Globalization has brought the world closer, and that includes the world of finance. Sending money abroad is no longer complicated or costly, and there are many cheap and easy ways to transfer funds internationally. Some of the common ways of sending money abroad include:
1. Bank Transfer – You can make an international transfer to a foreign bank account through your local bank account. It may take a few days for your family member to receive the funds and will incur a fee. UK banks generally charge around 3-4% of your transfer amount to send money abroad.
2. Digital Banking – Neobanks and online-only banks, including N26 and Revolut, offer their customers foreign exchange (FX) and international withdrawals.
3. International Wire Transfer Company – If you need to send money fast, an international wire transfer company is best. The recipient can collect the funds as cash on the same day. However, since you’re spending on speed, the fees will be high. Some popular companies are:
● Western Union – Covering most countries, Western Union offers cash in person and cash-pickup delivery options, quickly, for a fixed rate in addition to their exchange rate fees.
● MoneyGram – As one of the largest remittance services globally, MoneyGram allows users to send money directly via text message through their FastSend option.
4. Cryptocurrency Transfers – If you own cryptocurrency, you can transfer crypto to your receiver or convert it into fiat currency (such as USD or Euros) across international borders and banking systems.
5. OneFor – Easily send and request money transfers worldwide through the OneFor app, which also includes an eWallet connected to a ready-to-use debit card.
While all these options allow you to send money overseas, you face various challenges with each. Either, you need to be a customer of the respective bank, have access to their services (crypto) or deal with lengthy transfers and high fees. Out of all the options mentioned, we recommend OneFor, the most personal and connected money app that allows you to easily transfer funds to family members around the world.
Why OneFor?
OneFor is a Pan-European FinTech company with teams in the Netherlands, Germany, Switzerland, and a number of countries in Southeast Europe. At OneFor, we are dedicated to revolutionizing the world of money remittances and individual transactions across international borders. Our goal is to change how people communicate with each other through money by transforming financial transactions into moments of connection, shared experiences and by increasing financial inclusion that fosters economic development.
When you use OneFor, you benefit from:
● Convenience in one app – Simply send funds, make gift payments, or request money from one or multiple people - all in one app.
● Fast Transfers – 0.2 seconds is all it takes to transfer money home!
● Low Rates – With the OneFor app, everything is at your discretion. The basic app is free, and you can choose a smart package that suits your needs best.
● eWallet – Manage your card, add money to your account, and have an overview of all your transactions with just one touch.
● Security - Backed by Mastercard and owned by a Dutch private equity group, OneFor provides the highest level of security for your money.
● Connections – OneFor is known to be the most personal and connected money app that brings you closer to your family around the world. Simply import your contacts from your phone or add any type of payment recipient.
● 24/7 Support – Need help? The OneFor service team is available to you around the clock to answer any questions you may have or offer guidance.
All you need to send money to a family member overseas successfully is OneFor. Setting up an account on the platform is free, as are the following items:
● Monthly Account Fee
● Dormant Account Fee
● Account Closure Fee
● Virtual Card
● Incoming EU bank transfer
● Incoming international transfer
● In-country transactions (in-app)
● Special payment features (in-app)
● Customer service (in-app)
For the best value, choose one of the following packages:
1. EU bank transfers (50% cheaper) – €0.70/month, includes 5 EU-to-EU transactions per month and is best for people making 3 to 5 bank transfers per month within Europe
2. International (42% cheaper) – €4.70/month, includes 3 international transactions per month. Ideal for people making 2 or 3 international transfers per month to outside Europe
3. Unlimited free transfers – €14.70/month unlimited EU-to-EU & international transactions per month. This is our most popular package and best for people who want full cost convenience, without transfer restrictions
And there you have it, sending money to a family member abroad is fast, secure and convenient when using OneFor. So hurry up and sign up for a free account to surprise your relatives overseas with a money gift for the Holidays, made possible through OneFor.
