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How to Wire Money

Introduction

In the most cases when there appears the necessity to wire money the people think about such services as Western Union or MoneyGram. The service points of these companies are located allover the country and you won't have to search for them for a long time. The costs of the money transfer operations usually vary from 3 % to 5 % from the whole sum plus the fees for bank transaction ( usually no more than 3 % in the case you want to cash your money).

Do's

Apply to the coordinate service

To transfer any sum of money via there services you will have either apply to the consulting manager or use the Internet page of the coordinate company. If you want to wire cash you will still have to search for the service point. The Internet money transfer can be carried out only in the case you use your current account or credit card.

Fill in the blanks distinctively

To prevent some problems or misunderstandings you will have to make sure you can write the name of the receiver accurately. If you submit the wrong name of some person or organization you want to send your money to the addressee won't be able to receive it.

Remember the password

After your money will be sent to the receiving side (either a private person or a legal body) you will be given a special number. That number performs the role of the password. You will have to report it to the addressee. The addressee will have to come to the similar service point in his city, prove his personality with a passport, driving license or any other required document,fill in all the necessary forms and report the password. Only in that case he will be able to get the money you have wired. If you aim to transfer your money to some legal body the representative of this organization will have to contact you to get all the necessary data. In the case if the name of the addressee is written with a mistake ( a missing or wrong letter, erroneous capital letter, some mistakes in the numbers) he will face a lot of difficulties trying to get the money. You may also experience some trying to get your money back.

Use the service of the reliable providers

Nevertheless this method may turn out to be quite comfortable if you need to send some sum of money to another country. Such companies as American Express, Western Union and the similar ones are often the international organizations which have a lot of service points abroad.

Set up a bank account

If you want to wire money quite often and don't feel like paying a lot for that service it may be sensible to set and account in a reliable bank, order a credit card and specify the name of the addressee as the second card holder. Of course to carry out that procedure you will have a perfect credit story.

Wiring money abroad

If you want to wire your money abroad you will face the necessity to search for the best terms for the both countries. Imagine you want to send your money to your relative who lives in France. In that way you will have to choose the international bank, get this credit card and tell the pin code or password to your relative. It would be better to combine various ways to send the data. Use the FedEx system to send the credit card to France and tell the pin code via cell phone. In that way you will be responsible to carry all the expenses connected with holding the credit card but your relative will be able to make all the necessary transactions (pay for the necessary services, make purchases and cash the money).

Don'ts

  • Avoid making a mistake when you fill in the name of the addressee.
  • Don't skip any remarks and additional smaller text when you will sign a contract with the bank.
  • Make sure you fill in the fields in a comprehensible handwriting.

Video

Conclusion

If you choose the second variant you should trust the second holder absolutely. In general money wire is the most popular transaction carried out by banks. That is a reliable way to transfer money without any great losses.

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