123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Types Of International Money Transfer Services

Profile Picture
By Author: stocktonmack
Total Articles: 5
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The growing international trades and advancement of technology have made the international trading and transactions easy and speedy. There can be numerous reasons for performing a money transfer to a foreign country. Whether you do import - export of the commodities, sending money to your family settled abroad, buying a property in a foreign country or any occasional international trip; you have to perform a money transfer or foreign currency exchange transaction. Due to this ever growing need of international money transfer services, there have been many mediums introduced which offer quick and cost effective services. Let me put light of types of international Money Transfer Services :

1) Wire transfer : Wire transfer services are basically an electronic money transfer services. You can transfer money from your bank account to another bank account. All required is the details of receipt bank account and wire transfer code to transfer money. It can take up to 2 days time to perform complete transfer. The foreign currency exchange rate may be charge high but Bank-to-bank wire transfer is considered the safest international ...
... money transfer method.

2) Online Money Transfer : Online money transfer has been very popular for performing small amount of money transfer. It is very quick, takes few minutes in transferring amount to a recipient bank account at any global location. All you need to have is an email account. There are many providers for online money transfer services. The charges for transfer depend completely on the amount of transfer. When there is international transaction the online service is quite criticized in terms of providing poor foreign currency exchange rates. If we talk about the safety measures proper identity verification is done by the online money transfer agencies to avoid any fraud.

3) Bank Draft : Bank Draft is a medium to transfer money to a foreign company. Mostly large transactions by companies and banks are done through bank draft. It very secure and requires senders permission and verification to perform the transfer. It's a secure and effective way to perform international money transfer, yet it costs more in comparison to other services.

4) Money transfer Agencies : Nowadays there are various companies providing money transfer services as a primary service. There are some companies like Western Union Money Transfer, Money Gram, etc. have gain fame in providing money transfer services. Whenever one need to transfer certain amount to an individual in a foreign country, they have to visit agency local office, deposit money and take a transfer code. The recipient can use the same transfer code to withdraw the money. It is very quick and charges depend upon amount of transaction. The foreign exchange rates are charged liberally. It is advisable to use this service when the money transfer is required occasionally.

5) Foreign Exchange Services : Money transfer facility is also provided by companies into Foreign exchange services. The most primary benefit of using foreign exchange services is that the currency exchange rate charged is lowest than the other service provider. Moreover the expert guidance is available at no extra fees. If you require performing frequent transfers they also allow various plans where you can book a foreign currency rate which will be applicable on every transfer you do, even if you don't send money your currency rate is fixed for 18 months. As Foreign exchange services providers are specialist in international foreign currency exchange they are well equipped with knowledge and various specialized plans to give you utmost benefits while performing international money transfer.

Stockton Mack specializes in money transfer services segment, currently working with well known foreign exchange services company.

Total Views: 68Word Count: 600See All articles From Author

Add Comment

Business Articles

1. Lucintel Forecasts The Global Wall-mounted Ac Ev Charger Market To Grow With A Cagr Of 22.4% From 2025 To 2031
Author: Lucintel LLC

2. Technology Landscape, Trends And Opportunities In Global 3d Printing Photopolymer Market
Author: Lucintel LLC

3. Lucintel Forecasts The Global Smart Home Market To Reach $372 Billion By 2030
Author: Lucintel LLC

4. Second Marriage Matrimonial – Verified Matches & Free Registration
Author: Truelymarry

5. Core: Leading The Way In Managed It Services For Businesses Across London
Author: IT Management

6. The Role And Function Of A Collection Agency
Author: Bennett Carter

7. Understanding Debt Collection Agencies: What They Do And How They Affect Consumers
Author: Bennett Carter

8. How To Use An Smm Panel Effectively For Fast Social Media Growth
Author: Smm Panel

9. Essential Tips For Beginners And The Power Of Professional Editing
Author: Sam

10. How To Improve Field Staff Efficiency With Geolocation Tools
Author: TrackHr App

11. Building An Effective Energy Management System
Author: Jane

12. Internal Auditor Training: The Key To Effective Risk Management And Compliance
Author: Sqccertification

13. Why Accurate Accounting In Property Management Is The Key To Higher Roi
Author: Harsh Vardhan

14. Kaal Sarp Puja In Trimbakeshwar – Benefits, Process & Trusted Pandit Contact
Author: Pandit Milind Guruji

15. Data Entry Vs. Data Processing: What’s The Difference And Why It Matters
Author: Allianze BPO

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: