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Money wiring services are an absolutely fantastic way to send money to people that may be in a different state or even a different country. When sending money via the mail or other methods is simply out of the question, money wiring can make the process faster, simpler, and more secure so you can be sure your recipient is getting the money you send. Using money wiring services is easier than you might imagine. With these steps you can get started and get on the road to sending money today.
Choose Your Service
The first step is to decide what service is going to work best for you and for your recipient. Online money wiring services are fairly universal and do not require that there be a physical location in either of the countries that the money is coming from or going to. This makes them highly versatile and perfect for overseas money transfers. Choosing your money sending service should not take a great deal of time. You need to know a bit about fees that may be associated with a particular service, what time frame to expect, and what information you need for a successful transfer.
Gather Transfer Information
You are going to need to gather a few different pieces of information to assure a successful money transfer. The first is your own personal information like your name, your address, and payment information. You may also be asked to supply your social security number or ID on a money transfer site for security purposes. Your personal information is required by federal regulations to ensure a secure and legal money transfer.
You will also need the basic information of your recipient. This means things like address, name, phone number and bank account numbers if you are doing a direct wire transfer to their bank account. Say you are transferring money to Mexico, you will need specific information for the transfer to take place such as the bank’s name and contact information. Make sure to call your recipient in advance to gather all this information.
Determine Payment Method
In most cases you can send money via a few different methods. The first and most common is to use your debit card or your bank account to direct deposit funds from one bank to another. This is an easy method but there may be fees associated with it as most banks are going to charge transfer fees. You may be able to avoid transfer fees if you use a debit card to transfer the funds as this can be processed as a credit card. Another payment method that you may use is a credit card. This is again a very easy method and the numbers can be plugged directly into the site you are using to get the funds transferred. You may also use an online based credit card as well.
Choose a Delivery Method
The last thing you will need to know is the delivery method for your money transfer. There are a few different delivery methods to consider. The first is direct deposit into the recipient’s account. Though this going to be easy but may not be possible if the person you are transferring to does not have a bank account. You can also have money delivered to their home or to a designated pick up location. You may have multiple options depending on the money transfer services you choose.
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