Pros<\/h4>\n \n - Safer than mailing cash<\/li>\n
- A bank account typically isn't required<\/li>\n
- Can't bounce as it's paid for in advance<\/li>\n
- Can be tracked internationally<\/li>\n <\/ul>\n <\/div>\n \n \n
Cons<\/h4>\n \n - Fees for both the sender and receiver<\/li>\n
- If you cash it in a foreign currency, you probably won't get a good exchange rate<\/li>\n
- Not globally accepted \u2013 double check the country you're sending to<\/li>\n
- Low sending limits \u2013 typically \u00a3250 or less per postal order<\/li>\n
- Has to be physically delivered before it can be cashed<\/li>\n
- Cancellation and refunds can be expensive and take upwards of 30 days<\/li>\n
- May require multiple forms of ID to cash<\/li>\n <\/ul>\n <\/div>\n <\/div>\n<\/div><\/article>
Is using an international postal order my best option?<\/h3>
No, an international postal order is almost never the cheapest way to send money internationally. You’ll need to pay fees, as might your recipient, who is also likely to get poor exchange rates when cashing it at a bank or local post office.
Compare money transfer services<\/a><\/p><\/i>Let’s crunch the numbers: Sending \u00a3250 to Canada<\/h4>
Let’s say you need to send \u00a3250 to family in Canada and want to know if sending an international postal order is your best choice. Here’s what you might face as far as fees, exchange rates and sending speeds are concerned.<\/p>
<\/th> Digital money transfer service<\/th> Cash transfer<\/th> International postal order<\/th><\/tr><\/thead> Fee<\/strong><\/td>\u00a30<\/td> \u00a33.99<\/td> \u00a312.50 + additional fees to cash<\/td><\/tr> Exchange rate<\/strong><\/td>1 GBP = 1.705 CAD<\/td> 1 GBP = 1.637 CAD<\/td> 1 GBP = 1.582 CAD<\/td><\/tr> Transfer speed<\/strong><\/td>1-2 days<\/td> Minutes<\/td> 7-10 days<\/td><\/tr> Amount received<\/strong><\/td>CAD 426<\/td> CAD 409<\/td> CAD 395<\/td><\/tr> Verdict<\/strong><\/td>- Best value<\/li><\/ul><\/td>
- Fastest<\/li><\/ul><\/td>
- Slowest and most expensive<\/li><\/ul><\/td><\/tr><\/tbody><\/table>
The international postal order is both the slowest and most expensive option. You can only send up to the value of \u00a3250 per postal order \u2013 meaning if you want to send more you’ll have to buy additional orders, which means more fees.<\/p>
The recipient may also be charged additional fees when they cash the postal order(s). Plus, the exchange rate they get when cashing the postal order may be weaker than the rate featured in our table, which is based on bank rates.<\/p>
A cash transfer service could almost always have the money there faster and available for cash pickup at hundreds of locations, while a digital service could deliver the money directly to your recipient’s bank account if desired.<\/p>
Cons<\/h4>\n \n - Fees for both the sender and receiver<\/li>\n
- If you cash it in a foreign currency, you probably won't get a good exchange rate<\/li>\n
- Not globally accepted \u2013 double check the country you're sending to<\/li>\n
- Low sending limits \u2013 typically \u00a3250 or less per postal order<\/li>\n
- Has to be physically delivered before it can be cashed<\/li>\n
- Cancellation and refunds can be expensive and take upwards of 30 days<\/li>\n
- May require multiple forms of ID to cash<\/li>\n <\/ul>\n <\/div>\n <\/div>\n<\/div><\/article>
Is using an international postal order my best option?<\/h3>
No, an international postal order is almost never the cheapest way to send money internationally. You’ll need to pay fees, as might your recipient, who is also likely to get poor exchange rates when cashing it at a bank or local post office.
Compare money transfer services<\/a><\/p><\/i>Let’s crunch the numbers: Sending \u00a3250 to Canada<\/h4>
Let’s say you need to send \u00a3250 to family in Canada and want to know if sending an international postal order is your best choice. Here’s what you might face as far as fees, exchange rates and sending speeds are concerned.<\/p>
<\/th> Digital money transfer service<\/th> Cash transfer<\/th> International postal order<\/th><\/tr><\/thead> Fee<\/strong><\/td>\u00a30<\/td> \u00a33.99<\/td> \u00a312.50 + additional fees to cash<\/td><\/tr> Exchange rate<\/strong><\/td>1 GBP = 1.705 CAD<\/td> 1 GBP = 1.637 CAD<\/td> 1 GBP = 1.582 CAD<\/td><\/tr> Transfer speed<\/strong><\/td>1-2 days<\/td> Minutes<\/td> 7-10 days<\/td><\/tr> Amount received<\/strong><\/td>CAD 426<\/td> CAD 409<\/td> CAD 395<\/td><\/tr> Verdict<\/strong><\/td>- Best value<\/li><\/ul><\/td>
- Fastest<\/li><\/ul><\/td>
- Slowest and most expensive<\/li><\/ul><\/td><\/tr><\/tbody><\/table>
The international postal order is both the slowest and most expensive option. You can only send up to the value of \u00a3250 per postal order \u2013 meaning if you want to send more you’ll have to buy additional orders, which means more fees.<\/p>
The recipient may also be charged additional fees when they cash the postal order(s). Plus, the exchange rate they get when cashing the postal order may be weaker than the rate featured in our table, which is based on bank rates.<\/p>
A cash transfer service could almost always have the money there faster and available for cash pickup at hundreds of locations, while a digital service could deliver the money directly to your recipient’s bank account if desired.<\/p>
Is using an international postal order my best option?<\/h3>
No, an international postal order is almost never the cheapest way to send money internationally. You’ll need to pay fees, as might your recipient, who is also likely to get poor exchange rates when cashing it at a bank or local post office. Let’s say you need to send \u00a3250 to family in Canada and want to know if sending an international postal order is your best choice. Here’s what you might face as far as fees, exchange rates and sending speeds are concerned.<\/p> The international postal order is both the slowest and most expensive option. You can only send up to the value of \u00a3250 per postal order \u2013 meaning if you want to send more you’ll have to buy additional orders, which means more fees.<\/p> The recipient may also be charged additional fees when they cash the postal order(s). Plus, the exchange rate they get when cashing the postal order may be weaker than the rate featured in our table, which is based on bank rates.<\/p> A cash transfer service could almost always have the money there faster and available for cash pickup at hundreds of locations, while a digital service could deliver the money directly to your recipient’s bank account if desired.<\/p>
Compare money transfer services<\/a><\/p><\/i>Let’s crunch the numbers: Sending \u00a3250 to Canada<\/h4>
<\/th> Digital money transfer service<\/th> Cash transfer<\/th> International postal order<\/th><\/tr><\/thead> Fee<\/strong><\/td> \u00a30<\/td> \u00a33.99<\/td> \u00a312.50 + additional fees to cash<\/td><\/tr> Exchange rate<\/strong><\/td> 1 GBP = 1.705 CAD<\/td> 1 GBP = 1.637 CAD<\/td> 1 GBP = 1.582 CAD<\/td><\/tr> Transfer speed<\/strong><\/td> 1-2 days<\/td> Minutes<\/td> 7-10 days<\/td><\/tr> Amount received<\/strong><\/td> CAD 426<\/td> CAD 409<\/td> CAD 395<\/td><\/tr> Verdict<\/strong><\/td>