How do you transfer/send money?

scotti385 · Apprentice Joined: 14 Sep 2010 Posts: 2

I would like to send some money to my family in a different town. I could do it by transferring to another account in their bank. I'm planning to send money every month. How do you transfer/send money? In what ways could I do it and what is the best? Is it safe and how long does it take? Thanks for any help!

chickie · Apprentice Joined: 03 Nov 2006 Posts: 4

There are many ways for sending money nowadays and you should choose a proper one concerning your needs. Conditions of transfer depend on financial institution you are using and a service you chose. You can use an agent to get the money to the location you requested. Another way is to arrange transfer by phone which would require debit or credit card and you just inform a person where to pick up the money. You can also do it on-line or by mail, but since you want to transfer to another account it's better to make wire transfer. This way you would get a fast service of about several minutes and it's not expensive. Fee for transferring to another account depends on an amount you're sending, because certain percentage is taken. For transfers within the country fee is not high, and it could be more expensive if it's another bank's account. On-line transfer could also be done, but it's a slower option. Maybe you could use prepaid card which could be reloaded. You can give it to your family to take money off every month and then you make payment to it again.