I've used a variety of services over the years to transfer money overseas to countries including Ukraine, Romania, Bangladesh, Bulgaria, Belarus, etc. but I have yet to find a good "one size fits all" service. Services I have used include: Moneybookers Paypal Moneygram Western Union Ikobo Bank Wire etc.
How do you transfer money overseas? Shouldn't this process start to become easier with modern technology?
There are lots of prior threads on this. If the search function isn't giving you anything, simply read over the finance forum topic headings for the last 6 weeks and I guarantee that you will find at least one thread on this, probably 3.
Also where in the world matters some places are great for south america might not be great for africa or europe. Think about where you want your money and tailor your pick to that.
If it is a significant amount of money, I'm not sure if there is a good reason not to do a wire transfer.
OP, if you are moving money to accounts you have signature authority on in foreign countries, make sure you are complying with the FBAR reporting requirements.
finophyte
Member
posted: Nov. 4, 2009 @ 2:55p
I doubt you will find any one-size-fits-all when it comes to any matter of finance. Given different markets, I would recommend you consider what is best for a given region or country and work that when needed.
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