, Checks And Banks

There are plenty of national and international bitcoin markets and exchanges to buy from. Many banks offer paper checks to go with checking accounts, and there is a rich variety of banks to choose from if you wish to send bank transfers overseas.

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

1 Comment

  1. Etienne

    Something big is happening and the global bank system is changing…Cryptocurrencies are a great way to change and make it fair. Offshore banking has to deal with it.


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