How Do I Choose the Best Money Transfer Service?

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  • Written By: Geri Terzo
  • Edited By: PJP Schroeder
  • Last Modified Date: 30 August 2019
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The ability to transfer money can be extremely convenient in a financial emergency or under other less precarious circumstances. Sometimes, it is not possible for an individual to have a traditional bank account where debt obligations can be paid by issuing a check, in which case transferring money is essential. The best money transfer service should be reputable and fast despite fees charged to perform the transaction. Electronic transfers may be a less expensive option.

Just because a money transfer service may be inexpensive compared with other providers does not make it the best choice. Transfers can be made in person at brick-and-mortar retail locations or electronically over the Internet. In either case, the best money transfer service will provide some protection to the consumer for the sensitive information that is being exchanged.

Finding a reputable money transfer service once can determine where you might turn to in the future for additional services. The best providers should offer you options so that you can decide whether to make the transfer in person or complete the transaction electronically. If your choice is the former, find a provider that is convenient to access with locations near you. Sometimes, these services are provided at small retail locations that might otherwise be overlooked. Getting in touch with someone in the customer service department at a money transfer provider by calling or searching online to locate the nearest one may help.


If you are making the transfer electronically, privacy should be of utmost concern. The best money transfer service should require that users take precautionary steps before sending or receiving any money. For example, you may need to register online and provide personal details about yourself to prove who you are. These measures may need to be taken the first time you register, but subsequent money transfers may occur more quickly. The provider should go to certain measures to assure you the company is taking precautions to prevent fraud from occurring online, such as disclosing the online security provider that the company uses to protect and encrypt sensitive data.

Money transfers may be completed for less of a fee when performed online. Selecting an online money transfer service may be the best option if you are looking for the greatest savings. Electronic transfers are also able to deliver cash with more speed than might be possible using manual services. In the event that you are wiring money internationally, make sure the provider has performed numerous transfers to this destination. This information might be provided in the marketing material about a provider, or you may need to call the company and ask a customer service representative.


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