I want find out information how to send money overseas. Can I do this online or can some one help me as I am a blind person? Hope to get a reply soon thank you.
Grazie, my suggestion is that rather than trying to send money online, you call up the customer service line of MoneyGram, Western Union or a comparable service, and let them help you. The money transfer can all be done over the phone. You’ll need to know your credit number and expiration date, and the name, address and phone number of the recipient.
If you want to use MoneyGram, for example, the customer service number in the United States is 1-800-328-5678.
Best of luck. If you have any further questions, let me know.
“What is the exchange rate for Mexican money into dollars?”
This is not the focus of our website, which mainly deals with online money transfers, but the answer is simple enough. There are several websites where you can check the current exchange rate of many international currencies. I like to use Yahoo Finance’s currency page.
Click on the Currency Converter tab on the right. On the next page you’ll see the currency conversion boxes. United States dollars are entered in the left side by by default, and European Euros on the right. Over-write the European Euros, and type Mexican pesos, and you’ll get the exchange rate.
Today’s rate is $1 U.S. dollar = 13.3733 Mexican pesos.
Online money transfer is a modern way of wiring money, but it uses electronic funds transaction or EFT through a bank. You might use EFT to pay bills such as a credit card or utility payment when you authorize a payment through your bank or at the payment website.
Transferring money online works the same way, but it is for money to be sent to a business or individual instead of paying a bill.
Why the growth in money transfers and more importantly, why you should you care about them? It is becoming more likely that you will at some point either need to send money or receive money from someone. The easiest way to do that is by using an online money transfer service.
One of the primary reasons for growth in the online money transfer business is due to the fact that more employers are hiring employees outside of their city or state. They may even work with employees or contractors from another country. These employees need to get paid and sending a check in the mail has many negatives. The check takes too long to reach the destination and it takes too long to clear to make funds available for people that need the money for living expenses.
To solve this problem, introduce the money transfer. While it’s convenient for the sender to initiate payment after services are rendered, it’s even more convenient for the recipient to get within hours or days. Instead of waiting weeks, they can use their money right away.
Another reason that money transfer services are growing is due to increased online purchasing. People no longer are limited to shopping in their own city or state; they can buy from anyone anywhere. One of the safest ways to send and receive payment without providing sensitive information is through PayPal or other online payment services. The money is then transferred from the buyer’s account to the seller’s without giving out any bank account or credit card information.
The security provided by these services has helped the online shopping community to grow. People feel safer to buy over the internet when their information is kept secret by payment agencies. This is especially true when you are dealing with a business or individual that you have never heard of before. Sites such as Ebay use this payment method for many of the transactions between buyers and sellers.
It is expected that this method of payment for goods and services will continue to grow at a fast pace both because of international employment and online purchases. The newest trend is with mobile applications that allow money transfers. Many companies are adding this into their services to attract and retain customers that spend more time on their smart phones than on their computers.
As the growth continues, online money transfers will become more common. If you haven’t already used this service, it is likely that you will in the future.
People hate carrying cash nowadays, and one of eight people believes that cash will become obsolete in the future, according to Barclaycard and Barclays. No one likes having a ton of spare change, or having a wallet stuffed with one dollar bills. And people feel uncomfortable and insecure when carrying large denomination bills.
According to the study, £23 is the average amount of money that can be found in a purse or wallet. Also according tot he study, many people hate carrying loose change, and the majority (57 per cent) of respondents said they refuse to carry around one and two penny coins. One fifth said they avoid carrying cash entirely.
Dan Wass, head of current accounts and contactless at Barclays, commented: “Although we are far from becoming a ‘cashless society’, it’s clear from our research that cash is no longer king.”
Credit cards are less popular these days after the credit crunch of recent years. People are also sick of the various predatory fees charged by credit card companies.
Debit cards continue to be a popular wait to pay for retail products.
Instant money transfers or so-called “contactless payments” in which a person swipes a card or device, and money is transferred instantly, could be the wave of the future.
Contactless payment systems include credit cards and debit cards, key fobs, smartcards and any other devices which use RFID for making secure payments. The embedded chip and antenna enable buyers to wave their card or fob past a reader at the point of sale. Some suppliers claim that transactions can be twice as fast as conventional cash, credit, or debit card purchases. Because no signature or PIN entry is typically required for contactless purchases under US $25 in the US and under £15 in the UK, research indicates that consumers are likely to spend more money due to the ease of the transaction. MasterCard Canada says it has seen “about 25 percent” higher spending by users of its PayPass-brand RFID credit cards.
However, research indicates that some people still refrain from making contactless payments due to fears about security and a lack of understanding about how the technology works.
Methods are being developed to protect people’s security when using contactless payments. For example, although a number of payments can be made merely by touching a device to a shop’s outlet, only a certain number of transactions can be made before a user is required to enter their pin.
I’ve received some odd messages from visitors to this website. Here they are, along with my answers:
Hugh McIntyre wrote:
I received a message to activate my Paypal account. When I attempted to do so I
received a message that my account had been blocked. Can you explain and correct
Hugh, you should contact Paypal customer service. They can tell you why your account has been blocked. My experience has been that when Paypal deactivates an account, they almost never open it again. They are very stubborn about that. But you never know. It’s worth a shot.
Actually, I just had another thought. Maybe you logged in with the wrong username or password, and it was your login that was blocked. In that case, go to Paypal.com and click on the “Problem with login” link just below the login button. You’ll receive instructions on how to recover your password.
– Wael, SafeCashTransfer.com Editor
Robert G. Schulz wrote:
New expiration date on my Visa card
(date removed by Editor)
Robert, I don’t need to know the expiration on your Visa card. I think you have mistaken this website for some other website or service. – Wael, SafeCashTransfer.com Editor
anthony j popps wrote:
i contacted a bank nearby and will have an appoinment.this week .I sort of have
a good idea for the two bank accounts. my scotia bank was closed nbecause i was
told that there was a 2 hr waiting period after the 10 day wainting period.
Iemailded you dozens of times about it and NEVER got a reply but your mailbox
unless it was deleited. Go to my FIRST transaction and you will find that my
account was blocked because of a lie to begin with made me fight because of one
of your staff. SO GO AHEAD.I'd be satisived without causing A lot more Plus I
made apurchess at amazom and have notice that i have to set up a new bank
acct...............aj popps .....THANKS FOR ALL T%HE HELP. Soon I will be free
to se3ll on eBay..I'm almost there once my new account is opened. If you check
with amazon. all things is there . my martial arts supplies and my Nikon cameras
which all were stolen. You pressios people helped a dissabled person have a life
now that nI can do something with it. YOU CAN'T BUILD a home without a hammer
and saw. THANKS A WHOLE BUNCH.........AJ
Anthony, I don’t know who you emailed but it was not me. I don’t really understand your question. Sorry to hear that your martial arts supplies and cameras were stolen. Best of luck to you. – Wael, SafeCashTransfer.com Editor
berit norlen wrote:
Hi I like to have a Paypal account How do I get that I send for vidal sasson
shampoo and now I have to pay for it thru Paypal tell me what to do Berit
Berit, just go to Paypal.com and open an account there. You will have to fund the account with your bank account or credit card. If you cannot open a Paypal account for any reason, maybe you can contact the company that you ordered the shampoo from and see if you can pay by check, credit card, Google checkout, Western Union, or some other method. – Wael, SafeCashTransfer.com Editor
Plenty of businesses hate and fear Walmart, that giant corporation that outsells and out-prices everyone else. But did you know that banks are increasingly feeling nervous about Walmart as well?
The reason is Walmart’s MoneyCenter offices, which offer a range of financial products including check cashing, bill payment, wire transfers and other services. Manned by customer service agents, they are one of the most profitable areas in Wal-Mart stores, Thompson said. There are over 1,000 of these MoneyCenters in Walmarts everywhere, and they are one of the most profitable areas in the Walmart store, according to Jane Thompson, the outgoing president of Wal-Mart’s financial services unit.
In a new move, Walmart will begin this month rolling out automated versions of its MoneyCenter offices. The “MoneyCenter in a box” concept will feature ATM-like machines positioned in Wal-Mart stores that do not have full MoneyCenters, said Thompson.
Though the move might seem less ambitious than Wal-Mart’s other forays in banking, competitors should take it seriously.
“Retailers should shake in their boots, banks should shake in their boots,” said Brian Riley, a research director in the bank cards practice at TowerGroup. “Because if Wal-Mart starts linking their kiosks to doing reloadable gift cards, they have the power to move a lot of transaction money.”
Thompson would not say exactly how many express MoneyCenters will be part of the pilot program, and was reluctant to reveal locations to rivals.
“It’s going to be kind of like ‘Where’s Waldo’ — you’ll have to find them,” Thompson said during the 6th Annual Underbanked Financial Services Forum in New Orleans held by American Banker and the Center for Financial Services Innovation.
Keeping Costs Down
Many financial services companies have been trying to encourage self-service transactions at kiosks or ATMs in order to keep labor costs down and maximize store hours, so to speak.
“If you take a Wal-Mart shopper, if maybe they want to buy a washing machine and they want to transfer funds online without having to get to their home computer, or maybe they don’t have easy Internet access, they can do that now within a Wal-Mart,” said James Van Dyke, the president of Javelin Strategy and Research. “It makes a lot of sense for a limited segment of the population.”
Walmart has campaigned for years for cheaper banking services and even applied in 2007 to charter an actual bank, though it scrapped that application in the face of tremendous industry opposition. Today Wal-Mart is one of the top sellers of prepaid cards, through a partnership with General Electric Co.’s GE Money and Green Dot Corp.
I admit that I’ve never tried any of Walmart’s financial services, though I have noticed that the MoneyCenter at my local Walmart is always busy. Nor have I tried the new kiosks. Maybe I’ll take a trial run, so I can write a review here.
A basic but informative and well-written piece from the Christian Science Monitor on what causes most checking account overdrafts, what to do if it happens, and how to avoid overdrafting in the future:
What to do if you overdraw your checking account
By Jason Price Guest blogger / March 12, 2010
Have you overdrawn your checking account before? You log into your checking account online and see big red numbers with a negative sign. It’s your account balance and you’ve overdrawn! But you’re a good money manager, right? You have your finances in order. How could this have happened?
No one really wants to be in this particular situation, especially, since most banks charge fees for every transaction overdrawn. Ouch! You make such a mistake and the bank will make you pay for it.
And pay you will. Bank of America currently charges $35 per transaction overdrawn with a limit of four per day. That could mean you could pay the bank up to $140 per day.
So, how do most people overdraw? I think there are probably 4 common ways to overdraw your checking account.
4 Ways to overdraw your bank account
1. You don’t talk about money, or forget to talk about money with your spouse.
Married couples should talk about money and their spending decisions each week. This becomes even more important when you have a joint checking account. If you’re not talking, one person may spend money without the other knowing and before you know it, you’ve overdrawn.
2. You use both a credit card and debit card to make purchases.
If you’re switching back and forth between using a debit and credit card it’s easy to make a mistake and use the wrong card when in a hurry. Some people you use a credit card to pay for things in the first half of the month and typically pay it off in the second half after receiving another paycheck.
If you do use a credit card and then pay it off each month, I recommend picking the budget categories the credit card will be used for and not mixing and matching across categories.
3. You ignore your spending.
This one is obvious and probably the most common. If you’re spending without a plan and not managing your cash flow each month you’re bound to spend more than you have. Creating a budget is critical to keeping your finances in order.
4. Don’t track your spending.
Perhaps you don’t exactly ignore your spending, but you’re not exactly tracking it either. A good way to do this is either by writing down transactions in a not pad or spending form. A more common way that can save time is using budgeting software.
So, there you have it, 4 common ways to overdraw. So, what do you do if you overdraw your checking account?
What to do if you overdraw
So, maybe one of the above four situations is you. What do you do now and how do you quickly avoid $140 per day (remember, B of A charges $35 per transaction overdrawn up to 4 per day)? Consider these tips to correct the situation. Note: this approach assumes this is not a regular reoccurring issue for you.
1. Deposit cash as soon as possible
If you have the cash, or it’s in a savings account, make sure you get a deposit into the account to bring your balance back to a positive amount immediately.
Note: you don’t want to be in a situation where you have to wait a few days to transfer money from your savings account. If you have savings at another institution you need to be able to get that money out of an ATM ASAP. About the only way to do that is to have another checking account you can quickly transfer money from your savings to checking. This is a common situation for those who have savings in an online high-yield savings account.
2. Contact customer service
Don’t delay. Contact customer service as soon as possible. Contact customer service immediately and explain you have deposited money in the account. Try to do this all in the same morning to show you’re on top of your mistake and trying to correct it.
3. Humble yourself
Humble yourself and ask for help. Explain you made a mistake and simply ask “would you please help me by removing these overdraft fees.” The key here is making sure the person understands you made a mistake and that you now need help. Don’t point your finger back to the bank. Stay level headed, humble and kind and very often, the fees will be removed.
4. Be Persistent
Be persistent in working your issue. If someone in customer services doesn’t remove your fees, kindly ask to speak to a supervisor. Then, explain the story again asking the supervisor for help.
You have a few remaining options if the supervisor is unable or unwilling to help. First, you can call back and speak to someone else. Second, you can make a visit to your local bank (if possible) and speak to someone in person. Most of the time, with this persistence, you’ll be able to get your fees credited to your account.
Other preventive measures to avoid overdrawing
1. Overdraft protection services
Protect yourself with overdraft protection services. Bank of America offers over draft protection through a savings account, credit card or line of credit. Make sure you understand the agreement as transfers or other fees may apply.
2. Opt-out of overdraft protection.
Many customers don’t realize when they open their account that banks will let you overdraw by default, but charge a fee (usually around $30) per transaction. Starting in October of last year Bank of America changed its policy. They stopped charging customers who overdraw their accounts by less than $10 per day. They also limited the number of overdraft fees to four per day which are still $35 per overdraft. But, you have to tell the bank you want to opt-out of overdraft protection.
3. Keep extra money in your account
The final option is keep extra or hidden money in your account. Deposit a $100 but don’t record the transaction. In other words, forget the money is there and use it as a safe guard against overdraft mistakes.
The most important thing to keep in mind in overdrawing your checking account is that it’s you’re fault. Personally, I think it’s a little shady for banks to charge the fees (especially $35) and that people have to choose to opt-out. But remember, it’s your responsibility as the money manager to insure overdrawing doesn’t occur, so the fees can be avoided without excuse.
Okay, time for some honest comments. Who has overdrawn and how did you correct the issue?