Sending Money Overseas Online

There are lots of companies in the market like Western Union, MoneyGram, Paypal, First Solution Money Transfer  and many other companies who are providing the services of sending money overseas online. Suppose, you are living USA and want to send money in India or want to send money from India to USA due to your international business deal. You only go to any of these service provider site and register yourself. After this, you can see send money online form in these sites. After filling this form and enter your credit card for deducting money from your bank account, you will see reference number or identification number of recipient. You have to send this number to recipient and on this basis your recipient can collect money through local agent of money transfer company.

# For sending money overseas, first thing which we see that is service fees. What is commission which is charged by money transfer company. Paypal have good reputation in market and it is cheapest way for transferring money from one country to another.

# Sending money online is convenient and fast, but also expensive. So, you have also option of Postal Money Order or through cheque. This is the most economical approach but It is also very slow and may take as long as a week to get the money to your destination.

# Some of the more popular destinations for transferring money are Mexico, India, Philippines, and the Latin areas. Many online money transfer services serve a niche market, usually because they have a strong presence in one of the countries.

# Recipient can track their money through online Money Transfer Tracking facility. For this, recipient has to fill Money Transfer Control Number, Sender First Name and Sender Last Name and click on check status.

# Fraud and Scams : Between 2004 and 2008, the FTC projected an estimated $84 million being stolen in both the US and Canada from their citizens where the stolen money was wired through MoneyGram. MoneyGram are required to enhance its anti-fraud measures and introduce an agent-monitoring program in an attempt to prevent this fraud.

# Before transferring money into  anyone of online service provider account for money transfer, you should check their refund options.


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Accounting Education: Sending Money Overseas Online
Sending Money Overseas Online
Accounting Education
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