Living overseas
can make managing your finances difficult at times, especially when you have
significant ongoing expenses in your home country. Fortunately there are
various ways to send money internationally. Here are a few I have used (and a chance to win a hamper of sweets!)
With the increasingly global movement of people these days the ability to transfer money internationally is more important than ever before. Whether it is to keep on top of mortgage payments or simply to send Christmas or birthday gifts, as soon as you become an expat, and even in the planning stages ahead of a move abroad, the need to be able to control your finances on an international level becomes essential.
Here are a few
options I have used to keep my finances in order in various countries.
International Bank transfers
Just a few years
ago I remember it being only certain account types that were able to send money
internationally but now most basic bank account holders seem able to. There is
usually a fee of around GBP £20 or AUD $22 to pay and the bank will also use
their own exchange rate. Transfer times vary and can take up to two weeks.
Western Union
International
money transfers made using Western Union are much faster than with
banks, Western Union takes one to three days to transfer money between bank
accounts, depending on the destination, and can transfer money faster if it
will be collected at an agent. If your money needs to be somewhere else fast
then Western Union knocks the socks off bank transfers. Western Union is
currently offering international direct to bank account transfers fee
free and at a better
exchange rate than banks. To make a $0 fee transfer click here.
Visitor Exchange
Another method I
have occasionally used to transfer money to my bank account back home is to pay
for things for friends and relatives while they visit me overseas and ask them
to deposit the equivalent amount in our home currency in my bank account when
they get home. Clearly the availability and suitability of this will vary. If
you struggle to trust internet banking then it might appeal, but if you have
forgetful friends it may leave you out of pocket, so beware!
The Give Away
This post was
sponsored by Western Union which with over 510,000 locations in over 200
countries and territories worldwide is the global leader in money transfer.
To celebrate
their fee free direct to bank account service, Western Union is offering
one lucky reader the chance to win a hamper stuffed full of traditional British
sweets. Yum! Nothing quite like a sweet taste of home is there?
To enter please
leave a comment on this post about the things you miss most from home (or would
miss if you are not an expat yet!) I will draw a name from a hat on New Year’s
Day and publish it on The World is Waiting’s Facebook page as well as with an
update to this post. The prize can only be delivered to an Australian address.
The give away closes on 31st December 2012.
Thanks to everyone who entered and congrats to Stephanie who has won the give away! I will email you for your address.
TweetThanks to everyone who entered and congrats to Stephanie who has won the give away! I will email you for your address.
