Transfer System

A comparison of Xoom Money Transfer Between $ 1,000, Moneybookers, Western Union, Moneygram and Ikobo

What follows is a comparison of only some of the major money transfer companies operating today.

The comparison has been drawn up assuming you are sending $ 1000 Cash America, New York, to a person abroad in the Philippines.

All prices are correct at time of publication.

Western Union:

Money transfer fee: $ 15
Total Amount: $ 1,015
Exchange rate 1 U.S. Peso Dollar = 43.0868732 Philippine
Local currency pay = 43086.87 Philippine Peso

One of the largest providers of money and most reputable transportation service in Market Square more than 150 years of experience. They offer both online and the money transfer services to over 310,000 agent locations worldwide in more than 200 countries.

Money transfers through Western Union are possible, both physically in one place or agent in minutes using your online service. Money is transferred almost immediately. A phone call confirming the money transfer is sometimes required to confirm the transaction as well. The beneficiary is to surrender his passport and also control the number of money transfer (MTCN) to collect their money.

Pros: instant cash transfers, large worldwide network of agents (collection and delivery points), there is no need for anyone bank account details, payment in local currency, messaging services and a transaction guaranteed safe.

Main Advantages: funds transferred within minutes, transfers can be made online or offline, receiver pick money from the sale in local currency, there is a huge network of agent locations worldwide, the receiver does not need a bank account to receive funds and there are other message services also available.

The main disadvantages: Generally this is one of the suppliers of more expensive money transfer, you may be asked to make a phone call home to confirm the transfer.

Ikobo:

Money transfer fee: $ 5
Amount Total: $ 1,005
Exchange rate U.S. $ 1 = 44.31 Philippine Peso
Local currency pay = 4431.50 Philippine Peso

This system uses the global network Visa ATM machines worldwide to transfer money overseas. First you register for an account online then arrange a card Rechargeable special visa to be sent via FedEx to the recipient of the money. You can deposit money onto the card online which then becomes immediately available the person holding the Visa card in whatever country they are in.

Pros: low fees charged to reload the card online, anyone may have an iKobo card assigned to them, very few credit checks are necessary, reduces the need for someone to have to take large amounts of money around with them.

Cons: The card can only be used with Visa ATM, which despite being part of a huge network from time to time may be limiting factor, although this is becoming less and less the case.

Moneygram:

Money Transfer fee: $ 14.99
Total Amount: 1014.99 U.S. dollars
Exchange rate U.S. $ 1 = 43.210159 Philippine Peso
Local currency pay = 43.210.16 Philippine Peso

MoneyGram operates in over 180 countries with more than 152,000 agent locations for you to pick up or send money. They also have an efficient online service and are able to pay money directly in U.S. bank accounts and utility companies pay the bill too.

Pros: The money is usually available within 10 minutes money transfers. Exam questions can be used to transfer money if the recipient does not have identification. Up to $ 10,000 can be sent to any individual transaction with a maximum of two per day.

Cons: Bad luck for none U.S. citizens.

MoneyBookers:

Money Transfer Fee: $ 1, under 1% of the total money transfer.
Total Amount: $ 1,001
Exchange rate U.S. $ 1 = European Central Bank daily rate
Local currency pay = not known, given any contribution
Additional Charges: 1.75% is also added to the interbank rate whenever there is an exchange of currencies among banks.

Moneybookers to send money worldwide online via an email address. Of course, all registration procedures applicable record. The recipient does not need an account though other money transfer companies require them to have. The website is available in 12 different languages and can pay more than 30 countries.

Pros: money transfers with instant money transfer low and very competitive fees, high levels of security, additional services, such as sending messages via SMS and fax are also available.

Cons: Although fast and efficient network of agents and the ability to transfer money worldwide is still fairly limited.

Xoom Money Transfer:

Money Transfer Fee: $ 15.00 for the service value (the U.S. account holders only) of otherwise it is $ 43.00!
Total Amount: $ 1,015 / $ 1,043
Exchange rate U.S. $ 1 = there is no exchange rate information provided on website.
Currency local pay = no information given.

This service is available online. Simply follow the instructions in the user-friendly website and you are able to send money very quickly. You can choose from money to be delivered by hand, taken from a place or into a bank account or Paypal account. You will monitor Xoom number to be sent to the recipient.

Pros: Money transfer rates are generally cheaper than Wester Union. Being able to transfer money directly to a U.S. bank account is also seen as a huge positive for many people living abroad.

Cons: So far, the scale your network is not comparable to the other major money transfer countries including only 30 countries. For example, as yet not possible to transfer money to Bangkok, Thailand a major city in South East Asia.

In conclusion:

Given the available information indicates is Ikobo the most advantageous with the lowest transfer fees and better exchange rate! Paypal have not been considered by the fact that it is very difficult for international users (on particularly in Asia) to monitor bank accounts where money can be deposited Paypal. This means that money can be in your Paypal account, but they simply can not remove an account ot physically get their hands on it!

As you can see there are a lot of variables to the degree a money transfer service companies. Depends on what you choose exactly what you require of your money transfer company and then go and find the one that best suits your needs.

About the Author

Money Transfer Review provides free money saving comparison charts, safety tips and money saving advice for all your money transfer needs. Simply click: Money Transfer or Transfer Money Overseas to discover more.

Ajax Custom Shock Transfer System Test G&G M16 564 fps Airsoft Rifle