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Sending Money Abroad Electronically

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Electronic Ways of Sending Money Abroad

There are multiple ways to send money abroad and the Internet has made it possible to send money to bank accounts electronically and instantly. If you live in the UK and need to make a payment for products or services purchased abroad, you can easily send money from UK through bank wire transfers.

If you and the intended recipient have accounts in the same bank, you can send money overseas by simply transferring the amount from one bank to another. This can be done through a net banking session.

You can also send money to bank account through services like Pay Pal. This is the most popular way to pay for products purchased on E commerce sites. You simply need an email account for this service. As an online financial transaction broker, Pay Pal lets individuals and organisations send money to each other’s email IDs.

Bank account or credit account information for each other is not viewed by any of the parties. Buyers and sellers entrust Pay Pal with their bank or credit card information and the service keeps this information hidden. In a way, buyers send money anonymously to sellers.

An international money order is a conventional way to send money overseas. But now even money orders can be sent electronically or online. A money order can be sent through a postal office or bank.

Some individuals and organisations send money overseas through private services like Western Union Money Transfer or Money Gram. There is a considerable charge for the service and so it is certainly not the cheapest way to send money abroad but the convenience of quick money transfer makes it popular among many.

Businesses and expatriates send money from UK through such services.

Wish to check updated foreign exchange rate before you send money overseas? Visit:

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