Wire Transfer Tips For Success

By Ted Mays

There are many services available to help mail money abroad. These companies do not have their own branches, but transfer money through agents in storefronts, convenience markets or check cashers. Typically, the fee for money transfers increases with the amount of money you sending.

Money transfer companies accept cash for transfer at walk-in offices or let you transfer money on the net or by telephone using a debit card or credit card. You let receivers know that you've posted the money and they can pick it up from the transfer company's local agent in their country.

Money transfer companies have higher costs than other companies, but the money is transferred fast - in an hour or less. Poor exchange rates offered by some money transfer companies can reduce the value of the money you send home. (The exchange rate is the price of a foreign currency expressed in U.S. dollars.)

Don't forget to take your receipt as you might need it as needed when problems are encountered. Demand for a receipt if you don't get one. If you are doing online transaction, you should also get a confirmation receipt or confirmation number. Take that.

Note of your Money Transfer Control Number (MTCN) confirming the transaction and mail it to the receiving party. He or she will present the MTCN when claiming the money you posted. Sign in to your account as necessary to check if your funds were received by the other end.

Don't use money transfer services in any way to send funds to a person you don't know. many scam artists ask victims to send them money this way. If you just sent a money transfer and suspect you might be a victim of fraud, make sure you instantly quit and close the transaction. If the transfer has not been completed, you may be able to get a return. - 29970

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