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Top 3 service providers for international money transfer

Top 3 service providers for international money transfer

You want to send money abroad but don’t know which way is the easiest and most appropriate way. There are many services which help you to send money overseas. With the advancement in technology, now doing international money transfer has become easy.

Let’s know about the cheapest, fastest and best transfer options provider services answers to how to transfer money to an international bank account?

OFX is one of the cheapest international money transfer provider. OFX (USForex)is a platform for changing currency online. Exchange rates are favorable as exchange markup rates are less than 1%. Regardless of how much money you sent, OFX charges no transfer fees. One drawback of this service provider is that you can send money to only bank accounts. The minimum value is $150 per transfer. OFX facilitates you to transfer money to 91 countries either by mobile app, phone or online. Generally, the delivery takes many business days.

Other option to transfer money in a cost-effective and budget-friendly way is to send money by TransferWise, a UK-based money transfer provider.

MoneyGram is one of the fastest ways to transfer money internationally. MoneyGram is a Chinese money transfer provider. It is owned by Ant Financial, a Chinese company. In over 200 countries and territories with 350,000 money transfer locations, MoneyGram is the second largest money transfer company. Exchange markup rates vary from 1% to 6%. Average fees for transfers of $200 to $1000 range from $9 to $25. The maximum value sent per transfer is $2,999.

Another popular option for quick international money transfers online is using Xoom, owned by PayPal.

The Western Union
The WesternUnion being the largest money transfer provider worldwide gives several ways to transfer funds. Money is delivered to bank accounts and picked up as cash in more than 200 countries and territories with 500,000 location agents in urban and rural areas.

Transfer charges are high between agent locations transfers and it takes only a few minutes. A cheaper option through the Western Union is web transfer to bank accounts. But, web transfers take several business days for delivery. Transfer charges for up to $1000 transfer fees range from $0 to $81.

These are some best and easy ways to transfer money to an international bank account. You don’t transfer money internationally on a regular basis, but when you do it, you should conduct extensive research and choose the best suitable and convenient option for your international money transfer online.

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