How To Send Money Abroad Online

There are several ways to transfer money abroad

, using online methods, including via banks and by availing the services of foreign exchange companies. A client should understand the various benefits the different methods offer and choose one depending on what his own particular requirements are in terms of frequency of payments, security, cost savings etc.

Using an ATM Cash Card

One of the fastest ways to send money abroad is by using a newer concept where some financial institutions offer the client an ATM card, which can be topped up with the required amount every time the client needs to send money abroad. As soon as the card is topped up the receiver can withdraw the money within 30 seconds from an ATM in his country.

Using a foreign exchange company

These companies ensure that regular money transfers abroad are automatically made on time, by directly debiting the amount from the clients bank account. There are no commission fees on exchange rates, the receiver usually does not need to pay his bank any receiving charges and an appointed account manager guides the client whenever he needs to send money abroad. Most of these companies offer a secure online system that can be monitored by the client at all times and they are also FSA regulated.

Choosing a method to suit your particular needs

The ATM Cash card is the quickest method and is convenient for those who do not have to make money transfers abroad on a regular basis. But for those who need to send money abroad regularly, such as for mortgage payments, payments to suppliers of goods, international pension or college tuition fees, it is better to opt for the services of a foreign exchange company as the client need not have the bother of constantly topping up the card.

by: Devid Anderson

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