I have started working in USA and I am a freelancer. I would like to know the best way to send payment from India to USA with a guaranteed result. What should be my procedure to send money to the USA? (I don’t know which company to go for. I have heard about MoneyGram, Western Union, etc)
Method 1 to send payments India to the USA:
Western Union is the best one to send money as it is the most secure. There are others that charge more but you would have to go through a lot of steps if you are a freelancer.
If you want to do a wire transfer send money to the above receiver account number on this site.
After that, they will give you a receiver account number which is your receiving account.
Send money to that receiver account number in your receiver bank account. It will be delivered within 24-48 hours.
They are best for online or phone transactions. But there are other companies as well which do fast wire transfers.
Note: They charge extra money for international wire transfers.
Method 2 to send payment from India to the USA:
Money Gram is the most common way.
Method 3 to send payment India to the USA:
Western Union was always a favorite. I have had a pretty good experience with them. I can also use them for international transfers to the USA and the same receiver. I have not used their competitors like Paypal and some of the other players but they are out there.
Here is a money gram website to find the rates.
You can also find a Paypal competitor named Transferwise. It has a great website that should answer many of your questions. They do charge but they give good rates.
And it’s free to join so you can check it out.
One last thing is that if you are going to Western Union they will typically pay for the shipping. A lot of them offer free money transfers so you can just have the cash on hand.
Method 4 to send payment to the USA:
There is a good article at http://www.brickwallpost.com/2018/01/paypal-vs-send-money-comparison/ on the website.
I also agree that if you use Paypal, use their Moneygram/Western Union fees for Paypal fees and vice versa. I know there are a few other options, but I am not sure what the better ones are.
Method 5 to send payment to the USA:
A few things to note, with Paypal at least
You can use the same linked bank accounts and they can be used as a debit/credit card. No additional account setup is needed
It will be cheaper if you send them by regular mail (USPS)
They have a pretty low minimum
There is an excellent online service that will automatically transfer money to your Paypal when you have the cash
Some things to note, and things that won’t work with Paypal
Banks usually charge to accept cash for money orders. They usually do not charge to receive cash for money orders. That is usually why banks want to receive cash for money orders.
Things that might work
Citibank has this feature called “Send & hold”. In that feature, you write them a check from your checking account and it says the bank “holds” the check and it has a certain amount of time to clear the check. When they do clear the check, the bank will then transfer the funds to the specified account (the account you want to spend on Paypal). This may be an option that a bank you are using will work with.
Method 6 to send payment to the USA:
While the idea of using an agent is not a bad one, keep in mind the inherent risks associated with this. Paypal (and their associated business partners) charge a processing fee to your agent in this case. You may want to consider just doing it yourself to avoid these fees.
From reading the comments, I think most people can agree that the agent approach is not the ideal way to go.
Method 7 to send payment to the USA:
As for the agent thing, if you use your linked account in the payment I just sent, they just give you a number of days to deposit it and that’s it, you don’t need to send it to a specific place and it doesn’t need to go via western union