Send money from the UK

Send money from UK worldwide - find the fastets, easiest and cheapest money transfer service for you. Reviews, opinions, pros and cons.

Tag: Wire transfer

December 7, 2011

The Fee-free bank transfers

send money from the UK without fee

One of the cheapest methods to send money from the UK abroad is Fee-Free bank wire transfer. This is one of the most convenient ways to send money if you have family members living overseas and you send them money regularly. It gives you the flexibility to send cash whenever you want fast and cheap. It’s suitable if you transfer money on regular basis to people staying in one country.

How this work?

A lot of banks allow you to transfer money abroad fee-free to linked banks. Usually it works when the bank have versions of the same company in other countries, after all most of the banks don’t work only in one country. If both you and the recepient open accounts in the same bank you can send money cheap between the two accounts, even if they are in different countries they are fee-free.

There are two diffirent ways of making this works. The first one, the most convinient way, is with the banks that allows you to send money to anyone having account in the same bank, no matter in which country, it’s still without a Fee

Unfortunately another group of banks require both the UK and the foreign account to be in your name.

Sending money from UK to anyone without a Fee.

Because it’s a Bank, the exchange rates are usually very good, there are no extra loads, and of course – you have no fees. This option is comparable to moving the cash directly in another country, there is no cheaper option existing. It feel more like moving money than international transfer. The money arrive within 5-10 minutes in the recipient’s account and you can send money from uk to almost whole world this way, depending of the bank.

CitiBank

CitiBank offer a fee-free money transfer service which works for 23 mainstream countries. You can send money from the UK to USA, Germany, Australia, Spain, China, etc. The best part – if you open Citibank Access Account you won’t pay monthly fees. There are best account option available bit’s worth to open one just for sending money from UK to another country. If you have another – better account in CitiBank you can easily move money from it to this one when you need to send them abroad.

After opening your Access Account the only thing left is to ask the recipient to open one CitiBank account in his/her country and you are ready to send money from the UK virtually free of charge. Note that not all countries have fees-free banking as in the United Kingdom.

Fee-free money transfer from UK to your account.

A number of UK banks have relationships with banks in foreign countries, giving you the option of fee-free money transfers at very good exchange rates. However both the sender and the recipient accounts must be in your name. This kind of Fee-free money transfers is convinient if you have home in both countries and want to pay bills easily. It can be used for sending money to friends and family, but it’s a little bit tricky to do it, you need to open the second account with online banking, to give the details to your family and if they make account in the same bank you can send them money with two transaction – one to your second account Fee-free, the other – to their account, which is in the same country and bank and usually is also without fees.

  • Barclays – Sending money from the UK with account in Barclays gives you the opportunity to transfer money without fee to Barclays in Spain, to Barclays India savings account or Barclays in France or Italy. However there are some limits of the money transfers – for Spain, France and Italy – over £500 for a regular payment or over £1,000 for a one-off payment; for India the minimum transfer is £250.
  • Lloyds TSB – With account in the UK Lloyds TSB you can send money without fee in Lloyds TSB Spain accounts and to an ICICI bank in India.
  • Halifax – With Halifax or Bank of Scotland account in the United Kingdom you can send money to Banco Halifax Hispania accounts

It’s true, this type of money transfers have it’s restrictions, but if it works for you is the best possible way to send money from the UK to a foreign country.

December 2, 2011

Sending Money Quickly: The Benefits and Drawbacks of Various Methods

Your brother is stuck in a small departed town in foreign country. His car was stolen along with his money and he needs your immediate help. You have to send him some cash as soon as possible, but how will you get the money to him?

Your daughter suddenly loses her job. She calls you up asking for some money for the monthly rent. What are you going to do to help her?

For the most of the people money transfer can be a tricky problem. The speed and the flexibility is of greater importance when you want to send money urgent, but the quicker and flexible it is, the more you’ll pay.

As it seems, there are numberless different ways to transfer money between people, who are separated by distance. In this article I’ve pointed out four of the most popular ones. Each opportunity has some pros and cons to it.

Western Union

send money from uk with WU

With Western Union the process is very simple – you just have the person you’re sending money to go to an agent location with a form or ID and you can send money from your computer or from another agent location. In a few minutes the recipient has cash in their hands.

Pros: It’s quick and requires only a form of ID from the recipient.

Cons: Compared to other methods it’s rather expensive and it does require that a Western Union office be available near the recipient.

When to use it: A person has rather limited resources and needs money instantly.

Electronic transfer

send money from the uk by wire

Basically electronic transfer means to transfer money from one account at a financial institution to another account, either the same institution or another. This is not one of the fastest ways to send money. It can be a preferred plan of money transfer if it doesn’t need the money to be there immediately.

Pros: In most cases costs nothing and can be done from your computer,all you need is just a routing number and an account number.

Cons: It takes a several days to make it happen.

When to use it: The recipient has a bank account and some time.

Money orders

send money from uk by money order

You can send money orders from any post office. Anyway, you should keep in mind, that this solution works best when you’re sending a small amount(up to £250 ). Furthermore, the recipient may need to use check-cashing services to cash it, which means 5% or so off the amount.

Pros: The recipient should be able to receive mail.

Cons: It costs between 50p and £12.50, depending on the amount of money and it takes a few days to arrive

When to use: A person has no bank account and limited resources

Checks

send money from uk by check

Basically checks and electronic transfers are, in the end, the same thing without the paper document.In these days checks are surpassed by electronic transfers for person-to-person money transfers.

Pros: It’s extremely convenient and virtually free.

Cons: It takes a few days to arrive, a person has to be able to receive mail and should have a bank account. If they don’t have a bank account they’ll have to use a check-cashing service which is additionally charged.

When to use it: Most uses that aren’t covered above, but in my opinion the electronic transfers work better.

December 1, 2011

Bank Wire Transfer

Send money from UK with Bank transfer

send money from the UK with bank transfer

 

When you want to send money usually your first choice is Bank transfer. It’s safe, reliable and immediate. The banks are one of the most used services when it comes to sending money. But are they the best method? It’s true – they are secure, trustworthy and reliable method of sending money, but when we talk that wire transfers are instantaneous…  well, it’s a myth.

Pros

Safety

Both the sender and the recipient in a bank wire transfer must be identified by the bank. It is hard, even impossible, to get money anonymously, so it is hard to pull of a scam. There is no option some unauthorized person to take the money you send, instead of the real recipient. The payments are certain – the money can be sent only if the sender has available funds for the transfer. Also it is hard for the sender to pull the money back after they are sent.

Reliability

The bank transfer system is reliable, there is no question about this. It must be reliable, most of the important and large transfers are made by bank wire transfer. It is the most reliable method for sending money.

Accessibility

There was a time when you must go to the bank to send money. Now you can do a wire transfer not only in person, but also  over the phone or on the Internet. To send money with bank transfer is as easy as every other electronic payment system.

Cons

Speed

Everybody think that bank wire transfers are fast. Well, they are not. Yes, it’s true, transferred funds are considered ‘cleared’ immediately when received, but in fact  it takes a while for the receiving bank to show the proceeds in the recipient’s account, usually 3 to 5 days. So if you send money with bank transfer recipient will receive them after a few days.

Working time

Many banks send out wires at certain times of the day, no matter when you ordered the transfer. If you miss the deadline when you send money, even with five minutes, it will delay receipt with a day before the transfer is proceeded.

Procedures

There are certain steps you need to take when you send money by bank, like knowing and writing the recipient bank details. It is possible You or the clerk in the bank to mess up the numbers and the money get lost. It is rare, but it happen once ona while. Also most banks require notice before they withdraw a larger sum of money, which is complicating and delaying the process for the recipient.

When to use Bank Transfer to send money?

If you want to send larger sum of money the bank wire transfer is the best option because of the reliability and safety. Also if the recipient have a lot of time and the money are not urgent then the bank is also good method. But have in mind – sending money from the UK abroad is usually costly, the UK banks takes a big slice of your money in fees, taxes and exchange rates. Check your’s bank fee before sending, every bank have different tax rates.

December 1, 2011

When you need to send money?

Send money to your family or friends Pay for product or service Make the best gift Get paid
send money from UK to family send money from UK to pay send money from UK as gift make someone to send money from UK
You have a friend abroad or want to help your family and want to send them money from UK? Find the fastest and easiest way! You want to buy something from a small shop which doesn’t have a website or they accept only cash? The best present these days is cash. Let someone treat themselves as they wish by sending money. You are waiting for someone to send you money from the UK? How to get them to pay you back?

Whatever the reason may be once in a while everybody need to send some money abroad. That’s when it got complicated. You must fight with high fees, bad exchange rates, complicated procedures, etc. That’s why you must have in mind the options for money transfer services.

December 1, 2011

As they call it – Hello world!

send money from the UKWe know how costly and complicated it can be to send funds between the UK and the rest of the world.

Millions of dollars are lost by consumers each year in foreign exchange transactions by paying excessive fees and receiving poor rates through uncompetitive banking institutions.  We will give you insights about the money transfer options so you will know what is your best choice if you want to send money from the UK.

In this blog we will write reviews, compare the different money transfer options in UK, how much they cost, pros and cons of every option.

Learn how to send money from UK easy, fast, secure and cheap!

 

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