Transfer Money Overseas

The money transfer business is a high margin business and therefore competitive and open to large price discrepencies.

This site aims to help the consumer research and find the best rates for doing overseas money transfers.

History of overseas money transfers:

As little as 10 years ago, the supply of money transfer service was small and the demand was huge.

Western Union was the major service in the U.S. and dominated the market, partly due to its vast number of agents around the globe.

Because of this, they charged high prices and faced little competition.

Now that there are more suppliers of these services, the costs have decreased dramatically.

The Global Remittance Market:

Remittances from emigrant workers make up a large part of the money transfer market and there are a lot of options for sending remittances overseas.

Are a few of the options are:

Cash Transfers
Money Orders
Banking Transfers
Post Offices
Banks
Credit Unions

The overseas money transfer market is over $160 Billion dollars per year.

The top 3 countries in the world for recieving remittance India, Mexico and the Philippines, and the volume of money sent to these countries has attracted huge competition from money transfer businesses.

Major commercial banks, credit unions, and supermarket chains are trying to get in on the huge global market of wire transfer and global remittances.

Information, Links & Phone Numbers:

Our site contains dozens of links to banks, informational sites and online money transfer services.

We also have some reviews and information about what businesses to use to send money to specific countries.

Check out our foreign exchange rate page for information you might want to know about the role that exchange rates play in transferring money overseas.

We also have some information about money transfer scams to avoid.