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Money Transfer Services
Online
Some of the more popular
destinations for transferring money are Mexico, India,
Philippines, and the Latin American & Caribbean areas. Many
online money transfer services serve a niche market, usually
because they have a strong presence in one of the countries. One
of the newer money transfer companies that services all of these
regions is Xoom.
Xoom money transfer services
offers worldwide destinations including: Mexico, India, Latin
American region, Caribbean region, and the Philippines.
Money transfer companies like
Western Union and Money Gram are the largest and most used since
they've been around the longest. They have the most physical
locations worldwide. These money transfer services are highly
visible in retail outlets along with offering an online option.
For these reasons, they are good for people who want a quick,
local, and known service on occasion. They are the most
expensive option when it comes to transferring money.
The newer money transfer
companies offer lower fees and flexibility. Xoom, for example,
offers the option of sending money by credit card, Paypal, or
bank account. The recipient can receive their money by home
delivery, bank account, or at one of their partner locations.
People transferring money
regularly is the reason you are seeing more of these companies
popping up. There are a lot of people working in foreign lands
that regularly send money home. The United States, for instance,
has a huge immigrant population that regularly transfers money
abroad.
The US is not unique though in
that this worldwide work force is growing by the day. This has
led to the niche money transfer services. These are the
companies that specialize in transferring money with an emphasis
on particular countries. Some are listed in the
moneytransfer
section in the top left of this page.
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