Cheapest way to send money abroad
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Anonymous
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To Japan, specifically.
USPS has an international money order. I can do a bank transfer. What about those FX companies? Or just buy bills at an exchange place locally and send them through the post? I would appreciate any advice, thanks. |
Anonymous
| I used BOA to send to Southeast Asia - about $35 |
Anonymous
| Why not Western Union? |
Anonymous
Whatever you do - don’t do this!! |
Anonymous
Sorry- the only part that I meant to bold was the sending through the mail option |
Anonymous
|
OP here.
Darn, sending money through the mail was what I was leaning toward. Cheaper than all the other options, basically, and who's to know? I checked it was legal, BTW. |
Anonymous
| what about paypal? |
Anonymous
I don't think the recipient has Paypal. |
Anonymous
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Depends on the country but western union might be good for Japan.
You might want to call the Japanese embassy and see if they have tips on doing this. Japanese post offices also function like banks in some ways so there may be a unique way to send it there. I lived in japan but only sent money in yen from japan to the us so dont know the other direction way to do this. |
Anonymous
| I have a friend who lives in Nigeria who specializes in this. Let me look up his email and see if he can help. |
Anonymous
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When I lived in China for 2 years, my friends, parents and I all just swapped $$ over Venmo.
It's by FAR the easiest option. |
Anonymous
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Sorry - PP who used Venmo. All you both have to do is download the app, if you haven't already, and then it will prompt you on how to link to your bank accounts.
Upper limit for transfers is $2,999 but if you need to do more you can send every three days I think? |
Anonymous
| Venmo or Western Union. Western Union is expensive but at least you know they will get the money. Every time I put cash in an envelope before it got stolen. |
Anonymous
| Money gram is cheap. It deposits directly into a person's foreign account. |
TwistdMike
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| Ask the recipient who they bank through. Typically, there is a branch available in the US and you can ACH direct to them and is a much cheaper cost of sending the money to the Japan branch, and often better exchange rates. |