If you have a family member or loved one who is overseas and they need money, there are several options you can use to get them the cash they need quickly. Thanks to modern technology, the number of methods you can use today have certainly increased and improved in terms of faster speed and lower fees. Here are a few different options you have if you need to get some money sent to someone in a foreign country that will ensure it arrives quickly and safely.
There are plenty of companies today that offer the transference of money from one user to another with just a click of a button. If your loved one has an account with an online payment service, you can easily send them some extra cash using this option. Even some of the major social media outlets now have ways you can transfer money through their message option using your debit card. A few money transfer services can even let you send money via text messages using a secure, unique code. Consider looking into online options, such as sharemoney.com, to decide which one will work best and get the money sent the fastest.
The tried and true wire transfer is still a popular way to send money to someone else who is overseas. Keep in mind that this type of money transfer service charges a fee, and sometimes it's a hefty one if you plan to send money to someone who is located out of the country. In most cases, both the sender and receiver will have to pay a separate fee, so be sure to take that into account when you choose the dollar amount to send. Wire transfers can be quick and effective, albeit costly.
Direct Bank-To-Bank Transfers
A process known as ACH, or Automated Clearing House, is an easy way to move money from one bank account to another. Since banks now offer online account access, you can easily log on, choose the amount you want to send, and enter in the recipient's information to do a quick transfer. Many banks can do this for you free of charge, but the time it takes to hit the other person's account can take several business days. Transferring funds from to and from the same bank can take less time than if you're moving money from your bank to a completely different one. If you need to get money to someone overseas as fast as possible, this may not be your best option, but it can definitely be the cheapest.