You no longer have to go to a money transfer office to schedule money transfers. You can send money to friends and family from the comfort of your home with online money transfer services.
Many of the traditional money transfer services now offer the option of making a transfer over the phone or online at their website. Other companies have been started in recent years that exist solely as online services. Here are two of them to consider.
Western Union has been doing regular electronic money transfers for years and has now expanded into online service via the internet. You have several options when using their online service for payment. If you need the money to arrive quickly, you can pay with a debit or credit card. If it is not an emergency, you can use your bank account to transfer money.
You create an online profile with Western Union that you can go back to anytime you need to send money. Then you choose your options based on what you need. The receiver can get their money several ways:
- In their bank account
- At a Western Union agent near their location
- Delivered to their home or office
- In their mobile wallet
If you don’t feel comfortable sharing your bank information with Western Union, they also provide WU Pay. With this option, you can set up a payment in your Western Union account and they will send a bill. Then you go to your bank account’s online bill pay and pay the bill like you would any other.
With all of these options, you receive email confirmation to know that the money has been sent.
Xoom is a newer money transfer company founded in 2001 and located in San Francisco. They handle all transfers online and send money to the following countries:
- The Philippines
- Latin America
- South Africa
You must sign up on their website before you can send money. Once you create a profile, you will enter the recipient’s information, including their name and country, how much you want to send, and how you want them to receive the money. You have three options on this: bank deposit, pick up in person, or delivery to their home. The latter two options may not be available in all countries.
You will also need to know the recipient’s address and bank information (if depositing into their account) and contact phone number. You will then enter your payment information where you have the option of paying from your bank account or with a credit card. You will have a final chance to review the transaction before submitting.
It’s much easier to send money today with online money transfer services. You have multiple options, which allow you to select the most affordable choice with the best features. These are two of the best known companies, one that has expanded their services and one that only provides online services.