How to Easily Send Money to a Family Member Living Abroad

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There are many ways you can send money to your family members abroad, but some methods are better, others are cheaper and some are more secure. You will have to pick carefully which method will be best for you and your transaction so that you do not come back disappointed with what you have done. Here, we will provide you with some tips on what you can do in these situations.

Bank transfers

Bank transfers are reliable and tried options for sending money abroad. The first step is to initiate a wire transfer from your bank to the foreign bank account.

These transfers are usually safe, but they can cost a bit, and their high fees and unfavorable exchange rates may not be the best for you if you send money often or in smaller amounts. Also, they will usually take a few days to complete the transfer. So, if you want to go with bank transfers, you should think about the total cost and the time it will take. 

Money transfer services

Money transfer services are much more efficient than bank transfers, especially when we speak about international ones. Western Union or MoneyGram are some of the options you can use for this task, and what is great is that they have cheaper transaction fees and exchange rates.

Also, the transactions will be completed much faster, but it all depends on your country and the country you are sending money to. Many people are turning to this option because of how easy and convenient it is, and you should try it out as well. 

Online payment apps

Using online payment apps, you can send money abroad easily and swiftly. All that it takes is to enter the recipient’s email address or phone number, and with some apps, there is no need for any bank information. So, if you think about how to send money to Jamaica, online payment apps will help you with quick transactions thanks to their convenient and user-friendly design. Of course, check out the fees and exchange rates before going for a specific app, as these can vary greatly. These services are popular for anyone who wants to use digital alternatives, and they are great because of their accessibility and clear interface.

Mobile wallets

A mobile wallet is a digital tool that you can use on your smartphone to keep and manage your money. You can also use it to pay bills, send money, and buy things quickly and safely. Apple Pay and Google Wallet are some of the most popular options worldwide, and they offer you a range of services, including sending money to your family members abroad. Luckily, these tools have a high level of security, like encryption and biometric authentication, so you can be sure your money will end up in the right place. 

Set up your account

Once you have determined which method you will use for your transaction you will have to set up your account on that service, whether it is by going to a bank or making an online account. On that platform, you will have to put a lot of your information so we would suggest that you are really careful when you are making your online account.

You should never use public wifi or someone else’s wifi for this because it could seriously jeopardize you. If you use public wifi, for example, there could be someone who is monitoring the network, and they are just waiting for people to give them their bank details. When they have all your private information, it will be really easy for them to steal from your bank accounts and something even worse may happen. So be sure that the network you use is only used by yourself.

Enter their information 

Once you have set up the necessary account, you will have to get the recipient’s information so that you can send them the money. It is again important that you use safe channels when you talk about these things, just so that you can be sure. Once you have received the information, you will have to fill out a form so that you can commence the transaction. The only thing left is that you send the money and that the recipient picks it up.

Additional tips

Here, we will provide you with some additional information so that you can know what you need to do and make everything happen in the fastest way possible. Some of the information will help you keep more money for yourself, while others are there just to point you in the right direction.

Check the rates and fees

It is incredibly important that you see what rates some of these services offer. The place where you want to send your money most likely uses a different currency than the one you use so you will have to check what the exchange rate is.

You want to lose as little money as possible in the process, and by checking the rates with the services that you consider, you will get the most out of the transaction. Also, you should check the fees that the services offer so that you can get the best deal possible.

Check the speed

Speed is among the most important factors in choosing the best transfer option, as there is a big difference between a transaction that can be completed in a few minutes and one that takes a few days. Look for the option that best meets your needs when thinking about speed, as you want your transactions to be as swift and efficient as possible. 

Make sure you use trusted services

A shady service may offer the best transaction fees and conditions but they are doing that because they cannot be trusted, which means that your money gets lost and you cannot get it back. Many times it is much better that you work with someone that you know will get the job done than with someone who costs you less but you will get stressed out working with him. 

Sending money to your family members abroad has never been easier, with so many options at your disposal. Before you stick to one transfer method, consider its security, speed, cost, and reliability, so that you can make the best decision possible.

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