In this world of ubiquitous ATMs, tap-to-pay checkout, and automated bank deposits , there are still times when it is necessary to hand over or collect actual cash. That is why money-transfer services like MoneyGram and Western Union have tens of thousands of agents in cities and towns around the world. Money-sending services can be a lifesaver. You may feel it is unlikely you will ever be broke and stranded in a bus station in Bengaluru, needing your spouse to send cash, but stranger things have happened—and not just when you are traveling abroad.
How about when your child who is studying at a Canadian university needs you to send the rent deposit—pronto? More routinely, money-transfer companies provide banking services like money transfers, money orders , and bill payments to people who do not have bank accounts.
In the United States and Canada, many customers are new immigrants who send money regularly to family members in their home countries. Cash is still king in many countries, and, in developing nations, many people do not have bank accounts. Western Union is the larger of the two companies and has instant name recognition around the world, thanks to its one-time monopoly of the telegraph business. Sending telegrams was officially discontinued only in , but by then Western Union had moved on to new ventures.
It has about , locations in over countries around the world. Customers can send money by phone, through the Western Union website, or in person. Fees can be steep or cheap, depending on a long list of factors, including the form of payment used, how fast the money is delivered, whether it is paid in cash or wired to a bank, where it is sent from, and where it is delivered.
For international transfers, the exchange rate adds another element of uncertainty to the cost. Using a credit card or debit card to send cash costs more and depends upon the amount being sent. Western Union's international transfer fees can vary widely. Credit card fees are higher. Contributor, Editor. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.
Here are eight ways you can send money to family and friends fast. PayPal Fees: None for U. Here are a few other options to consider: Wire transfer. Most banks, credit unions and other financial institutions offer wire transfers. You may have to pay a fee to send or receive a wire transfer, depending on your bank. Gift cards. Prepaid gift cards act as a debit card in many ways.
Some gift cards have restrictions on where and how you can use them. You also can write a check and send it to family and friends by mail. Keep Records Keep track of any money you send to loved ones.
Bottom Line Sending money to loved ones is more convenient than ever before. Was this article helpful? Share your feedback. Send feedback to the editorial team. Rate this Article. Thank You for your feedback! Something went wrong. Please try again later. Best Ofs. Banking Reviews. Banking Recommended Reading. More from. Napoletano Contributor.
By Ben Gran Contributor. Information provided on Forbes Advisor is for educational purposes only. Send again quickly to friends and family.
Download our money transfer app. Pay by phone Transfer money with no fee to bank accounts in certain countries by sending from your own account. Explore your options. Transfer money in person Make money transfers from more than , Western Union agent locations around the world. Flexibility to change how your recipient gets their money Situations change. Call and speak to a money transfer specialist.
Start sending money today Register now. Pay the way you like Send money from a bank account or use your credit or debit card 2. Register now. Send money online, available for pickup in minutes. Get Started. Relied on by customers around the world As a company working in cross-border, cross-currency money movement, Western Union aims to grow economies and create a better world.
Encryption to help protect your transfers. India Nigeria Pakistan. Mexico Canada China. Philippines Colombia Jamaica. Choose another country. Frequently asked questions. How can I send money internationally? Just follow these steps: Start by logging in or registering for a free profile. Choose a country from the list of destinations and how much you want to send. Send your money by paying with a credit or debit card 2.
This helps track your payment. How do I send money to a bank account? You can add or delete a recipient from your profile anytime. You also have the option to resend the same money transfer to that recipient. Learn more about the documents you may be asked for. If you prefer to send money in person, visit a Western Union agent location to send money using cash or, at some agent locations, a debit card.
To save time, you can start your money transfer online and then pay in cash with our Pay in-store service.
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