Different Money Transfer Options for Working Moms Overseas

For mothers who live and work overseas, having a way to send money home is very important. While writing cheques would be an option, the truth is that they take a bit of time to clear. In situations where the money is needed urgently, money transfers make the most sense because they can be initiated almost instantly.

Of course, there are other factors to consider when choosing a money transfer option. The security of the transaction is absolutely important. At the end of the day, you want a method that guarantees you that the funds will reach the intended recipient with no hiccups along the way.

Technology has played an important role in making it easier for people who live and work abroad to transfer money to their loved ones back home. With most money transfer methods, you will receive an instant confirmation that the transaction has been completed. You don’t have to wait for days to know if the transfer was successful.

Here are money transfer options for working moms abroad:

1. Online Transfers

If you opt to use an online money transfer company, you will be required to set up an online account which you will then use to transmit your money via the internet. For Ria Money Transfer, you will be required to provide the recipient’s name, phone number and address. You will also indicate how you want them to receive the money, either through their bank accounts, debit card or credit card. They have various online tools that you can use to track the transfer.

2. Bank Account Transfer

Most banks allow their customers to transfer money into overseas bank accounts. This is what is commonly referred to as a wire transfer or telegraphic transfer. Some even have online transfer services that you can use to send money into overseas bank accounts on your own. You just need to check the options available and choose the best one for you.

3. Cash Transfer

Through a money transfer company, you can transfer funds to your home country using cash or electronic funds transfer (EFT). Your intended recipient will receive that money at the local office of the money transfer company back home. The best thing about this method is that it takes only a matter of minutes for the transfer to be complete. However, that could mean you paying more for the transfer.

4. International Money Order

Rather than send a personal cheque, you can go for an international bank draft. You just need to give the money you want to transfer to a bank in exchange for a guaranteed cheque. You will then post that cheque to the person you want to receive the money, either at a local bank or directly into their account.

In order to figure out the best choice, you need to take some time to shop around and investigate the different options. This will reduce the chances of falling victim to a scam and also save you some money in transfer fees. It’s all about finding the safest and most cost effective methods.