Sending Money to Family Overseas

Information verified correct on December 7th, 2016

Use these methods to send monetary gifts to family overseas so you can pay less fees and benefit from better exchange rates.

There are several ways you can transfer money to your family abroad, or an overseas recipient. One of the slowest method is to purchase an international money order from a bank – basically a cheque in foreign currency and post it to your family member.

Rates last updated December 7th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
WorldRemit International Money Transfers
An online money transfer service ... with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
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World First Foreign Exchange
Transfer money into a range ... of currencies online and over the phone.
USD 500 2 days
OnlinePhone
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Transferwise International Money Transfers
Make online transfers in a ... range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
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changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
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Travelex International Money Transfers
Get your foreign currency delivered ... to your home or pick up at a store.
USD 500 2 days
Online
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Currencies Direct International Money Transfers
$0 online transfer fee that ... you can access 24/7.
USD 100 2 days
OnlinePhone
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USForex International Money Transfers
Take advantage of competitive exchange ... rates and cheap transfer fees.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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MoneyGram International Money Transfers
Send money anywhere, from anywhere.
USD 1 Same day
OnlinePhoneAgent
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TorFX International Money Transfers
TorFX guarantee to beat any ... competitor's exchange rate for a transaction. Conditions apply
USD 100 1 day
OnlinePhoneAgent
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Western Union Money Transfers
Send money online to friends ... and family around the world with Western Union.
USD 1 Same day
OnlinePhoneAgent
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International money orders can cost as much as transferring it by telegraphic transfer. This is an interbank electronic transfer from your bank account to the recipient’s bank account overseas. This is a very secure way of sending money, but quite expensive.

There are also a number of money transfer companies which you can approach and pay to send money to their office overseas, where it gets picked up by the recipient. This can either be done in person at an office, online, or even, in some cases, by phone or email, especially if you have already set up an account with them.

To send money to a family member overseas, you will need the banking and personal details of the recipient. For a step-by-step guide and comparison of services, please see the link below.

Which international money transfer services let you transfer money?

Any of the main trading banks, such as JPMorgan Chase, Bank of America and Wells Fargo provide a money transfer service overseas. It is normally easier and cheaper to use your own bank to purchase an international money order or make a telegraphic transfer.

Usually all you need is the recipient’s name and the local currency for an overseas cheque. If you make a telegraphic transfer, you will need to know the bank account details of the recipient and you may also need to know their bank’s SWIFT code.

Some specialized money transfer companies will get your money transferred within hours for a fee like Western Union and Moneygram. These companies have agencies and outlets all over the USA and many other places in the world, including quite remote places, too. You may be able to transfer money online through them as well. One advantage of this service is that the recipient doesn’t have to have a bank account. All he or she has to do is to show identification at the office where the money is sent to.

If you have a PayPal account, you can also send money to any other PayPal account for a fee. The recipient can then transfer that money into their own bank account, as long as they have set that up, which then can be access by using their linked debit card.

Are there any other considerations when transferring money?

There are several things to consider before rushing in and sending off some money to someone overseas. Unless it is an emergency, an hour or two looking into the best way of sending the money and making some comparisons will mean that whatever is sent will cost you the least.

How fast is the money needed?

This will determine whether you send a cheque like an international money order or you send the money by one or more of the electronic transfer methods.

Which country is the money being sent to and what currency is it going to be exchanged into?

A few countries prevent money from moving into the country from overseas, but it is worth checking to make sure that whichever way you send the money it will actually be able to be collected and in the right currency.

Fees and exchange rates

Whatever method you use, you will have to pay a fee for the service and there will be an exchange rate that will vary from day to day and company to company. It is worthwhile hunting around between the transfer agencies and banks to see which is the best combination. Be mindful that exchange rates can change rapidly from one day to the next making your comparisons meaningless.

What are the minimum and maximum amounts that can be sent?

Make sure that whatever amount you need to send that it can be sent by the method you choose. Most companies will readily transfer amounts up to several thousand. Specialized companies like OFX or TorFX are also available if you need to send particularly large amounts of money overseas.

What kind of security is available?

This is something you should consider if using an unusual money transfer company or using an online service. Find out, for instance, what happens to the money you send if it is not picked up by the recipient.

Sending money to friends or family overseas is quite common, such as for a wedding, medical expenses or just to give a hand. Remember to use a reliable operator that lets you send money easily, quickly and does it for minimal fees.

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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

USForex International Money Transfers

Take advantage of competitive exchange rates and cheap transfer fees.

World First Foreign Exchange

Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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