If your work involves traveling, one of the biggest hassles that you will face is the difficulty of transferring your funds back to your home country. Using wire transfers can be expensive, especially if you have to regularly transfer money back to your home country. Using PayPal or Western Union, on the other hand, is an option that is not always available in all countries that you visit. Here is the fast and inexpensive way to transfer money home.
- Account information. Start by making sure that you have your bank account information at the ready. You should have the name of the bank in the foreign country where you are residing and the account information of the bank in your home country. Or, if you send your money to your family back home, make sure that you have the account information of the family member to whom you send the money. Make sure that you double check all of the information, since a single wrong number in your account number is all it takes to invalidate the transaction.
- Signup. Next, you will need to sign up at Money Bookers. This is a money transfer service that is found online. Simply go to their website and then click on the large button labeled as Signup. There will be instructions on each step of the way, so that you should be able to easily create an account. Creating an account at Money Bookers is also free of charge, which makes it convenient if you are trying to save up money. Now that you have finishing signing up, you will need to finish registration. There will be instructions on how to register displayed on the screen, after you have finished creating your account. By registering, you should be able to add your bank accounts to the site.
- Add money. Once you have finished registration, you should be able to add money to your online account by adding the funds from the bank account that contains your funds. Once you have done this, you can transfer the account to another bank account, normally the bank account back home. This should allow you to transfer your money from one bank to the other.
- PayPal. If you are working in a foreign country where PayPal is allowed, you should also consider using PayPal. All you need is to sign up, add the bank accounts, and then transfer funds between one bank account to the other. Do this by adding funds from one bank account and withdrawing it to another bank account. This, in essence, allows you to transfer your funds from one bank to the other. Keep in mind, however, that not all countries are compatible with PayPal. Visit the PayPal website first, so that you will be able to check whether the country you are currently residing in has access to PayPal.
With these steps in mind, you should be able to easily transfer money home. Best of all, these options allow you to transfer money quickly, and without having to pay anything.