4 Ways to Send Money to Friends and Family

*This is a collaborative post

4 Ways to Send Money to Friends and Family

Even as population growth around the world continues at a rate never before seen, it seems that we are more interconnected today than at any time in history. It is now commonplace to have friends and family located in different places around the world. When this happens, there is also a need for money to move from one location to another. It might be a young adult sending money home to support the parents, or it could be parents needing to send money overseas to aid their child in some way. Whatever the case might be, it is helpful to know how to send money to friends and family when you need it the most.

Sending Money Via a Bank Transfer

You might be wondering what is a bank transfer? This is a way to send money from your bank to another individual virtually anywhere else in the world where banking operations exist. Millions of people use this method to send money to friends and families in distant places every day. It has the advantage of being pretty quick, but it can also be a bit on the expensive side. You will also want to pay attention to the exchange rate that is offered to you, as banks tend to go a bit on the low side when it comes to this part of the transaction.

Using Western Union

Western Union has been around for decades. It has a presence in more than 200 countries around the world, making it accessible to almost everyone on the planet. This method of sending money has the advantage of being able to send cash directly to an actual Western Union station instead of a bank. If the person you are sending money to does not have a bank, this is a great option to get them the cash that they need in a hurry.

Using PayPal

PayPal has been steadily growing in popularity to the point that it is now located in just about every country that you can imagine. You can send money via PayPal instantly to anyone who has an account. That individual is then able to use the money directly from their PayPal account or they can transfer it to their own bank in just a few days. There are fees involved and this varies by country.

Using Transferwise

This might be a new way of sending money to friends and family overseas, but it has already become one of the most popular. Once you have an established account, you can send money to virtually anyone in a matter of minutes. The system is easy to use and is highly secure. The fees that are charged vary depending on the method that you use to send the money.

These are just four of the many ways available to send money to family and friends around the world today. Each one works differently and is useful for various situations. Decide which one works best for you and then get set up with an account right away so that you will be ready to send money to those you care about the most.

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