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International Money Transfer
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Money can be transferred around the world in a variety of ways. These include
- Telegraphic transfer
- Bankers Drafts
- Travellers Cheques
- Cheques drawn on your own bank account at home.
But if you're looking to transfer money quickly, your options include:
Instant transfer - companies such as Western Union and MoneyGram claim to be able to put money around the world in minutes. While all the leading banks and some building societies offer a service which will usually be cheaper but take a little longer, usually a few days.
International money transfer tends to be used by:
- people who want to move funds around to fund overseas holiday homes and keep family members in funds.
- business travellers
- The leisure traveller who needs emergency money if stranded or the victim of a mugging or burglary.
- people to pay emergency medical bills abroad.
- student travellers overseas.
See Also: Investment Centre Current Account Comparison Service Deposit Account Comparison Service Cash ISA Comparison Service
Last Updated: November 2007 © Moneyextra.com
Our senior editor Robin Amlôt recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.