Thanks to new advancements in digital technology, sending money overseas is now a breeze. The use of internet and new developments in computer operations have made money orders and bank transfers almost a thing of the past.These days, many quick, convenient, secure and less expensive options for sending money are available online.

Money accessed from one credit account and sent online are commonly called cash transfers.This can be done via Western Union, Moneygram, Paypal and Xoom among others. Western Union has led the way in this market, and now now has about 200,000 branches worldwide. It boasts of millions of users in the 190 countries where it is currently offered. It also maintains a website that helps users easily calculate the cost of sending a certain amount to a recipient in any destination country.

Both Western Union and Moneygram have the capability to send money online and by phone, and these services are payable using a credit or debit card. To make the money transfer secure, a unique control number is provided. It takes less than an hour to send money this way but the the speed of transmission still depends a great deal on the recipients location and internet capabilities. To quickly access the sent money, it helps a lot if the recipient provides proper identification and has knowledge of the transaction control number.

Western Union and Moneygram still offers the older type of money transfer service, which requires a sending money agent and a receiving money agent. Transactions done this way has to be paid in cash though. To access a list of money transfer agents of both companies, just go and check out their websites.

Paypal, on the other hand, transfer money overseas easily through an email address and a credit card. Paypal, an eBay company, has more than 95 million membership worldwide, and is offered in more than 50 countries. To ensure a convenient, safe and speedy money transfer operation, Paypal taps into the latest fraud prevention mechanisms available today. It features Verified, an advanced internet tool that can verify the existence of credit accounts online.

Register first with its website before you send money via Paypal. Have your credit account verified online then enter the recipient’s email address and the amount to be sent. Double check the entries before clicking on the send button, and that’s it. Money is sent quickly, conveniently and inexpensively across countries.

As it name implies, Xoom is another service that is fast becoming popular online, and now has users in close to 40 countries. It also features a user-friendly website with a cost-of-sending calculator. Aside from its round-the-clock availabilty, Xoom is also well-received in the market because of its relatively low rates. Still, actual cost of transfer varies. The location of the recipient and the amount to be sent still dictate the actual cost of sending.

While the number of ways of sending money on-line is growing, transmission through banks and money orders are still being offered. One easy way of doing this is through checks. However, checks can be easy and inexpensive to send but the same is not true for the recipient who could suffer hefty deductions from the actual amount sent. Depending on the location, encashing a check could take four weeks to as much as six week. Plus, foreign-drawn checks are not honored in certain banks.

Wire transfer, on the other hand, is available for those without a bank account. This can be a bit more expensive but it takes less time and is normally completed within one business day.

For more information see Link Financial.

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