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International money transfers can be done in any of a large number of different ways. It is possible to send them via your bank, using an international bank transfer. You can even send money by cheque but both of these methods can prove costly and take time. Cheques, especially, are expensive in terms of time because not only will it take days for the recipient to receive the cheque but weeks for that cheque to clear into local currency.

Banks also have a tendency to make numerous international transfer charges. You, as the sender will usually be charged while the recipient will also face a charge for converting the currency. The banks will also usually build a profit into their exchange rates and, to make things worse, it is possible that you won’t even see this exchange rate until everything is complete. However, it is easy to compare the costs of different services.

Get quotes and speak to your bank about how much cash the recipient will receive in their own currency and then compare this to other services. Don’t forget to include online international money transfers because these will often prove to be the least expensive and most beneficial way of sending money to bank accounts and recipients overseas.