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      July 20, 2018

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Money Transfers

  1. Ria
  2. Western Union
  3. Money Move It
  4. Money Gram

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Send Money With Xoom Today! It's a fact that emergencies sometimes arise when you least expect them. If you have a friend or relative. that needs some financial assistance, it's good to know the best way to transfer your money.

Many money transfer services allow customers to send funds online, and have that payment directed to another back account or a money pickup location across the globe. This easy money transfer provides a tremendous amount of convenience, and saves the hassle of searching for and driving to a money transfer location where you may not feel entirely safe.

Continue reading below reviews

Best Reviews

2018

Money Transfer Reviews

5 stars
Xoom

XOOM Visit Site

Cost:

Starts at $4.95

TopConsumerReviews.com Best-In-Class Blue Ribbon Award Founded in 2001, Xoom is a fairly young international money transfer service based in San Francisco. They offer money transfers to banks in over 30 different countries.

Through the Xoom website, you can set up an account and choose which bank in which country you wish to transfer money to. The money can be transferred directly into the recipient's account, or sent to a money pick-up location. You can pay for the transaction either through your own bank account, a credit card, or a debit card.

Xoom's website is easy to use. It provides helpful information as you go through the money transfer process. For example, when you select which country you want to send your money to, the Xoom website immediately lists which banks it can provide transfers to. Next, as you enter the amount of money you want to transfer, Xoom shows the amount in U.S. dollars and then provides the conversion rate amount in your destination country's currency. It also shows the fee amounts involved with the money transfer.

The actual fee amounts for sending money vary. Transfer fees start as little as $4.99 U.S. dollars, and increase from there. The fees change based on the amount being transferred and where it's being transferred to. For example, transferring money from the U.S. to Italy is much cheaper than transferring money from the U.S. to Nicaragua.

Once your transaction is complete, Xoom also provides some alert options. This enables you to receive a text or e-mail notification when the money transfer is complete. Xoom provides a money-back guarantee for its services.

In March 2013, Xoom launched POWR, or Pay Only When Received. Through this initiative, Xoom announced that it will not withdraw any money from the sender's bank accounts until the money is received by those they are sending it to. Currently, POWR is only being offered when sending money to the Phillipines. However, this is a breakthrough idea in the global online money transfer.

Xoom's money transfer tracking service, money-back guarantee, POWR initiative, and competitive money transfer rates make it one of the best options to consider when you need to transfer money fast and far. They earn our highest rating.

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4.5 stars
Ria

RIA Visit Site

Cost:

Starts at $3.00

With a history spanning almost 30 years, Ria is well established as a provider of money transfer services. Ria has more than 292,000 locations in 147+ countries and is the third largest money transfer company worldwide. Additional services include bill payment, prepaid debit cards, check cashing, money orders, and mobile top-ups.

Riaís website makes transferring money online very simple: decide how much money to send, where itís going, and method of payment (bank account, debit card, or credit card). The online price calculator will instantly provide the exchange rate for the destination country, as well as the exact transaction fees for the payment method chosen. The recipient can receive the funds via direct transfer to his or her bank account, through a courier delivery in select countries, or by visiting one of the nearly 300,000 Ria agent locations around the world.

Ria's fees are very reasonable. For example, to send $200 to Mexico using a bank account to fund the transaction, the fee is a low $3; the same transaction costs $4 if using a debit card, and $12 with a credit card. The general rule of thumb for transfers with Ria is that the faster the money needs to arrive, the higher the transaction fees. This transparency sets Ria apart from many other online money transfer companies that often make it very difficult to determine their transaction fees in advance.

Tracking the money you send is very streamlined with Ria. Users receive order status notification emails throughout the process, including alerts if the transaction is flagged for review as well as when the recipient has received the funds. In addition, users can visit the Track a Transfer page and instantly see the status of the money sent by entering the order number, PIN, or reference number, and customer service agents are also available via email or phone seven days a week.

Two unique benefits of using Ria are the refer-a-friend program and the 30 days of free money transfers for new customers using a debit card. Referrals earn Ria users a $20 gift card for every new customer that completes a paid money transfer, and all new users who opt to send money using a debit card can send money with no transaction fees in the first month.

With 100% transparency in fees charged, multiple ways to send and receive money, and detailed tracking capabilities, Ria is one of the best money transfer services currently on the market.

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4 stars
Western Union

WESTERN UNION Visit Site

Cost:

Starts at $5.00 for 6 day transfer

For more than 160 years, Western Union has helped people stay in touch. First, Western Union provided telegraph service, allowing customers to send messages to one another. Since then, Western Union has grown into one of the world's largest financial services companies, offering a variety of services. Western Union customers can pay bills online, purchase money orders, send and receive money, and purchase prepaid gift cards.

Although Western Union now boasts more than 486,000 locations worldwide, many of the services offered can be carried out using a computer or a mobile phone. In fact, by using a free mobile app provided by Western Union, you can send money right from your Smartphone. For those uncomfortable with 21st century technology, Western Union also allows users to call in money transfers or visit Western Union locations to make these transactions.

Money can be wired and picked up at a Western Union location, be delivered to a residence, be transferred into a bank account, or be transferred into a mobile wallet. All of these options can be paid for by the sender using cash, a credit card or by providing bank account numbers.

Prices for Western Union services vary based on a variety of factors including the locations the money is being sent from, the speed at which it is received, where the money is delivered to, and other factors. Western Union advertises that fees begin at $5 per transfer. However, the $5 fee only seems to cover a transfer of funds that can take up to six days.

Western Union's website lets the user go through the many options and figure out which ones work best for the budget. Rates will be higher for quicker transfers and for transfers to more remote locations.

Western Union's website is easy to use but has a couple of failings. First, it does not have a currency conversion calculator for transfers between countries, so you cannot view Western Union's conversion rate. Second, it does not seem to offer any method to track receipt of the money by the intended receiver.

If you want to send money to someone, Western Union has a long history of being a company you can rely on. They are worth your consideration.

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3 stars
Money Move It

MONEY MOVE IT Visit Site

Cost:

Starts at $4.99

Based in New Zealand, Money Move It is a smaller global money transfer company than many of its competitors. However, it has some features which make it appealing to those in the countries in which it operates.

Like most similar companies, Money Movie It allows the user to transfer money 24/7 using its website. With Money Move It, the customer transfers money from one bank account to another rather than to independent locations. Money Move It advertises fees starting at $4.99 to send money with no receiving charges. Their money transfer fees vary depending on how much money is sent, where it's sent to, and where it originates from.

Currently, Money Move It is limited in the number of countries it can transfer money from. Customers can transfer money from Australia, New Zealand, the United Kingdom or the Euro Zone to an advertised 40 countries around the globe. You cannot transfer money from the United States, but you can transfer money into the United States.

While it has some limitations, Money Move It has some positive features that should be noted. First, its website is easy to use and navigate, and provides a convenient exchange rate calculator. Second, a user can figure out the total transfer costs without even registering or opening an account. Third, their Privacy Policy says they never share customer information with third parties unless required by government or law enforcement officials. And finally, Money Move It places photos of company officials on the website along with links to their LinkedIn Profiles.

All of this helps build trust with potential customers. Lastly, Money Move It supports a global charity throughout its transactions and allows customers to do the same. The company supports Save the Children and says it makes a donation for every transfer they make as long as the user has chosen Save the Children as their charity choice when registering.

While Money Move It may be a smaller global money transfer company, and somewhat limited in its reach, it's a good choice for those sending money from outside the U.S.

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1 star
Money Gram

MONEY GRAM Visit Site

Cost:

Starts at $15.00

Money Gram, a global money transfer company, allows you to transfer to money to a variety of cash pick-up locations throughout the globe.

Money Gram has more than 275,000 pick-up locations in 190 countries around the world. Many are other independent businesses that Money Gram has contractual agreements with. For instance, a few of those locations in which you can pick up Money Gram money transfers include CVS and Advance America.

Money Gram advertises that money can be transferred in minutes by paying with a credit or debit card. It also advertises an economy service in which money can be transferred directly from your bank account within three days. In addition to money transfer services, Money Gram has prepaid cards available for purchase and offers a bill payment service.

For money transfer transactions, the Money Gram website is easy to use. However, their fees are higher than their competitors. This applies to both their economy service and same day transfers. For example, transferring $500 to the United Kingdom from the U.S. using their same day transfer costs $31.00 U.S. dollars. Using Money Gram's economy service would cost $15 U.S. dollars. Compare this to $4.99 charged by one of Money Gram's competitors.

In recent years, Money Gram has had numerous legal problems. In 2012, Money Gram got charged by the U.S. Department of Justice for money laundering and wire fraud. In fact, the Department of Justice noted that the corporate culture of Money Gram not only ignored issues at contract outlets suspected of money laundering, but the company actually rewarded the owners of such outlets. Money Gram had to pay out more than $100 million to its victims in 2012. As a result of the 2012 settlement, Money Gram has agreed to have an independent corporate monitor for the next 5 years who will report directly to the Department of Justice.

In 2009, Money Gram had been in trouble with the Federal Trade Commission for similar allegations of fraud and had to pay out $18 million to victims.

While money transfer companies are known to be used for various scams, Money Gram's legal problems and illegal activity originated within the company itself which makes it the least desirable money transfer company to do business with.

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Continued from above

Online money transfers can be made from the convenience of a computer, using a credit card, debt card or bank account information. The money is then sent immediately to whomever you wish, for a fee. The fees for this service vary depending on the recipient country, currency and more.

However, not all money transfer companies are the same. In fact, some money transfer services are definitely worth avoiding. Before you send money online, you should consider the following:

  • Location. Will the money transfer service work with the bank you want to send to? If not, where can you send your money so that it can be picked up?
  • Cost. What are the fees involved with the money transfer? How fast can your money be moved? How does that compare to the competition?
  • Reputation. Does the money transfer service have a strong reputation in the marketplace?

TopConsumerReviews.com has reviewed and ranked the best money transfer services available today. We hope these reviews help you send money safely right away!

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