Sending Money Overseas is Easier Than You Think
Transferring Money Overseas
Transferring money internationally is easy to do online. You can send money through a money order, an international bank transfer, or an online money transfer company, among other options. Here’s what you need to know about transferring money overseas.
How to Send Money Online With a Credit Card
People who don’t know how to send money online with a credit card often use fee-heavy services such as Western Union or MoneyGram. Although credit cards typically charge fees for such transfers, these are usually more affordable than international money orders, especially if you’re part of a reward program that gives you cashback or frequent flyer miles.
This method is also quicker than most. To send money through credit card services, you can make the transfer on the card’s website or allow PayPal to charge your card and send the funds itself. Before you send money through credit card services, remember that some providers don’t accept credit cards as payment.
How to Transfer Money Overseas Without Fees
Just about everyone wants to know how to transfer money overseas without fees, but doing so is difficult unless you use a roundabout method such as cryptocurrency. However, many online transfer companies offer free international transfers over a certain dollar amount.
For example, the Australian online money transfer company OzForex allows free overseas transfers of sums above $10,000. To transfer money through a transfer company, just set up an account with the company online, and make the transfer online or over the phone. You can also visit a transfer company store in person and give them the cash to send overseas. This transfer method is nearly instantaneous, but it can be pricey.
You might prefer to send an international money order instead. Many banks can give you a international guaranteed check that you can send overseas by mail, and your friends or family can cash the check at a local bank. This method is slow, but some banks charge low fees for money orders.
Finally, you can ask your bank to make an international bank transfer. This method takes two to five days, and the bank sends the money directly to an international account.
How to Transfer Money to Mexico
Just about any of these transfer methods can let you transfer money to Mexico, but TransferWise, a money transfer service, is another popular option. To use TransferWise, you just input the amount you want to send on the service’s app and tap a button. The money can come from a debit card, credit card, automated clearing house, or wire transfer.
How to Transfer Money to the Philippines
Although TransferWise can also let you transfer money to the Philippines, Sharemoney might be a better option. It’s fees are only a few dollars, and it sends the money within minutes.
How to Transfer Money to India
To transfer money to India, you may want to use the instantaneous transfer service Remit2India. This service has relatively low fees and reasonable exchange rates.
When transferring money internationally, keep in mind that many transfer services have high currency conversion rates so they can take a cut of every dollar you send.
Some transfer services are also scams in disguise. Always research a money transfer service before you use it, and take special care to read customer reviews and complaints.