Billions of dollars are transferred to various countries every year– particularly in Africa, Asia, and Latin America – using remittance companies. According to the United Nations, over 231 million people lived outside the country of their birth in 2013, and the World Bank reported that migrants from developing countries sent home $414 billion during the same year.
For many years, foreign workers that wanted to send funds back to their families had little or no choice but to resort to going to banks, post offices, or a limited number of remittance companies. Today, there are many options available to anyone who wants to send money anywhere in the world online.
Here are the top 10 alternative to western union a
Travelex is a globally recognized provider of foreign currency services. As part of its services, Travelex International Payments allows customers to send money overseas to 177 countries. With more than 45 currencies supported and a simple online transfer process, Travelex allows you to send funds to your intended recipient on the other side of the world as quickly as possible.
In addition, if you transfer an amount larger than $5,000 you will not have to pay any transfer fee, which, combined with Travelex’s competitive exchange rates, helps make international money transfers more affordable. And if you register now, your first transfer is free.