Sending Money Overseas

[pjphilli]

Hi

What is the best way to send money overseas?
Anyone done this? I see that Paypal has a service but I am not sure how this works - any ideas?
I want to be able to prepay charges at both ends so that the recipient
receives the full amount that I wish to transfer.

Cheers Peter

[torana68]

small amount? I've sent cash before , not recommended but its worked every time so far. Otherwise Paypal, just add in the costs (whatever % they charge) they will need an account at their end I think then you just send it to their Paypal email address. If you go to the paypal site its all explained there.

[brisen]

Hi Peter

I have had no personal experience with doing this but many of the international students I have taught over the years receive money from family in their country of origin through Western Union. I know that they need you to have an online account with them (its free) and a credit or debit card which you can use. You also need the name and some other details of the receiver such as their address. Once you transfer the money they have pretty much immediate access to the funds through an agent in the country where you are sending it.

If you Google "Western Union" it should appear at the top.

Brian

[Hans Tucker]

You can send money through PayPal as a gift transaction and I believe this does not incur any fees. Other methods through PayPal usual add 3-4% on top of the transaction amount.

[Larryp]

+1 for Western Union

[JB80]

Most post offices are western union branches you just need to know which branch the recipient will be at and can do it in person if you like.

[marc4darkskies]

OzForex - less than 1% charge (why give the banks 3-4%??). You need the bank account details of the recipient and the Swift code for their bank. I've used them several times for large (for me) transactions.

Cheers, Marcus

[Stardrifter_WA]

Why not do a direct bank transfer, it is the safest method, or sign up to Paypal, it is very easy also AND you get some protection too. I use Paypal all the time. If the recipient also has Paypal, it is the easiest method to use, and is more secure than using a credit card. For a start, once you are sign up, you only have to log in and don't have to enter your details all the time. It really cannot be simpler.

I just placed an order with ADM using Paypal and I didn't even have to input my address, as Paypal does it all for me. :D It doesn't get any easier than that, but then, someone told me a long time ago, "give a lazy man a job and he will find the easy way to do it......every time." :lol: I always do!


Cheers Pete

[RickS]

I've used Ozforex several times as well and as Marcus said their rates are much better than the banks (and Paypal too, I expect). They will charge you a fee for a small amount so they would be most appropriate for medium to large transactions. You can get a quote easily from their web site if you want to compare to other options.

Cheers,
Rick.

[pjphilli]

Thanks for all the advice.

Pete - I would like to use PayPal as I have used it many times for internet purchases and it appears to be a very secure and reliable system.

My recipient also uses PayPal, so what do I need him to tell me so that I can ensure that the money goes to him?

My second preference would be to use Western Union as they appear to be the experts in this field.

Cheers Peter

[Stardrifter_WA]

You just give Paypal his account name, and they do the rest. Paypal will ask who the recipient is and you just enter his or her account details. Easy as.. I do it all the time, and there are no delays, as the recipient gets the money into their account almost immediately. I love Paypal. I use Paypal wherever I can.

As some say Ozforex may be cheaper, but Paypal has an added level of security if you don't get your goods. I don't know if Ozforex does the same. For my money, I would rather pay the extra couple of percent for the added security, but then, that is just from my perspective. Mind you, I have never had any problems either with overseas purchases, but then I am a bit paranoid when it comes to security, and take all precautions that I can. :sadeyes: My credit card also has purchase insurance too :) You just can't be too careful.


Cheers Pete

[pjphilli]

Thanks Pete - I will give it a go. Cheers Peter

[Merlin66]

Probably Paypal is the "safest" way to go...I just dislike the 4% charge I get and the exchange rates are always "out" by 1.5/2 %

[el_draco]

Paypal provides a level of insurance and its secure. Companies, you can use VISA and send them several of the codes seperately to avoid rip off. I use a VISA debit card and never leave cash in it unless I am about to send. If its compromised, no access to my other accounts. You can also do bank to bank transfer.