While you can find a number of ways to simply send money online these days, sometimes wiring money from one location to another is the only option, based on internet access or the amount of money you need to send. This requirement can often become a difficult and expensive option. However, a number of companies out there will conveniently wire money for you for a low cost.
- One of the oldest wire transfer services, Western Union is one of the global leaders in money transfer services around the world with 320,000 locations in 200 countries. Depending on how much money you are wiring and where you are sending it, the Western Union fee will fluctuate but is rarely more then 2 to 3 percent of the overall wire transfer amount. What's best about Western Union is that they are reliable and safe, as opposed to other wire transfer agencies which can't necessarily be relied upon and whose fees regularly fluctuate. Western Union is best when sending the money from the United States or Canada.
- When wiring money from a country that is outside the United States or Canada, MoneyGram International is a company with nearly 200,000 locations in nearly 200 countries--almost on par with Western Union. Again, it depends on the countries you are wiring money between and the amount you are sending, but the MoneyGram fees are on par with those from Western Union, as is the reliability. While this may be more money then you want to spend on a wire transfer, knowing the money will get there safely is sometimes worth the cost.
- Cheaper, though often less reliable, wire transfer services can be found in different countries around the world. In the Philippines, for example, there a number of national wire transfer services that are cheaper then Western Union or MoneyGram and can be the perfect service for travelers in a pinch. Check out Xoom.com if in need of a fast, cheap and reliable wire transfer service when in the Philippines. There are numerous other companies that are local to particular countries that do this all over the world, though use your best judgment on if your money will get to you or be sent safely through these non-internationally renowned services. If you have any question about the legitimacy of where you are doing your wire transfer in a foreign country, go to a main, major bank in that country to do it, as this is probably the safest location for doing this type of transfer properly.
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