Overseas Money Transfer
The ability to transfer money overseas is an important part of any growing international business or a family member being an expatriate or attempting to send money to loved ones. Money transfer overseas involves purchasing local currency or making a transaction in the currency of the destination.
Online Money Services:
Online Payments PayPal
Payment service allows users to send money and bills to anyone with e-mail.
Western Union Transfer
Large money transfer network for sending and receiving money with agent locations worldwide.
MG Money Transfers
MoneyGram a large worldwide money transfer network with over many locations worldwide.
Ikobo Money Services
A convenient way to send money online. iKobo offers ways to send money to family and friends.
International Money Transfer
It may be an emergency, in a foreign country or a special occasion, like a birthday.Whatever the reason Western Union* can send your money, quickly and safely, to any one of our 100,000 locations across the World.
All you need to do is visit your local agent, fill out a simple form, hand over the money plus the fee and it will be ready for the receiver in minutes.
Western Union* is available at many different locations across the UK including:
Maxcroft Securities Ltd
632 Eastern Avenue
Ilford
You can also find out more about Western Union by visiting http://www.westernunion.com/
Banking Transfers
If you have a bank account, there are several ways to transfer money overseas through the banking system. Not all banks operate in the same way. Check with your local bank for details.
Sending a Check Abroad
* Check clearing can take from 4 - 6 weeks.
* Even though it’s easy to issue a check, it may not be easy for the recipient to cash the check.
* The recipient will be charged a fee of about $50 for check processing.
* Some countries have less streamlined banking systems than others and may not honor foreign-drawn checks.
Foreign Drafts
* Depending on which city or town you live in, this can take from a few days to a week for the bank to prepare the draft.
* You mail the draft to the recipient.
* The money comes out of your account when the draft is prepared, not when the recipient gets it.
* There is a fee for this service of about $25.
* Since the draft is drawn on your bank to another (corresponding) bank, the recipient must have access to the corresponding bank.
Wire Transfers
* You don’t have to be a customer of the bank to wire funds, but you have to pay cash.
* This is quicker than a Foreign Draft, since it is done almost immediately.
* The fee is about $65 for non-customers and about $40 for bank customers.
* The recipient must have access to the corresponding bank.
