If you have family members that love to travel internationally, you may wonder how you can assist them if they ever ran into a bind, and not just by giving them awesome travel tips. Sending money abroad isn’t as complicated as you may think, you just need to take several things into consideration first. Your family may run into a financial emergency or you may just want to help them enjoy their trip even more. Take the time to learn about the best ways to send them money that will save you from paying high fees and ensure they get the money when they need it.
Currency Exchange Rates
One thing you have to keep in mind when sending your family money is currency exchange rates. Depending on where they are, the currency will vary. If you’re unsure about what the currency exchange rate is where they are, you can always use a currency converter to help you figure it out. If your family needs a certain amount of money for their trip, you’ll want to make sure you’re sending them the right amount of money. If they are in India, consider using Ria Money Transfer to send money to India.
You’re going to want to learn about the payment options available when using a service that allows you to send money abroad. Many of them have their own payment options, some of them might not allow you to pay in cash while other allow it. You’re also going to want to make sure you understand the maximum limit of money you can send. It’s also important to make sure whatever option you choose is safe and secure.
If you want to send money for as little as possible, make sure you know how much the service will charge you. The fees will vary depending on the service, the way you fund the transaction, and how quickly the funds will be available to the recipients. The faster the funds are made available to them, it’s likely the fee will be higher. Transfer fees can range anywhere from a couple of dollars to $12 or more.
Receiving The Money
How your family will receive the money is a big factor to take into consideration. If they don’t have their own bank account, it’s essential to find options that don’t require an account and let them have cash instead. Another option is using a prepaid debit card which you’ll be able to refill in the United States and make money available to them in minutes, but this option comes with numerous fees to take into consideration.
How Fast It Will Get There
Take into consideration if they need the money as quickly as possible or if they can wait a few days to get it. If they can wait, it would be a more inexpensive option to not choose a same-day service. If they need the money by a certain time, you’ll have to choose a service that will definitely be able to get the money there on time without any delays.
Sending money to friends and family traveling abroad is a great way to help them out when their funds run out. Make sure to choose a cost-effective option and ensure the money will get there when it needs to. Weigh the pros and cons of the available money sending services to make sure you pick the right one.