How To Safely Send Money Overseas- Top 5 Ways

By Ashutosh Jha → Last Updated on Thursday, September 6, 2018
Whether it is for business or personal reasons, many people now have the need to send money overseas. It could be anything from sending payments to an international supplier to receiving money from home while in a foreign country for your birthday. This has seen people searching for the best way to send money overseas safely and securely. If you are currently needing to find an easy way that protects you while moving your money, then there are some great choices out there.

[Image: 5 Ways to send money to overseas easily]

Best and safest ways to transfer money overseas

There are a few different options that you can choose from when it comes to sending money internationally. All represent a different way to do this and mean that you can find the best one for you. The most common ones are listed below:

#1 Online foreign exchange companies

One of the most popular ways to move money internationally now is via online foreign exchange companies. These companies make it easy to send or receive payments along with being secure. They also have no fees when compared to other methods and usually offer much better exchange rates. Finding the best overseas transfer rates is definitely worthwhile so that you get the best value when you transfer your money. When using this sort of method, you have the freedom to pick the company that is offering the best rates on the day.

#2 Bank transfer

This was at one time the main way that people transferred money between countries. This method is simple and secure with lots of regulations in place to protect your money. The drawback with bank transfers though is the length of time that the transfer can take, the lower exchange rates that you must use, and the bank fees that are applied to each transfer.

#3 Electronic payment solutions

Another way that people send or receive payments internationally now is with e-solutions such as PayPal. As with using FX companies, these usually offer quick transaction times and a secure way to do it. However, they do usually incur fees when moving money out of your home country, which makes them less popular than pure FX companies.

PayPal: PayPal is a leading online payment solution to send money almost ever where. If you need money within a day or two, you can use the PayPal. But for real-time money, this may not be helpful as it takes around a day to transfer the money to your bank account from your PayPal account. Also, I found PayPal charges on higher side for the receiver. For example, if you are sending someone $100 in India then the person will just receive around $95. Also, the conversion is way less than the market conversion rate.

Payoneer: Payoneer is another leading online payment solution. You can consider Payoneer as an alternative to PayPal. The best thing is with some imitated amount of money, Payoneer doesn’t charge any fee and the conversion is also at the higher side than PayPal.

There are many more solutions for money transfer to overseas. You can use Perfect Money as well wherever PayPal or Payoneer is not available. And then further you can transfer perfect money to PayPal.

#4 International money orders

When it comes to safe ways to send money, this is another method to consider. These can be purchased at your local post office and are then sent in the regular mail to the recipient. Naturally, this is much better than sending cash in the post! These orders are also replaced easily if lost in transit. The main drawback here is that they take longer to arrive than with transfer online.

#5 Money Transfer Operators

Money transfer operators are those companies which offers the transfer of money from one location to another location or even between the countries. They exist at ground like any other banks and you can visit them and transfer the money overseas.

Sending money overseas by the operator is an idea solution if you are looking to send the money quickly from one country to other. Such services can be availed both online and offline. And it has been seen that money transfer operators being heavily used in the location where PayPal is not available or those not having PayPal account. Here are some of the money transfer operators-

Western Union Money Transfer: Western union is one of the leading money transfer operators able to send your money to 4000+ locations worldwide. Using Western Union, you can send the money via online or mobile to some location. The best thing with Western Union is, either you can send money directly to the recipient bank account or the person can even collect the money from the western union branch as well.

Western Union is best suited if you need funds immediately. The fee that Western Union will charge you for the money transfer depends on the location. If you are willing to send $1000 to USA, you need to pay around $1028 while for Europe you need to pay $1058.

MoneyGram: MoneyGram is an alternative to western union for sending the money abroad. Again, similar to western union, you can send money to someone’s wallet, account, or let the person pick the money from MoneyGram branch. Worldwide, MoneyGram has over 300k branches.

The cost of sending the money to other country through MoneyGram is cheaper than Western Union. To send $1000 to USA, you will have to pay just $1020 while for Europe it is same as $1058.

Find the best way to transfer money safely

Of course, it goes without saying that you need to find a way that lets you transfer money overseas securely and easily. You do not want to send a large amount of money abroad only to discover that it doesn’t arrive or gets lost. Any of the above money transfer methods are great options for making sure that your payment arrives safely. Just do your research first to ensure that any company that you use to help make the transfer is reputable first.

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Ashutosh Jha

Ashutosh Jha is a professional blogger, Blog and IT Consultant. He writes about Blogging, SEO, Making Money, Internet Marketing and Web Design.
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