Are you tired of being charged a lot to send out money to your friends, family or someone through International money transfer methods? Just Checked it out cheapest way to send money internationally.
I am sure you might have tried your Internet banking or the offline bank money transfer which is pretty expensive at times and if you are choosing a service out of luck as well then the charge on the money transfer can get expensive.
So, in this article, we will be discussing the What is the cheapest way to send money internationally and discuss how each of these services is important.
Cheapest Way to Send Money Internationally
Some of the cheapest way to send money internationally are discussed below:
Transfer Wise
Though Transfer Wise does not have a decade long history but it has a connection of 70 countries to which you can send money from your bank account, credit card, debit card or any other payment service that you have that can be lined via the Transfer Wise service.
One of the key reasons why their service is so seamless is because the charge or the rate on the transfer is as low as 1% only even for the highest limit of $10,000 exchange at a time.
Their time to send out the money seems quick but sometimes they might have problems if the money cannot be directly deducted from your bank or service which might cause time delay to send out money to the required persons.
But that is only the case when you have issues at your own banking service but other than that their service is growing rapidly with customer support on their toes to ensure that the money transfer is made as quickly as possible while ensuring the lowest charge out there in the market.
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MoneyGram
Unlike Western Union, MoneyGram might not be your household service to send out money Internationally but it has now become a great service and probably a cheaper way to send out money internationally which is why we have it on our list. Though this service is quite prominent in the United States but they also have a widespread coverage to 200 countries to which you can quickly send money out and with their offline presence being to a count of 350 locations it ensures to give the users a sense of credibility and protection that their money would be rightfully transferred.
Their rate of charge is like 3% on any of the transfers that the users can make which can be upto $10,000 as well that provides a feeling that no extra charge would be made. Like any other service they make sure that the payments made are sent out the same day and might take some time during the weekends or holidays but those are just the special days scenarios. Their transfer limit is $10,000 for individuals online over the month which seems reasonable to ensure that the money is sent out provisionally.
Western Union
When we say Westerion union people might assume that their service is only offered through offline which is just not the case in the modern day. They have developed their online ability to allow users to use their platform to send money internationally to over 200 countries. They have more than 550 locations spread out across these 200 countries which is another feast in itself while their online platform to make the money payouts has tremodulsy grown to the extent their online business has grown enormously.
They charge $5 for a transfer of $1,000 across any country which is a great price to send out money to anyone who stays in their circle of 200 countries. While the second good part about their service is that the money transfer is quick, immediate in a few hours to a maximum of days only.
On the other hand with their offline locations being widespread their customer service is guaranteed and people who often have problems with their transactions can get them resolved in quick time.
Xoom
So you might be puzzled why PayPal is not on this list and the reason is because Xoom is a service by PayPal which has been actively promoted in order to provide seamless money transfer internationally. It is well known to be spread all across 120 countries which is a feast in itself since you get a chance to send out money to a large group of people out there spread across the world without much hesitation.
One of the key reasons why xoom has been growing popular in the Money transfer industry is because they charge as low as $5 but sometimes they charge similar to 3% and even 1% for some international bank transactions that provides users with a great comfort of not being charged more even if they tend to send out a large money transfer out.