Best way to send money internationally

[Doe Be Doe]

Hi. Does anyone have advice on how to send money to someone in another country? Is Remitly the best way or I’d there another method?

thanks!

[maninsoma]

I sent money to someone in Mexico a few times last year.  I used Xoom, mostly because it's part of PayPal so it was easier for me to transfer funds since I already had an account set up.  I also looked into using Ria and xe.com; not even sure if I was aware of Remitly.  I wasn't sending a huge amount of money so I wasn't too concerned about fees or exchange rates (plus I was just sending a gift of a certain U.S. dollar amount, so the fees just impacted how many pesos the recipient got), though I did look at that information and my memory is that there wasn't a huge difference.  Looking right now, though, Remitly is offering a higher exchange rate for Mexico as a promotion for new customers, so if I were making another transfer today I'd probably choose them.

[Luv2play]

I don't know about all these newer means of transferring money to recipients in third countries but I have used Western Union and it is great because it doesn't require the recipient to have banking contacts, which can be an issue in third world countries. Even in the US it works well as their offices are conveniently located in large cities like San Francisco.

[Luv2play]

I should have mentioned that I can access Western Union directly on my banking website, just like e-transfers. The latter require the recipient to have an email and a link to a Canadian bank so does not apply to all cases where I am sending money to someone.

[+ Tygerscent]

Pennies… rolls and rolls of them~ 

[lonely_john]

20 hours ago, Doe Be Doe said:

Hi. Does anyone have advice on how to send money to someone in another country? Is Remitly the best way or I’d there another method?

thanks!

I have used Western Union (independently and through my bank), Moneygram, Ria, Remitly, and Xoom. Without a doubt Xoom.com offers the best fees and service, also in terms of speed - literally in minutes. I believe it's easier to set up if you already have a Paypal account but fortunately, since Paypal is the parent company, Xoom will work with most banks in the world. If the receiver can't provide any banking details you can also set up the money for pick up at a local financial institution, as explained in the video below. Good luck!

Edited December 9, 2021 by lonely_john

[maninsoma]

Not sure about all of the other services, but I think a lot of them allow the recipient to just pick up cash at a place near them (assuming the service is available in their area).  My recipient just had to show his ID and the confirmation number at a Walmart near him and was able to pick up cash there.

[Doe Be Doe]

Thanks. Let's see what happens!

[+ Pensant]

Years ago I used Western Union a few times but found their rates usurious.

[Luv2play]

Maybe Western Union has had to become more competitive with these other newer services. Bit I haven't been a comparison between the different companies.

[Guest]

I don't know if it's the cheapest way, but I've sent money via Western Union to some men I've hooked up with from Colombia and Mexico, and it's certainly easy, not really expensive, and it's convenient for them. I sent a handsome young man from a Colombian city to Puerto Vallarta. First I sent money so he could get a passport, once he texted me proof that he had gathered all of the documentation. After he showed me his passport, I sent him what he needed to get a taxi to the airport from his town so he could go on to Bogota, then to Mexico City and PV. He'd never been on a plane before (or even been to Bogota). Our first brunch after we got there was a mariachi brunch, and he was so happy he was crying like a baby. 

[jtwalker]

Crypto.  Send XLM or ETH.  XLM is faster/cheaper these days.

[Guest]

1 hour ago, jtwalker said:

Crypto.  Send XLM or ETH.  XLM is faster/cheaper these days.

I'm guessing someone is asking in order to send money to someone he found on an escort site or Seeking Arrangements. Do you think a poor man in a 3rd world country would know what to do with Bitcoin? (Then again, maybe I'm wrong about the intentions of the OP)

[jtwalker]

6 hours ago, Unicorn said:

I'm guessing someone is asking in order to send money to someone he found on an escort site or Seeking Arrangements. Do you think a poor man in a 3rd world country would know what to do with Bitcoin? (Then again, maybe I'm wrong about the intentions of the OP)

You are making a lot of assumptions.

The question was asking for the best way.  Crypto is fast and hard to trace.  Bitcoin is also an official currency in El Salvador with other South American countries considering the same, so I think it is more well-known than you may be aware.  It's been around for over a decade at this point.

Edited December 10, 2021 by jtwalker

[BaronArtz]

23 hours ago, Pensant said:

Years ago I used Western Union a few times but found their rates usurious.

I agree.  The WU fees are high and the exchange rates offered are not the best either.  I use 'wise' formerly known as 'transfer wise' for money transfers to South America.  You will need the receipient's bank information though.  But totally worth it.

Wise, Formerly TransferWise: Online Money Transfers | International Banking Features

[Guest]

7 hours ago, jtwalker said:

You are making a lot of assumptions.

...

Of course--because I always use the word "guessing" when I'm making assumptions. Two of the three men I sent money to did not have bank accounts. They just picked up the cash at one of the many locations available in their towns. 

[Luv2play]

The OP should have stipulated who the someone was that he was going to send money to in another country. Most of us here in the forum have good relations with a banking institution and indeed most of our monetary transactions revolve around having a sound credit history which underpins everything we take for granted in navigation our way around people and places. 
I’m not in the habit of asking but I always assume that providers may not have a credit rating like mine that grants me access to the priciest hotels with just a credit card. Especially providers in third world countries may have no access to banking services. That’s where WU comes in. Unlike PayPal and many other non banking facilitators, which require a credit card to utilize their services, WU only requires someone to have an ID to pick up money sent from abroad.

[+ Tygerscent]

Best way to send money overseas is: 

 

Edited December 11, 2021 by Tygerscent

[anghecasny]

I am not a fan of credit/debit cards or money apps. I simply don't believe in this new technology because it can always be hacked. But unfortunately for my beliefs, the current world requires it. I've found out from thecentsofmoney.com that TransferWise is actually a very good choice. More and more people use it because the fees are very low compared to other apps. There's one downside to it too. They may close your account without any notice. It didn't happen to me, though, but I've heard several cases.

Edited February 21, 2022 by anghecasny