| Friday, September 4th, 2015

family assistance money transfer

Send money to family abroad: A guide

Being in the position to be able to financially support your family can be a rewarding experience, however there are some things to consider before getting started. If you're in the position of needing to send money to family living abroad, you can use an international money transfer; this will help save you money and set up a regular payment process. 


You can expect to be able to make savvy savings compared to using your mainstream bank on both the exchange rate and possible fees. What's more, if this is a recurring payment, a money transfer provider can help automate this process and save you time as well.


Sending money to children that study abroad

Studying abroad can be a great opportunity, but requires planning to ensure there is enough funding. Many international students are unable to earn income and need support both for their living expenses and tuition. Setting up recurring payments for living expenses and paying for tuition directly can all be accommodated very easily by using a trusted money transfer provider.


Assistance for elderly family members

Pensions aren't always enough to live off of. As such, elderly family members often need extra financial support and the last thing you need is to have issues setting this up. In some cases, funds need to be sent extra fast for an emergency or an unexpected additional bill. Having the means to send money to family internationally can be a lifeline in situations like this!


Sending money for healthcare

Nobody wants to be in this position but it's an important topic to discuss. Healthcare payments can become very costly and often family members need to receive treatment in an overseas country as that is the best location for the care. In cases where the country is not home to either the family member or the sender, money transfer providers can help make the process of paying for the bills much easier, and ease some of the weight off your shoulders.


Remitting funds to family members back home

One of the most common reasons for sending money overseas, particularly at smaller levels, is remittance streams to family members in the sender’s home country. There are many methods to send these funds and large differences exist in the costs of sending these monies. We strongly suggest considering a variety of money transfer providers for these transactions compared to using a traditional bank, to save time and prevent bank charges.


Be sure to check out our list of recommended money transfer providers – it pays to be prepared!


FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.