Four Reliable Ways of Transferring Money Overseas

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Four Reliable Ways of Transferring Money
Overseas
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• Money transfer services are broadly used by many
  people around the world.
• However, most of them have a common concern of
  exorbitant charges, security, and delivery
  timings. As a result, most of them look out for
  alternative means of moving money.

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There are various methods of moving money across
the globe. Here are four reliable means that are
cost-effective, secure and fast.

• Bank Remittance
• Wire Transfer
• Bank drafts, Cheques, Money Orders
• E-transfers

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Bank Remittance

• For decades, banks have been considered the
  safest means of relegating funds to different
  countries.
• With the advent of internet, several established
  banks like YES Bank are now offering quick online
  money transfer services to their account holders.
• Such services carry reasonable fees that are
  lower than the other relegating agents. Moreover,
  they also provide the best exchange rate.

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Wire Transfers

• This mode of transfer is linked with banks, but
  is not limited to the account holders.
• Wire transfers can be initiated by any
  individual, and you can transfer funds to any
  other account in the world using it.
• Wire Transfers use the fast and secure SWIFT
  system to move and deliver money.

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Bank drafts, cheques, money orders

• These native modes of funds transfer are
  available with every bank around the world.
• They are relatively safe and you will have to do
  some amount of paper-work before you actually
  initiate a transfer
• Moreover, this method is somewhat slower and
  your recipient will have to wait for 2 to 3 days
  to receive funds.

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E-transfers

• Different online companies (E.g. PayPal) are now
  providing payment and remittance portals to
  transfer money across countries.
• Such portals are fast, secure, and you recipient
  receives funds within minutes. However, you will
  have to be savvy to choose the exchange rate
  while transferring funds.

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