4 Safe Ways to Send Money Abroad While Enjoying a Family Vacation

September 12, 2022

If you need to send money while on a family vacation abroad, here are four of the safest options for you.

When it comes to traveling, there are many things to worry about. But one of the last things you want to worry about is your money. You want the trip to be as stress-free as possible, which means finding the best way to send money abroad. You might be thinking, how can this be possible? Here are four safe ways to send money abroad to enjoy your family vacation without financial stress.

Safest ways to send money abroad
Photo by micheile dot com on Unsplash

4 Safe Ways to Send Money Abroad While Enjoying a Family Vacation


    Payoneer


    With Payoneer, you can transfer money from your bank account or use your credit card to load money onto the card. Once the funds are available, you can use the card just like a debit card to withdraw cash or make purchases. You can also use it to send money to other Payoneer users for free. If you're looking for a way to avoid transfer fees, Payoneer is a great option.

    However, you will have to pay ATM withdrawal fees when using the card abroad. But overall, it's still a cost-effective way to send money. To use Payoneer, you must have a bank account or a credit card. There are no transfer fees when sending money to other Payoneer users.

    With worldwide coverage, Payoneer is a great way to send money while on vacation. To understand more about digital banks, read widely about how they operate. Nowadays, you'll find reliable resources willing to offer peer-reviewed content on the top online banks. 

    An excellent online bank comparison makes it easier to identify the one that best suits your personal banking needs. As you do the analysis, concentrate on affordability and ease of use. Most importantly, look at the account features.

    Western Union


    With over 500,000 locations in more than 200 countries, it's easy to see why. All you need is the recipient's name, country, and bank account information, and you can send money online or through one of their many locations.

    The only downside to Western Union is that they have transfer fees, which can vary depending on how much money you're sending and where you're sending it. But overall, it's a reliable way to get money from your loved ones abroad.

    It would be best to have the recipient's name, country, and bank account information. Generally, the transfer fee is based on how much money you're sending and where you're sending it. Therefore, factor in the fee when sending money via Western Union.

    Wise


    This money remittance method is still new in the market. Wise, formerly known as TransferWise, is a peer-to-peer money transfer service. That means that you're essentially sending money from one person to another. This benefit cuts out the middleman, saving you a lot of money on fees.

    The good thing with Wise is that you can send money to over 50 countries. If you're sending a large amount of money, you can get up to 8x the amount of currency compared to using a bank. To use Wise, you'll need to create an account and link your bank account. From there, you can start transferring money.

    Generally, it allows multi-currency account services for both private individuals and businesses. So, if you frequently make overseas payments, you'll find this digital bank very useful. The multi-currency account comes with a MasterCard that you can use when traveling. 

    When looking for an online bank, you should choose the one with transparent pricing. Fortunately, Wise has no hidden charges, and the exchange rates are displayed upfront.

    CurrencyFair


    All you need in this method is the recipient's bank account information, and you can transfer money online. CurrencyFair does have transfer fees, but they are often lower than what you would pay with a bank.

    The use of the official exchange rate is one of the things that make CurrencyFair stand out. Using this money remittance method, you'll get the real exchange rate - not the inflated rates banks often charge. In addition to that, there are no hidden fees with CurrencyFair. You'll know exactly how much you're paying in fees before you make a transfer.

    Besides, many transfer methods have a minimum transaction amount. However, this is not the case with CurrencyFair, which makes it an excellent option for small transfers. This is significant, especially if you send money to friends and family. Additionally, it offers 24/7 customer support. So, if you have any questions or concerns, you can always reach out to customer service for help.

    There are many ways to send money abroad. But if you're looking for a safe and affordable way to do it, these four options are a great place to start. Payoneer, Wise, and CurrencyFair are all excellent choices for sending money overseas. 

    They are all cost-effective and offer different features that can be beneficial depending on your needs. When choosing a money remittance method, it's important to consider fees, exchange rates, and transfer limits.

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