Monday, 11 June 2012

Different options, time limit and cost criteria of overseas money transfer

Overseas money transfer has become much easier and faster now. Furthermore, due to high competition in this field, money transfer centers are providing their service at much cheaper rate. Yes, this is quite of good help for those who require frequent fund transaction to financially support their family members or pay for medical bills or for other obvious reasons. Let us now take a closer look at different money sending options as well as cost and delivery time related to it.

Online Banking

Send Money Overseas
Send Money Overseas
Most probably, it is the easiest way to Send Money Overseas. Online banking allows you to transfer money directly to others’ accounts, no matter whatever your purpose is. You just need to set up an account and make transfer through it. However, the account number and transit routing number of the recipient are a must-have for you to transfer money. Money transfer through online banking takes 2-4 days. It is highly reliable mode of overseas money transaction. As far as charge is concerned, some banks offer cost-free service for online banking. 

Transit Routing Number

A transit routing number is popularly known as ABA number or RTN (Routing Transit Number) or check routing number. The number is basically a 9-digit code to identify the branch of the bank and its location. At the time of online money sending, you will ask to provide this number. 

Wire Transfer

For a large bulk of money, wire transfer is a good solution. However, you need to pay for ‘through wire’ money transfer service. Fee varies from one transfer house to another, however ranges between $10 and $15. High speed is what has made wire transfer one of the most popular modes of money sending. Usually, money delivery is done within the same working day. As large sum of money is transferred, so the centers offer high security.

International Money Transfer
International Money Transfer

Nowadays, the money transfer centers are quite busy with providing International Money Transfer service. It is because more and more of people are going abroad and settling there. So, it is quite natural for them to send money to their home country on a frequent basis. So, the important factor is to locate a reliable service provider who does it within minimum time, provides high security but does not ask for a whopping figure for their help.

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