Wondering how to send money to Vanuatu from the U.S.? Here’s the info you need.
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 Vanuatu doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the best deal.
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- Enjoy competitive exchange rates.
- Spot contracts, forward contracts and limit orders are available.
- Receive weekly updates on market exchange rates.
Compare money transfer providers
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 exchanges the money into your desired currency, and then sends the money to your recipient in another country — in this case, Vanuatu. 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 international money transfer companies
We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.
You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.
See how a big bank stacks up against two money transfer providers when transferring $1,000.
|Big bank||Money transfer company 1||Money transfer company 2 with cash pickup|
|Exchange rate||1 USD = 100.00997 VUV||1 USD = 107.85 VUV||1 USD = 106.27 VUV|
|Transfer fee||$45 USD||$10 USD||$30|
|Amount received minus the transfer fee||99,964.97 VUV||107,840.00 VUV||106,240.00 VUV|
|Transfer time||2-4 business days||1-2 business days||In minutes|
|Transfer options||Bank account deposit||Bank account deposit||Bank account deposit, cash|
How do I compare money transfer companies?
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.
What are my options for sending money to Vanuatu from the U.S.?
- Bank transfers. Many major U.S. banks can safely wire your funds to countries around the world. Banks rely on existing links between banks and banking systems worldwide. However, a downside is the frustratingly high fees and weaker exchange rates you’ll receive by going through your bank.
- Online money transfer services. These specialists offer more affordable transfers than banks do, allowing you to quickly and easily manage your transactions from home. With competitive exchange rates and lower fees, you can send funds from your bank account. Many also allow you to pay with a credit or debit card.
- Providers with cash pickup. Trusted providers like Western Union and MoneyGram offer the key advantage of giving your recipient fast access to the cash you send — sometimes within minutes. You can often pay online or at one of thousands of agent locations worldwide. However, services typically cost more than an online transfer specialist and vary by where you’re transferring your money and how you’re paying for it.
- PayPal transfers. Not just for online purchases, PayPal offers transfers to more than 100 countries and supports multiple currencies. Its exchange rates are often better than those you’ll get from a bank but not quite as strong as rates from money transfer companies. PayPal calculates its transfer fee as a percentage of the amount you’re sending — meaning it’s often better for sending smaller amounts of money.
- International money order. You can get this type of money order from your bank and send it overseas to your recipient, who then cashes it in with their own bank. While more secure than a personal check, it’s a slower option than using an electronic transfer. It also costs a little more — you’ll have to purchase the check, and your recipient may be charged a fee by their own bank cashed.
Emergency cash transfers to Vanuatu
There are certain situations when you might need to send a transfer as quickly as possible. When you do need to send an emergency transfer, remember that you will usually have to pay extra in order to get your funds to your beneficiary ASAP. Make sure to check the exchange rate and fees that apply so you know exactly how much it will cost.Back to top
Tips for picking up cash in Vanuatu
Picking up cash from a transfer agent in Vanuatu? Follow a few simple steps to ensure that you and your money stay safe:
- Avoid any areas where crime is known to be a problem.
- Keep your wallet and/or bag safe and secure at all times.
- Take a friend along to provide additional security and peace of mind.
- Don’t flash your cash around in public.
- Don’t carry large sums of money around for any longer than is absolutely necessary.
Sending money to Vanuatu
When sending money to Vanuatu, you’ll usually need to create a free account with a money transfer provider. The process varies by company, but generally requires you to provide your name, contact information and proof of identity. If you’re not paying for your transaction with cash, you’ll also provide your banking info in order to have the funds withdrawn from your account.
Once you’ve selected a payment option and entered the full details of your transfer, you’ll make your transaction and wait for the funds to be delivered. You’ll most likely receive a reference number or receipt that you can use to track the progress of your transfer.
You have multiple options to choose from when sending money to Vanuatu from the United States. To get the best value for money for your international money transfer, compare the benefits and features of competing services before selecting a provider.