In the present era, money transfer is no longer the complicated and mysterious process it was a few years ago. These days, some companies can actually offer help people send and receive money in matter of minutes. It is just a matter of choosing the right outfit and paying very little fees for the transaction.
A number of different firms offer customers the opportunity to send and receive money across the world. Basically, the service is the same but there may be slight differences in the way these companies operate. There may also be slight differences in the fees these companies charge for the service they offer the customer.
PayPal claims it can help people send and receive money in most parts of the world. This outfit also claims that anybody with an e-mail address can benefit from the service they offer. It takes just ninety minutes to complete the average PayPal transaction and the speed of the transaction is a great selling point. It has to be pointed out that there are countries which do not benefit from PayPal’s service because the company does not operate in those places.
Companies like Western Union can be considered money transfer giants. This company operates in most parts of the world and handles billions of dollars every year. Another popular company in this industry is MoneyGram. This outfit operates like Western Union and has over 200,000 offices in different parts of the world.
Most money transfer companies charge flat rates for their transactions. Others charge a small percentage on each transaction and this makes the service affordable for most people. The best thing about the service offered by these companies is that it is cheaper than wire/telegraphic transfer. Again, it is more convenient and much faster. These are the points in favor of this method of sending money.