COURIER SERVICES (SENDING MONEY TO USA)

US Mail or Courier Service

When using this service, please send only cashiers check or a money order. Do not send personal checks or cash. As usual, include the $30 fee or it will be deducted from the amount you specify.

• The cashiers check or money order will be payable to Department of State.
  
• Mailing address is: Overseas Citizens Services, Department of State, SA-29, 4th Floor, 2201 C St. NW, Washington, D.C. 20520.
  
• Mention recipients full name and overseas address, your name, address, and telephone number.
  
• Even overnight delivery takes around 3-4 days while regular delivery may take 3-4 weeks.

This method is not recommended for emergency use.

OTHER METHODS LIKE IKOBO, PAYPAL, XOOM-3

OTHER METHODS OF SENDING MONEY OVERSEAS LIKE IKOBO, PAYPAL, XOOM-3

ikobo, paypal and xoom-3 reliable sources of transferring money overseas.
ikobo
Ikobo is one of the global leaders when you want to transfer money overseas directly to another recipient. iKobo is safe and easy and since 2001 it has provided many people the option to transfer money to anyone, anywhere, and anytime.

"Anywhere" includes more than 145 countries but the chances are that if they have Internet access there then they also have iKobo. Users in these countries can transfer money directly to one another at any time. The recipients, when they receive money for the first time through iKobo, are sent a precharged Visa Debit Card protected by a PIN. Subsequently, all further receipts are directly transferred to that Debit Card. Using this card, the iKobo user and card owner can withdraw money from any Visa supporting ATM in those 145 countries or spend it at any outlet that accepts Visa Debit Cards.

The iKobo website allows its members to send money quickly and it also provides a detailed account summary of past activity. All cardholders can check their account status and activity online.

PayPal
PayPal was started in 1998 and was acquired by eBay Inc. in October 2002. Any person or business identified with an email address can use PayPal to send and receive money online. PayPal relies on existing infrastructure of credit cards and bank accounts. It also uses the one of the most advanced fraud prevention systems in order to keep their transactions safe, global, and real-time.

The 100 million users of PayPal are a living testament to the popularity of this transaction platform. PayPal is currently available in 103 countries and regions and it is used by eBay users (buyers and sellers), online businesses, retailers, and individuals. To date, PayPal has been awarded 20 awards for its technological excellence. The Internet and business communities granted these awards.

Xoom
The Xoom Corporation functions as an online-to-offline international service for overseas money transfer. At present this service is available on the following countries but the list is growing rapidly. The 21 active countries are Argentina, Bangladesh, Bolivia, Brazil, Chile, Dominican Republic, Ecuador, Guatemala, Hong Kong, India, Jamaica, Mexico, Morocco, Nepal, Paraguay, Peru, Philippines, Sri Lanka, Uruguay, and Vietnam. Recipients are not required to have a bank account or even any Internet connectivity in order to receive funds. Xoom provides this service through strategic partnerships with money transfer organizations. The result is a convenient, secure, easy, and economical means of overseas money transfer available to everyone.

Send money overseas - use Western Union
With the current trend of people going overseas either for education or just to get some impressive detail into their resume, it is not surprising that more and more people feel the need to transfer money overseas. Business process outsourcing has also created many expatriates that constantly have to transfer money overseas and back home. If you have ever felt such a need then chances are good that you use Western Union Money Transfer for your overseas money transfer. While Western Union has recently increased it advertising and gained popularity in recent times, in fact it has been providing its unique services since 1851, a time when no one could have imagined something like the Internet and PayPal. Since those old times, Western Union has evolved into a global corporation that facilitates overseas money transfer without you having to leave your seat. There is a lot of trust involved when anyone wishes to transfer money overseas. This is not the type of business where anyone can start today and take the market by storm, as the saying goes. People will not hand their money to anyone they do not trust. Western Union has had more than a century and a half during which they have built a strong reputation of being trustworthy and reliable when people wish to transfer money overseas. This is well witnessed through the fact that Western Union has more than 270,000 worldwide centers spread across 200 countries. These numbers make Western Union the biggest money-transfer service in the world. Now, Western Union also uses the Internet to facilitate fast overseas money transfers using Visa and Mastercard through any computer connected to the Internet. In principle, the Western Union money order is quite similar to a wire transfer except that you can send money to a Western Union location anywhere in the world. You do not even need a bank account to do this. Just walk into a Western Union center with the necessary cash. The recipient has to have credentials to establish their identity and they can receive the payment without showing any bank account. The minor drawback with Western Union is that they charge a fee for every transaction. Their website offers an easy and quick way of calculating how much fee you will have to pay. The fee mostly depends on the total amount of the transfer and the two locations involved. The calculation is a bit confusing because the separating distance is not the important part. Just make sure that you do not end up paying 10% fee on a $500 transfer because that is ridiculous, use a bank transfer or mail a cashier's check instead.

INTERNET METHODS OF SENDING MONEY OVERSEAS

WAYS TO TRANSFER MONEY OVERSEAS OVER INTERNET TO USA, UK, INDIA, PAKISTAN OR ANYWHERE ELSE
While the Internet has bridged many gaps in worldwide communication, the resulting conveniences have also created a lot of confusion. Now there are so many ways to transfer money overseas that even veteran globe-trotters often find themselves at a loss when all they want to do is something as simple as send some money back home.

Here are some options that you may use if needed.

Cashier's Checks

A cashier's check, in countries where it is accepted, is often the safest way to transfer money using ordinary mail. Never use personal checks when you can use cashier's. The same applies when receiving checks. If you get a personal check there is no way to know if that account has any money in it. The bank issues cashier's checks upon receipt of the cash specified, so you know they are good. The problem with overseas checks is that they are likely to be in another currency and you will again have to contend with fluctuating market rates.

Bank Drafts
A bank draft in a foreign currency is not much different from a cashier's check. The difference is that not only can you pay cash for this but you can also tell the bank to take the account directly out of your bank account. Obviously you must have an account in the bank that you are asking to make the draft. You will inform the bank about the recipient's name and full address. Since drafts go via mail or courier, the delivery time depends on the mailing service you choose as well as the location where they are mailed.


Things are simpler when receiving bank drafts. They are just like checks that may be deposited into your bank account or you can cash the draft if you prefer. You do not even need a bank account to cash the draft as long as you have adequate identification to prove that the draft is indeed addressed to you.

Wire Transfers
For the best in safety and speed, you can find no option better than wire transfer. You can wire the money to any bank branch by either using cash or by drafting your account. Wire transfers require the recipient to hold an account in the country where they are going to receive the money. Wire transfers need the recipient's name, account number, bank, and branch location. There are some countries, and some circumstances, under which it is possible to make a wire transfer to a recipient without a bank account. However, due to complexities in regulations it is recommended that if there is no bank account then use a bank draft or cashier's check, or use an intermediate service provider like Western Union.

Depending on which countries are involved, wire transfers can take 2-3 days. In some developing countries the bank might choose to hold the money for some weeks so ask before starting a wire transfer.

Credit Card
If you have an internationally accepted credit card then you can get an add-on card for your friend or relative overseas. They can use their card for cash advances and you can pay for them. Note that most cards have limits on the amount of cash you can withdraw.

OVERSEAS MONEY TRANSFER BY BANK WIRE TRANSFERS

SEND MONEY TO INDIA, BANGLADESH, PAKISTAN, WORLDWIDE BY WIRE TRANSFERS

Usually the way you will choose to transfer money overseas varies relative to the amount of money you wish to send and the way in which you need to send it ie its intended usage once its received.
Most commonly spoken of are methods of transfer like western union that involve a sum of money being sent by you, either your bank account or in cash for a recipient to pick up in cash with the help of identification, without the involvement of a bank account at the recipient institution.
The other option different to this is the option of a wire transfer. A wire transfer is the moving of money from one bank account to another directly and in a secure transfer.
The main advantages of a wire transfer are that firstly it is safer. No money is ever seen in cash (goes directly from the senders to the recipients bank) until withdrawn by the recipient from his own personal bank account and so there is less chance of an unforseen occurence spoiling the smoothness of the transfer. The level of security on international wire transfers is high. The money is sent with the requirement of only a routing number and bank account number and the details are sent over heavily encrypted banking networks to minimize the possiblity of theft or bank fraud. Wire transfers are insured and guaranteed.
The downside however to the western union transfer can be the turnaround time. Where with western union or moneygram transfers, money can be available for a recipient to pick up the same day, a wire transfer will usually take around 3-4 days.
Also the security and reliability of a wire transfer comes with the addition of a larger fee. Wire transfers usually set you back around $25 however depending on the amount of money being transferred can still prove to be more cost effective than a cash or money order transfer.

A wire transfer can be organised through your local bank at a branch or else over the internet for those banks that have it available. You will only need to look at whether or not the receiving institution has the facilities to accept wire transfers. Most major international banks do, but it always pays to check.
In summing up it is evident that under certain circumstances that vary based on the amount of money you are sending, for what purpose and the amount of time you require it to be received in, a wire transfer may be the way to go.
Wire transfers are the most reliable, most effective and convenient way to transfer your money to where you want it to go. If the circumstances fit and wire transfer is possible it is certainly recommended for avoiding hassles and cutting down on fees for large transfers.

SEND MONEY ORDER TO INDIA, PAKISTAN, BANGLADESH, WORLDWIDE!

SEND MONEY BY MONEY ORDER

If you’re looking for a reliable method to transfer money overseas and having some problems, don’t worry your not alone. There are so many different options and so many different companies that it can be difficult to even know where to start.
One of the less spoken of methods of transferring money overseas is that of transferring by money order. This method usually takes a backseat to the more flashy and expensive, internet and phone transfer services such as western union but for some people it remains a reliable and effective method of getting money to your loved one.
Basically a money order is an international statement issued by the united states postal service. Most people don’t even know that international money orders exist but they certainly do.
Generally international money orders are preferrable to people sending smaller quantities of money. A single money order can take a maximum of $700 per order and for one off transfers of money overseas can be all that’s needed. If necessary multiple money orders can be arranged up to a maximum value of $10 000 per day.

In terms of fee structure, the money orders can be alot simpler than some of the electronic processes. To send an international money order costs around $3 to $9 per order depending on the delivery location.
In terms of the receival of the money, the money orders that you send can be cashed in banks and post offices in most countries around the world. Again this becomes a factor when the question needs to be asked whether the receiving party has easy access to a bank or post office which in many cases is not so.
Furthermore if you personally are unable to access a postal service for you to create a money order, most banks in the united states will do the same thing for a nominal fee. With banks the charge is generally $10 per money order and they allow for orders up to $1000 at a time. Handy to know if your desired order amount is between $700 and $1000.
Although arguably not as reliable as the systems put in place by companies like western union, money order transfers can also be tracked to increase flexibility and control of the process for the sender. A number is given after the recipients details have been filled in and this number can be used to check on the status of the delivery also at post offices or by phone.
Full details on money order transferring is available at the united states postal service website or likely at your banks website if you are leaning toward that method. Don’t forget also to look into the option of sending checks by US mail as it varies again.
The purpose of this information is to allow you to make the best choice in your overseas money transferring mission. There are alot of variables but with good research an appropriate method can be found to transfer your money overseas while fitting your personal requirements.

OVERSEAS MONEY TRANSFER BY MONEYGRAM

TRANSFER MONEY BY MONEYGRAM

With the many different methods available to transfer money overseas, it can be difficult to know which are the best for your individual needs. Should you use, cash transfer, bank transfer, money order or something else? After you have worked out the exact details of your money transfer the option many people are turning to nowadays is the electronic transfer of money, doing so by the internet.
While the popularity of international money transfer via the internet has grown, so has a company now synonymous with money transfer itself, moneygram. Generally being overshadowed by its counterpart and competitor Western Union, Moneygram offers a trustworthy service with some hard to beat features in terms of convenience and efficiency in the money transfer game.
Basically all transfers with moneygram are performed online so if you are unable to access the web for some reason for this purpose, the moneygram method is not for you.
Moneygram offers the transfer of money overseas to 170 countries worldwide and enlists the help of over 170 000 transfer agents.

Highlights of the moneygram service are a cost calculator on the website that lets you instantly learn the fees and charges associated with the transfer of money overseas to whichever country you chose. This allows for easier budgetting and more time saving conversions and organisation.
Furthermore moneygram includes a feature to minimize the main risk of transferring money overseas, namely, losing the damn money! Inevitably money orders get lost or stolen in the mail, and even every now and then an electronic transfer can have a mishap. With the money order mishaps program western union minimizes the financial impact of such occurences on transferring parties. This is definitely a handy service to have especially when transfers are being made more frequently.
In terms of pricing, things with moneygram are fairly standard and generally cheaper than its competitor western union. You will find that being the second in the race, monegram has more of a need to compete on price to keep its market share from the bigger first place taker. We have noticed that it will generally cost you more for sending money to Mexico but a little bit less for sending to the united kingdom. As always pay careful attention to the fee structure of any money transferring program before taking responsibilities.
Turnaround times also are basically similar to that expected for average cash transfer systems as they can have money from your bank to the recipients bank within the same day depending on the receiving bank.
Personally if I were transferring money overseas I would opt for Moneygram rather than western union simply because I am more comfortable dealing with money transfers online and can see that this company specialises in just that. As for your decision, use the information provided here and elsewhere to make an informed decision based on your own money transfer overseas needs.

OVERSEAS MONEY TRANSFER - WESTERN UNION MONEY TRANSFER

WESTERN UNION MONEY TRANSFER

As you will probably know there are many ways to transfer money overseas. One of the most common ways is by what is known as Western Union. Choosing to transfer money by Western Union means a certain cost structure, time frame and conditions that need to be adhered to. Those that are considering such a transfer of money overseas should know the subtleties of this process and hopefully this article will help.
One of the big selling points of Western Union is the ability to transfer money to basically any country world wide with the convenience of being able to do so by phone or internet 24 hours a day, 7 days a week.
The option also exists to transfer money by means other than phone or internet although this comes with more complications and as such if possible should be avoided. Basically if you choose to transfer money overseas with an alternate method you will need to locate your own transfer agents in the receiving country which even with the help of the internet can be a difficult task. Despite this the western union website does help with this, providing a list of transfer agents in 190 countries world wide.
Also the major benefit of transferring money overseas with western union is that the receiving party can with proper identification, pick up the transferred funds within an hour depending on the operating hours of the receiving transfer location. This means an hour after you place the order it can be in your friends hands. The magic of technology!
Because of the fast and convenient nature of western union transfers an according fee structure applies. A full copy of the cost structure can be viewed at their website online but basically fees range from a few dollars to a hundred dollars depending on many variables. For this reason it is necessary to peruse the condition documents thoroughly to ensure that this method is the best for your needs.
If you are transferring money overseas, the internet option is usually the most convenient. After frequent updates to their system, the western union website now offers people the ability to keep track of their own transfers with their own individual user account. This way you can know the exact status of your money and how effectively it has gotten to its destination. Not only that but if you require other transfer money services like the payment of bills, the website has the ability to integrate them all for added convenience. We won’t even mention how badly this beats the old drive down to the bank branch and fill out forms method used to be but suffice it to say that transferring money to anywhere has never been easier.
Put simply if you want the most no hassles, trusted and reputable method of transferring money as quickly as possible to almost any country in the world, western union is almost certainly your best bet. As always, make sure you know what you’re doing before you attempt an important money transfer but rest assured that western union will make your transfer money overseas that little bit easier.

PATRIOT ACT AND INTERNATIONAL BUSINESS

PATRIOT ACT AND INTERNATIONAL BUSINESS

The Uniting and Strengthening America By Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 also known as USA PATRIOT Act or the Patriot Act (Public Law 107-56) is a law coming out of the U.S. which was signed into law by the President Bush on October 26, 2001 right after September 11 attacks. The Patriot act was passed with an overwhelming majority it is still a very controversial federal legislation.

The Patriot Act was passed in a bid to respond to the carnage the U.S. had seen on September 11. This law has enormously expanded the authority of law enforcement agencies of the U.S. to help it fight terrorism in the U.S. and outside the country also. This law is also used to find out and prosecute other potential crimes like giving out wrong information on terrorism.

Federal courts felt that some of the sections of the Patriot Law contravened civil liberties and that is why they declared those sections unconstitutional. As such the law was renewed on March 2, 2006 in the Senate and March 7 in the House. President Bush signed it on March 9, 2006.

This Act has so many features that are worth studying but one should surely have a look at anti-money laundering provisions in the Act. There are so many provisions which have been incorporated for the first time. So, now all the U.S. financial institutions including banks, securities firms, insurance agencies and businesses transferring funds have to be over diligent before letting a non U.S. financial institution to open a correspondent account with them and allowing entry to them into the American financial system.

Besides all the financial institutions in the U.S. are have to have anti-money laundering programs that must include proper verification of the identity of the customer. Also, no U.S. bank or securities firm can open accounts for non U.S. shell banks that don't have any physical presence anywhere and which don't have affiliations with other banks. But the most important part is the authority vested with the U.S. Secretary of the Treasury and the U.S. Attorney General. They can demand and obtain information from U.S. financial institutions that is related to correspondent accoutnts maintained for non U. S. banks and persons.

Patriot Act also amends the U.S. Federal Rules of Criminal Procedure. It now gives the authority to government prosecutors to share information that are confidential in nature that are produced to federal grand juries relating to non U. S. governments, businesses or persons with a any U. S. law enforcement agency for purposes of law enforcement and that too without advance notice to the courts or for that matter to anyone else. It also allows them to seize and forfeit assets held in U.S. accounts by non U. S. persons.

OVERSEAS MONEY TRANSFER BY BANKWIRE

Bankwire

It can take up to 7 days for Bankwire to process a transaction and this is the procedure.

• Inform your bank you wish to transfer the given amount plus the $30 fee to
  
• Bank of America, Depart of State Branch, 2201 C St. NW, Washington, D. C. 20520 at 202-624-4750 via ABA number 114000653, Account number 747636838, Account name PUPID State Department.
  
• Mention the recipient's full name, overseas address, your name, address, and contact number.
  
• Bank of America will then transfer these funds to OCS.

SEND MONEY OVERSEAS BY E - CHECKS

E-CHECKS
An e-Check is nothing but electronic transfer of funds. With e-Check the money is withdrawn from a bank account which is generally a checking account. The routing number and the account number are both necessary to transfer funds from the account. The benefit of an e-Check is that it gets cleared faster than general written checks.
e-Check unlike other normal checks which is in paper form are actually filled online. The customer has to fill in information like their bank account number and routing number online. So, simply stated, e-Check is just an electronic form of a normal paper check. And you can use e-Checks as you use paper checks in any financial transaction. But e-Check has the added benefit of faster clearing and a more efficient processing associated with electronic payments.

WORKING OF E-CHECKS
e-Checks are mostly used by those who don't prefer cash as a mode of payment. They are the ones who have actually popularized the concept of e-Check. Actually, e-Checks are also like normal paper checks but they are electronic and they make use of digital signatures to sign and endorse. You would also have to use digital certificates to prove the paper is authentic and you need to provide the routing number and account number. The one who writes a check (payer) writes an e-Check through a computer and uses his digital signature to authenticate and then sends it using internet.
When the payee receives it, he has to verify the signatures and endorse it. And yes, he also has to write a deposit slip and sign it. This endorsed check is then emailed to the payee’s bank for deposit. There also the digital signature is verified and after the verification, amount is debited from the payer’s account. Cryptographic certificates that are used with e-Checks let a check payee know if the signatures are valid or not. Certificates are transferred with the e-Checks but researches are being on for letting these transmissions redundant.

To understand one more legal point. e-Checks could also be applied to a block of a document rather than the complete document. So, what this does is that it separates a part of the document from the entire document. So, your digital signature remains only where it has to be and not on the entire document.
Let us have a look at some of the benefits of electronic checks.

• Since e-Check is similar to any other paper check, so customers don't have problems in switching over to e-Checks.
  
• e-Checks are generally better for micro payments. E-Checks use conventional cryptography that makes it easier to process as compared to other systems that make use of public-key cryptography.
  
• e-Checks are better alternative for corporate markets. It is far more cost effective that what they are using as of now.
  
• Floats could be created with e-Checks and that is very necessary for commerce. Any third party accounting server could actually earn a lot of revenue by taking some fee from the buyer or seller. It could also serve as a bank and offer deposit accounts and earn from that pool of deposit accounts.

OVERSEAS MONEY TRANSFER

Overseas Money Transfer - an overview

Employers tend to prefer resumes that reflect independence, dynamism, and an individual is not restricted to a small circle but has received wider exposure. This has caused an increasing number of people to spend some of their time working or traveling overseas. Managing your finances when you are overseas can be a bit daunting if you have never done it before. It is important to keep things in order if you are to enjoy your time abroad.Your trip abroad will be a long one, especially if you are planning to go for work, even in that case you must keep the local bank account open. This way you can always manage your money back home with ease. If you want, you could even send some of the money you earn overseas back to this account and create a nice bit of saving. Another advantage of keeping the account open is your credit history is saved from going dormant. This is a very important point if you are planning to come back and resettle because you will need the credit history for credit cards, mortgage, and so on.

Open an offshore account or an account in an international bank that has a good presence in your home country. If your local account in a bank that operates in the country where you are planning to go then everything is already set. Having an international or offshore account means your money is accessible no matter where you go. Throughout the world you can continue to use the ATMs or check your account status on the Internet. Since your account is in an international bank, you can transfer your money around very easily without having to change banks. Your financial activities are based around a single entity.

One of the unexpected expenses that occur when you are abroad is the ATM and credit card fee. To avoid paying extra charges, make sure that you open an account with a bank that has international recognition and plenty of ATMs worldwide. This way you can be sure that your credit card will be accepted no matter where you go. The bigger banks also form partnerships with local banks throughout the world to provide you greater ATM and credit coverage. When you are signing up for an account that will be used globally, check the details to make sure there are no hidden charges.

Once you are an expatriate there are many financial advantages that you can enjoy. Offshore banking will give higher interest rates, access to financial options that were previously unavailable, and savings on investments before any taxes are deducted. If your income is sufficiently higher than your expected cost of living abroad then you must make the effort to create a solid amount of savings and benefiting as much as you can through offshore banking. This will be of immeasurable help once you come back home. Note that even if you are earning offshore, if you maintain a balance in the local bank then you are still meant to pay taxes.

So it is advisable for expatriates to manage their finances in an appropriate manner. You should consult an accountant or a financial planner. Especially money transfer to India, pakistan, Bangladesh or Phillipines is done as there are millions of people from these countries who work in the West or Middle East Gulf Countries. So people from India, pakistan, Bangladesh or Phillipines have to plan how to transfer or send money overseas to their home. This site can come handy for them to learn about how to transfer money overseas to India, Pakistan, Bangladesh or Phillipines by Western Union Money Transfer, MoneyGram, Bank Wires, E - Checks, Cashier Checks, Credit Card, Postal or Courier Services, Other forms of Bank Transfers, Ikobo, Xoom-3, or other money transfer overseas methods. You can try out the various helpful links and find out the best method t0 transfer money.