Top three ways to money to family abroad send

There are several methods to send money to family members abroad available. The first three methods used to send financial support are: rechargeable debit cards, wire transfers, and personal checks. Each of these options has its own characteristics and associated costs. Before a transfer, it is important to explore all options that are available.

1.Re billing debit cards

Re chargeable debit cards are a vehicle for the transfer of money across continents. This approach includes the login with an online payment service that will send an ATM card to an address that you specify. Once you get the card, will your family to go to any ATM machine to cash in the local currency. After the first resources are exhausted, have the ability to go online and recharge the card with the amount you want.

Advantages:

Receipt of ATM card money are transferred in a few SecondsHassle free (can a transfer from anywhere you have an Internet connection) low transfer fees ($5 fee for each 1000 $ sent) to secure (sites that use a URL starting with HTTPS SSL technology and the best option for security)

Disadvantages:

Sender must access to InternetYou are limited to the amount of the transfer (most services allow not more than $3000 per transfer)

2. Bank transfer

An international bank transfer includes to send the money electronically from one bank to another. This method requires the sender to approach a Bank and moved request money in a bank abroad. The banks use to communicate the society for Worldwide Interbank Financial Telecommunication or SWIFT system. This system ensures safety and all over the world trust. The recipient of the funds must wait anywhere from a few hours to several days until they can access the money. The participating banks also charge one relatively high for this service. Bank of America, the largest bank in the United States, charges a flat rate of $45 for the sending of funds.

Advantages:

Very fast transfer TimeGood for large amounts of money send SafeRelatively

Disadvantages:

High service FeesRecipient needs to have a bank nearby

3. Personal cheques:

A check is a document that ordered the delivery of money to a specified person or entity. An overseas money transfer with this type of document requires that the sender have a current account with a bank in their home country. The advantages of using this method are that the only costs incurred by the sender are the cost of a stamp and a review on. The time that it access to the recipient of funds is very long, then must they wait for the review by mail, come after which they must wait to receive overseas clearance to their bank, from the ordering party's Bank. The actual time that it takes is depending: the relationship between the two banks, the country where the money is received and the currency of the check. There is also an option to a review in the currency of the recipient country design. This ensures that not because of changes of exchange rate losses will be that occur between establishing the test to its realization.

Advantages:

Low-cost, SenderAvoid SWIFT charges the Bank TransfersGood for people who do not usually send money

Disadvantages:

May take up to a few weeks, until the receiver gets that has found check potential, lost/stolen get MailRecipient has access to a BankSome have overseas banks service charges for redeem international of drawn cheques (this fee can USD range from 25 to 50)

Sending money abroad can experience a very rewarding and fulfilling. To ensure that there is maximum satisfaction, you should the system that best suits your personal circumstances.

Oded Porat is a writer, committed people of the most secure, online to inform easiest and cheapest way for business. The atmosphere CASH Web site for more information as you visit a money transfer with a rechargeable debit card.

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