Sending money overseas

[Lamb]

What is the best way to send money to someone who lives overseas? How are the fees?

 

[tango]

What is the best way to send money to someone who lives overseas? How are the fees?

A lot would depend where you're sending from, where you're sending to, and whether you're sending your currency or theirs.

If you're sending your own currency overseas the cheapest way is to put banknotes in a card and mail it. Staple the notes to the card, so nobody can slit the end of the envelope and slide the notes out.

If you're sending their currency, or sending enough that physical cash is inadvisable, it would still depend on how much money you're sending and whether it's a one-off or a regular payment. If it's really regular it may be worth considering getting an account in their currency. If it's a small amount and an infrequent occurrence the chances are you might as well just use a PayPal gift or similar.

What currency are you looking to send, and to where?

 

[Lamb]

I wasn't thinking in specifics. I was just wondering what good methods were. Americans have always been told not to put cash in the mail...I think we have too many dishonest postal workers

 

[tango]

I wasn't thinking in specifics. I was just wondering what good methods were. Americans have always been told not to put cash in the mail...I think we have too many dishonest postal workers

Cash in the mail is untraceable, and the postal workers can only steal it if they know it's there.

If you stuff a few $100s in an envelope it's pretty obvious what it is just by holding it up to the light. Put them inside a folded piece of paper and it's less obvious. Staple them inside a birthday card and put it in a padded envelope and it's less obvious still.

 

[Krissy Cakes]

When my mom sends me money she sends me a check and puts in it in papers so like you say no one can see it. And when I get it I call her so that she knows as if I don't get it when she can call her bank and cancel the check.

 

[Jesus Saves]

Hmm, I don't have any idea. I haven't sent any money overseas.

 

[Ruth]

Have you tried Paypal.com? If you have an account and the other person gets an account there too you can send money.

 

[Rens]

Just put it on my bank account.

 

[Lamb]

Just put it on my bank account.

Just to test it out, right?

 

[tango]

Have you tried Paypal.com? If you have an account and the other person gets an account there too you can send money.

If you're talking about relatively small amounts and a one-off transfer the chances are PayPal is as good a way as any, especially if you send it as a gift so they don't lose 6% of it in fees.

For overseas transfers the last I saw PayPal's currency rates were pretty lame so if you're talking a chunk of cash or regular payments there are better ways. Hence the question comes back to the amount and frequency of transfer.