Compare your options and shop around for a great deal when you need to send money to Liberia from the US.
When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Liberia doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the most for your dollar.From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Liberia is easy. However, do your research and shop around for the best available deal.
World First International money transfers
Special $0 fee offer for finder.com readers
Because World First is a trusted partner of finder.com, you can send your money transfer overseas for free.
No fees: There is no online transfer fee for all finder.com customers.
- Enjoy competitive exchange rates.
- Spot contracts, forward contracts and limit orders are available.
- Receive weekly updates on market exchange rates.
Compare money transfer services to Liberia
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Liberia with our money transfer partners.
How do international money transfers work?
An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Liberia. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.
Banks versus money transfer companies
Unfortunately, many US banks don’t offer international money transfers to Liberia, in part due to political instability in the country in previous years and also due to Liberia’s association with the blood diamond trade — check with your bank for a list of approved transfer destinations. In any case, banks don’t offer affordable options when you need to send money overseas, with poor exchange rates and high transfer fees.
Specialist money transfer companies are the best place to start. These companies, such as OFX and WorldRemit, offer fast, secure and much more affordable transfers to Liberia and around the world. Their fees are usually lower than the banks’, their exchange rates higher and the transactions can be handled from the comfort of your own home.
Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Most countries’ exchange rates are flexible, which means they can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
How to compare transfer companies when transferring money to Liberia
By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.
- Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
- Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
- Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
- Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
- Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
- Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
- Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.
Case Study: Tony Sends Money to Liberia
Tony wants to send money to his sister Janine, who is completing a schedule of volunteer work in Liberia but has unexpectedly run out of money. His bank doesn’t offer transfers to Liberia, so Tony seeks out two cash pickup transfer companies to see which one offers the best deal when transferring $1,000 from the US to Liberia.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||US dollars||US dollars|
|Transfer method||Cash pickup transfer||Cash pickup transfer|
|Processing time||10 minutes||10 minutes|
|Amount received (in USD)||$1000||$1000|
In order for Tony to make a transfer, he is only able to send US dollars. With transfer company two, Tony can save $15 on the transfer fee.
How to send money to Liberia
Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.Back to top
What are the ways that I can send money to Liberia
- Bank transfers. Many major US banks will allow you to send money to Liberia.
- Money transfer providers. Providers like Ria and World First can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from the US to Liberia.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
How safe is a money transfer?
When you use a reputable provider, your funds are safely tracked until in the hands of your recipient. There are federal protections in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
You might need to send an emergency cash transfer to Liberia — for example, if a friend traveling through the country loses their wallet. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.
Picking up cash
Whether picking up funds in Buchanan, or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.
- Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
- Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
- Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
- Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
Overseas money transfers are easy, no matter which method you choose. But knowing how to compare your options gives you a leg up in terms of cost, rates and transfer speeds. An informed choice is your better choice.