Sending money abroad can sometimes be a real adventure if you don't know what you are doing.
It's not terribly complex, but there are certainly things you do need to know in order to make a good job of it.
Just picking a money transfer service out of the phone directory or choosing the first one you see online is not a smart idea, simply because you have nothing to compare it to.
This is why it is so important for you to comparison shop several online and other methods of sending money abroad - particularly if you want to save money on transfer fees and get money to its ultimate destination quickly.
If you're looking to save some money on transfer fees for sending money abroad, you could try sending funds through secure online services.
While their fees are often quite low, you do need a bank account or a credit card, access to the Internet, a working e-mail address and an online account.
Most often the person receiving your money will also need a bank account and at the very least, an e-mail address.
This isn't always the case, so ask about this when you have decided which route to send money abroad.
If you happen to be sending money abroad in rather large amounts, say you are buying a dream home in Dubai, or starting a new business venture in Malta, it might make more financial sense (translation: it's cheaper) to use a reputable currency broker.
This is particularly the case when you regularly send money abroad.
You will need to set up an account with the broker and have a funded bank account or a credit card.
Hint: using brokers means you are able to arrange for fixed exchange rates for a set period of time.
This is a real bonus.
Speaking of a bonus, using prepaid cards is rapidly becoming the route to go if you want convenience in sending money abroad.
They're a quick and easy alternative to the old standby methods of sending money abroad.
These cards act like credit or debit cards.
All you need to do is load the card with funds and the recipient may only spend the amount on the card.
The advantages? Use them instead of travel money, for online purchases, use them at any ATM on planet Earth and use them to withdraw cash.
If you're a total tekkie and into the latest and most innovative way that helps you while sending money abroad, try out the debit card idea.
A card sent to your recipient that is loaded with funds whenever they are needed.
The nice thing here is that money can be withdrawn when it's needed at any ATM and the recipient does not need a bank account.
Or, go mobile and send money by SMS.
If there's a will, there's a way for sending money abroad.
It's not terribly complex, but there are certainly things you do need to know in order to make a good job of it.
Just picking a money transfer service out of the phone directory or choosing the first one you see online is not a smart idea, simply because you have nothing to compare it to.
This is why it is so important for you to comparison shop several online and other methods of sending money abroad - particularly if you want to save money on transfer fees and get money to its ultimate destination quickly.
If you're looking to save some money on transfer fees for sending money abroad, you could try sending funds through secure online services.
While their fees are often quite low, you do need a bank account or a credit card, access to the Internet, a working e-mail address and an online account.
Most often the person receiving your money will also need a bank account and at the very least, an e-mail address.
This isn't always the case, so ask about this when you have decided which route to send money abroad.
If you happen to be sending money abroad in rather large amounts, say you are buying a dream home in Dubai, or starting a new business venture in Malta, it might make more financial sense (translation: it's cheaper) to use a reputable currency broker.
This is particularly the case when you regularly send money abroad.
You will need to set up an account with the broker and have a funded bank account or a credit card.
Hint: using brokers means you are able to arrange for fixed exchange rates for a set period of time.
This is a real bonus.
Speaking of a bonus, using prepaid cards is rapidly becoming the route to go if you want convenience in sending money abroad.
They're a quick and easy alternative to the old standby methods of sending money abroad.
These cards act like credit or debit cards.
All you need to do is load the card with funds and the recipient may only spend the amount on the card.
The advantages? Use them instead of travel money, for online purchases, use them at any ATM on planet Earth and use them to withdraw cash.
If you're a total tekkie and into the latest and most innovative way that helps you while sending money abroad, try out the debit card idea.
A card sent to your recipient that is loaded with funds whenever they are needed.
The nice thing here is that money can be withdrawn when it's needed at any ATM and the recipient does not need a bank account.
Or, go mobile and send money by SMS.
If there's a will, there's a way for sending money abroad.