How to send money abroad this Christmas
The best way to send money abroad for Christmas will depend on factors such as the amount sent and the frequency of payments. For a one-time payment of a few hundred pounds, the sender may find it easier to use their existing main bank, although they should be aware that they will likely be charged a fee.
A notable exception to this is HSBC, which currently does not charge a fee for customers wishing to send money to a country or region in the European Economic Area. The bank also doesn’t charge a fee for customers transferring money to another HSBC account, regardless of where it is in the world.
Those who do not bank with HSBC and are looking to transfer a significant amount of money or regularly send money abroad, should consider a specialized money transfer company. Often times, these companies offer much better exchange rates than the main street banks and charge little or no fees at all. In addition to this, as long as the senders use a trusted company , the money is sent securely and can be received within days or, in some circumstances, the same day.
The downside to using a money transfer website is that the money must be deposited into a bank account and cannot be transferred in cash. For those who want to send money, Western Union can be a good option, but there should be a local branch available to the recipient to ensure they can collect the money in the store.