4 Quick Ways To Transfer Money Internationally

Traditionally transferring money from one place to another was not only an arduous task but in some regions almost impossible.

It wasn’t until the 19^th century that wire transfer originated that made transferring money easier than ever before. The establishment of wire transfer gave rise to many companies that made this possible and now we have further revolutionized this industry that now allows us to transfer money without the need of their being a bank involved. Currently, we can send money to the direct recipient in a matter of seconds.

Let’s look at four companies that allow us to transfer money quickly and easily.

1. Western Union

Western Union is the most popular method of transferring money internationally. Not only does Western Union provide quick and easy money transfer, but it’s also renowned for allowing senders to transfer money in different ways like credit or debit card transfer, bank transfer, online transfer, and wire transfer. There are also a ton of physical locations of Western Union around the globe. Similar to other modes that permit you to transfer money, the fees charged for money transfer depend upon the amount of money you wish to transfer, where the money is to be sent and the method you want to use for transferring.

2. MoneyGram

MoneyGram is an international company that was previously called Travelers Express. MoneyGram is a quick way to transfer money internationally because it has numerous physical locations all over the world. One of the advantages of transferring money via MoneyGram is that you have an option to do this online as well. The fees charged for transferring money via MoneyGram depend on your mode of payment, where the money is to be sent, and how much money you wish to transfer over. The recipient can easily pick up the money from a nearby MoneyGram location or from a bank.

3. Xoom

Xoom is a financial company that was purchased by PayPal in 2015. This company allows you to send money from the USA to a multitude of other countries around the world. With Xoom, you can transfer money online and send it straight to someone else’s bank account or even to a particular destination so the recipient can come to collect the money in case they don’t own a bank account. Keep in mind that if you wish to transfer money via a credit or debit card, you may be charged extra money. The fees charged for transferring money depend on various factors.

4. TransFast

TransFast is a US-based company that allows you to transfer both US and Canadian dollars to other countries around the World. TransFast allows you to transfer money into a bank account or have the recipient collect payments if they don’t have a bank account. It also allows you to view the exchange rates before you go ahead and make the transfer. The fees charged for this transfer depends on whether you transfer the money online or use an agent location.