It is now easier than ever before to do business internationally. Beyond that, more and more people today have connections in other countries that they work hard to maintain. This goes to show that borders are actually shrinking as individuals become more globally focused. Since sending money online is what makes the world go round, this also means that there is a need to send money overseas from time to time. It might be to pay for property in another country, to help support family or friends, pay tuition, or any of a number of other needs that creep up in daily life. Here are five resources that are available to you to send money online.
With PayPal, you get an internationally recognized company to transfer your money. It is currently available in more than 200 countries, so the chances are good that it will work with virtually any bank account that you might have. If you are sending money to another PayPal user anywhere in the world, it can be done almost instantly. If you want to transfer money to a bank, the process will take just a few days.
Venmo is actually a division of PayPal and works exclusively on your smartphone. You will end up sending money to another Venmo user, so keep that in mind. Once the money is received in another account, then it can be moved to a local bank account or used to pay other people on Venmo. Moving money on Venmo is instant as long as you use a debit card or already have money in your account. Otherwise, it will just take a few days to get the money where it needs to be.
Western Union has been around for years and is located in just about every country you can think of. Sending money online with relative ease. The great thing about Western Union is that you can either send the money directly to a bank in another country or to a physical location where the recipient can then go to and pick up the cash.
TransferWise works entirely online. There are no physical locations to worry about. You will need a bank account to send the money to, but the process is quite quick once you are a verified customer. Fees vary depending on how you end up sending money online and where it is going.
Banks are another option when you need to send money abroad. You will want to check with your local branch to see if they offer an sending money online option. Keep in mind that the fees charged by banks tend to be a bit higher than they are with other services.
When you are looking to send money overseas, there is no longer a need to go into a physical location to take care of it. There are many services, such as these five, that will allow you to complete the process entirely online. Some can be used with your smartphone while others can be accomplished using your computer. Check the terms and conditions for each and then determine which service is best suited for your purposes.