Almost all individuals at least once in their lives come across the necessity to remit or get money. Previously all of us knew the respond to this simple question “how to carry out money transfer?”. It used to be - visit the post office. Telegraph or postal order used to be 2 alternatives accessible to citizens sending cash. The fee for using one of those methods of sending finances used to be very competitive so persons would not have to think about the value of the service. Times have changed, considerably affecting the cost of transfers, their location and prices. Apart from mail facilities there appeared large local banks and agents operating for worldwide transmission systems which started to supply transmission of currency online. So these days you possess a great number of options accessible for transferring money if you do not want to establish banking accounts. It is necessary to choose the most suitable transfer for every specific event.

WESTERN UNION

Western Union Financial Services, Inc. was founded in the USA in 1851. It's involved in money transfers since 1871. In 1995, WU joined First Data Corporation. Universal cash transmission system invented by WU works in 196 countries and comprises not less than 118 thousand entries of customer facilities. They are mostly banks, though any juridical body possessing a certificate to deal with currency operations may become the representative of the organization.

WU utilizes safety system of world standard to guard their transfers. To get cash the receiver has to know the check number including 10 symbols and the password including not more than 4 words.

You will get funds in the currency that is specified in the contract of the representative with the organization. Outside our country money can be remitted only in U.S. dollars. As soon as you transfer finance it's automatically converted according to the rate of the agency. The organization establishes the course every day. Mind that the rate can be not always profitable to the client so learn it in advance.

MONEYGRAM

MoneyGram Payment System was founded in 1988 as a subsidiary of American Express. At present, the MoneyGram transfer system is a participant of the Travelers Express Company Inc., functions in 140 countries and includes more than 51 thousand entries of services. It manages about 20% of the global market of fast cash remittances. The principal of functioning of these two organizations is very similar.

The cash is paid to a person if he/she has a passport and is aware of the control number of the remittance. Making each transfer you can also add to it a brief message, not more than 10 words, to the recipient.

To carry out safe and prompt money remittances one may rely on Western Union or MoneyGram because they are conventional systems of worldwide transmissions. You'll find them especially profitable if you need to transfer $400 and above. In this event, a commission payment amounts on average 5-10% of the amount of the transmission.