In times past, sending money internationally, whether to loved ones in the diaspora or for any other reason used to be a difficult and tiring task, with challenges like which channel to use, the possibilities of poor services and delays of sending money, and more saddening, the high charges by a lot of channels.
Presently, thanks to technological advancements, numerous apps, and online services, particularly those that specialize in sending money internationally, sending money to any location around the world could not be easier. However, the associated costs and time it takes to get your money to its intended recipient can vary according to the channel.
That’s why we’ve put together a list of some of the top services that can help you get your money where it needs to go. A review of useful apps can also point you in the right direction if you need more information.
In this article, we have outlined and explained some of the best ways to send money internationally.
Ways to send money internationally
The below are some of the ways you can send money internationally at a very little or no cost at all.
PayPal is one of the most used platforms in sending money internationally. You’ll notice that many sites list PayPal on their list of transaction choices. You can decide to send money through PayPal with your credit card or your bank. There are comments and reviews about PayPal on platforms like ReviewsBird.com that can help you decide if you want to use the payment platform or not.
Truth be told, Western Union has been around for a long time. They are seen as one of the oldest channels outside the banking system for sending and receiving money quickly and the service has succeeded in keeping with the times. The Western Union provides three avenues to send money: through their website, their Western Union app, or their brick and mortar locations.
If you’re someone who often finds themselves waking up in one country and going to sleep in another, managing money across borders can be difficult. However, TransferWise is a company specializing in “borderless banking,” makes managing money in multiple currencies a breeze. It’s also possible to do regular money transfers through the platform without setting up its borderless bank account.
Zelle is a great peer-to-peer tool for bank account transfers. While wire transfers from bank to bank can take days to process, Zelle, however, boasts of completing the transfers in a matter of minutes. It is estimated that over 5,400 financial institutions are now on the Zelle Network.
Many other platforms can be used in sending money internationally; the above-listed are just a few. Before you use any of the above platforms, however, we strongly recommend that you read reviews about them to know how much they charge, if they have a good track record, and other necessary details you would need to know.