How to send money home when working abroad

Today’s economy is a global market where people are seeking employment in other countries. While Americans often joke about Mary Poppins, the terrible weather and sometimes the food, there are a number of Americans and Canadians working in the UK. There are many positions for those in the financial district and other professional roles. While working there, you might want to send money back home to family members. There are many apps and services for sending money. This will cover exactly what to look for in a money transfer service.

Countries and Nations
Since you want to transfer money internationally from the UK to America, Canada or any other country, the first thing you have to consider is if the transfer service accommodates this. All the other factors on this list can be amazing, but there’s no point in using the service unless the money gets to your intended destination. While international money transfer has gotten easier and you should have no problem sending it anywhere on the globe, you must still keep this mind.

Most money transfer service providers will proudly show what countries you can send money to. This should make it easy to see if the provider you pick works for your needs.

Transfer Limits

Transfer limits matter most when you’re sending a large amount of money. If you’re sending a small amount of money, then nearly any service provider should work for your needs. That changes when you’re sending larger amounts of money. Some service providers only allow you to send small amounts of money and have a hard maximum limit. Others might hit you with heavy charges after crossing a certain threshold.

Consider how much you need to send and make sure your money transfer service can accommodate it. This is most important for larger sums of money, but it’s still good to consider regardless of how much you intend on sending.

Price and Fees
Some service providers won’t charge a fee for domestic transfers, but there’s almost always a fee for international transfers. There’s no point in spending lots of money on fees. You want to ensure the recipient gets as much money as possible. Be sure to check the rates and fees when you transfer money internationally from the UK to your intended destination.

Some service providers also offer different services at higher or lower fees. For example, a faster transfer method will usually cost more than a slower one. Be sure to check all the provided services and see what you’re getting.

Ease and Convenience
This is for both you and the recipient. Starting from your perspective, you have to consider how convenient and easy it is to send the money. Anyone with a busy life knows how precious time can be. You may not have the time to fill out lengthy forms, visit a specific location that’s miles away or do anything else complicated. You want the money transfer to be easy and convenient. A faster and more convenient transfer service will be better for your needs.

Then you have to consider the ease and convenience for the recipient. Making them drive miles to pick up the money, fill out lengthy forms and submit various forms of identification is inconvenient. While you want the transfer to be safe and given to the right person, you don’t want it to be complex and difficult. Ask about the process and see if it’s reasonable or overly complex.

International money transfer has gotten much faster in the last few years. If you’re sending money at regular intervals for bills or other expected expenses, then speed may not matter that much. You can accommodate for the wait and everything should be fine. If an unexpected expense comes up, like for medical needs or car repairs, then speed suddenly matters much more. You can’t afford to wait 24 hours or a few days. You need the money to be available now.

Be sure to check the speed of your money transfer service. You’ll want to know if expedited transfers are available in emergencies or other time sensitive situations. You may have to pay a higher fee for this service, but sometimes that’s perfectly acceptable as long as the transfer gets there on time.

There are many international money transfer systems available. There are apps, service providers you drive to and more. Picking the right one largely depends on where you’re sending the money from the UK, the limit and price of transfers, convenience for both you and the recipient and overall speed of the transfer. Consider your needs and these factors and you should easily find the right international money transfer service.