Money transfer from USA

If you live in the US and want to send money overseas, whether for acquiring a property, launching a business, sending a gift to a friend or for paying school tuition, there are several methods of money transfer from USA overseas. The US dollar is fully convertible to foreign currencies, after all it´s the world´s most traded currency.

Following are the most commonly used USA transfers:
You can send money overseas the traditional way, through inter-bank transfers, where both you and the receiver need a bank account. Well-known for their expensive services, banks have high exchange rates and fees and also it takes longer for the money to arrive to destination.

Money Transfer Operators, also called MTOs, are a fast option to transfer money abroad. Companies such as Western Union or MoneyGram, can send your money in matter of minutes worldwide. You only need an ID, fill in a form and pay a fee. That´s it! Your receiver will have the amount transferred in matter of minutes. It´s quite expensive sending amounts higher than $1,000, that’s why this option is recommended for small amounts of money and for emergencies.

Online Transfer Services are another way to transfer money internationally. You and the receiver will need a bank account or a credit card and Internet connection. Once you set up an account and pay a small fee you can transfer the money.

Prepaid Cards, also known as Gift Cards work just like a credit or debit card. You can order them online and once you have loaded the funds on the card, your receiver can use it. Prepaid cards can be used for shopping online, for travelling and even for withdrawing cash from ATMs.

The above options for transferring money overseas are recommended for small amounts of money. If you want to save money, when transferring large amounts, a Foreign Exchange Broker (FX broker) is recommended. Known to provide the best foreign exchange rates, FX brokers offer you a customized solution to your needs with benefits that may include fixed exchange rates for a set time. You just have to open an account with the chosen broker and fund it from your bank account or credit card.

FX brokers have, no doubt about it, the most competitive exchange rate and on top of that, they do not charge you any fee at all.x
Whether you need to make one-off or regular payments overseas, FX brokers are the best option you have.

Peer-to-Peer Money Transfers are an innovative way of sending money online, bringing the sender and the receiver to trade directly with each other. The way they work is simple: you register on a peer-to-peer money transfer platform, pay a small fee and start trading directly with your receiver at a rate close to the international market.

Money transfer businesses in the US are regulated at a state level, so when choosing a money transfer firm, you have to check if it is regulated in your residence state.