A variety of ways exist for you to collect money when you perform duties for clients overseas. But sometimes it is difficult to determine which of these services is the best for you to use. The following companies have proven to be safe and effective at serving your money transfer needs.
PayPal
PayPal is used by millions of people across the globe to perform business, shopping, and bill paying duties online. PayPal is free, easy to use, and you will only need a phone number and email address to register a new account. If you choose this method to receive money from overseas clients you will need to link a bank account to your PayPal account. Once the client transfers funds to your Paypal account, you will be able to transfer the funds to your bank account.
PayPal is a highly recognizable platform and it is likely your clients will either already have a PayPal account or be familiar with the service. On the downside, PayPal charges fees for receiving money and it can sometimes take a few days to receive your payment.
MoneyGram
MoneyGram is available to users in more than 200 countries and operates 24/7. The account setup is a simple process and verification can take place immediately. Your client will have the option of sending the money owed to you online or completing the transaction at one of the 38,000 physical locations maintained by the company.
MoneyGram transfers are instant and you can earn fee discounts for using the service frequently. The fees associated with MoneyGram are a little higher than some other services but are not outrageous.
Western Union
Western Union is one of the oldest and most trusted money transfer companies and operates in most countries on the planet. The service can be used for a variety of reasons including sending money internationally and receiving payments from clients abroad. Western Union has been applauded by customers who have used the service to send money to Pakistan.
Western Union offers a fast and secure service that has stood the test of time. One complaint with the company website is that English and Spanish are the only languages used.
Transferwise
Transferwise offers a Borderless account service that allows users to send and receive money in 28 currencies. A Borderless account from Transferwise works similarly to a bank account and allows users to pay for items and withdraw funds using a debit card.
The fees associated with a Borderless account are extremely low and there are no additional fees. The only disadvantage of Borderless accounts, when compared to bank accounts, is that no interest is paid on the money in your account.
Payoneer
Payoneer is a great solution for individuals that need to receive or send money internationally. The company is based in New York and facilitates payoff services for users in more than 200 countries. The service will also allow users to transfer money in more than 100 currencies.
Payoneer does not charge users for transferring money when both parties have accounts with the service. In addition to this, there are no fees transfers of $1,000 or less. There is a $3 transfer for ATM withdrawals.
Sendvalu
Sendvalu is a money transfer service that is great for sending money internationally. Users of the money can send money to Pakistan and other parts of South Asia, as well as , the United States, Europe, Africa, and Latin America. Fund transfers can be directed to a bank, made available for cash pick-up, and in some cases, can be sent directly to the home of the recipient.
All transfers are made in Euros or USD and are completed in 48 hours. The fees charged by Sendvalu are minimal but the exchange rate for transactions through the service are not the best.
Final thoughts
There are many ways for individuals who perform services for clients in other countries to collect the money they have earned. But with so many offerings, it is difficult sometimes to figure out which of these services is best for your particular situation. The six services profiled above are a great place to start for individuals in need of international money transfer services.
