When you want to send money internationally, there are quite a few methods available, including:
- Traditional banks
- Wire transfer services
- Remittance services
- Online money transfer companies
You can send money to friends, family or business partners overseas by going online, to a bank or service branch or over the phone.
Although these methods might seem like equivalent options, they can vary in terms of cost, speed and convenience. Taking time out of your day to go to a bank branch such as Chase, for example, can be much more time-consuming than wiring money through an online service such as TransferWise, and the money might not get there as quickly.