Atlanta Finance Group

From time to time you may come across the necessity either to send or receive finances as rapidly as possible. Previously the respond to the inquiry “how to send money online?” was clear - go to the post office. There were 2 options for remitting money: by postal order and by telegraph. Individuals transferring money with the help of one of those ways wouldn't worry about the worth of the facility as the worth used to be rather competitive. Since that time the value of remittances, their locality and rates have altered significantly. Transfer of e-money is a very advantageous business and so large local banks and representatives of universal transfer systems began to supply it apart from post offices. Thus, to remit funds without establishing bank accounts you have a wide range of options to select. Read the following article to be able to choose the most suitable transfer for each specific situation.

WESTERN UNION

The agency known today as Western Union Financial Services, Inc. emerged in 1851 in the USA. Their operation in the area of sending money started from 1871. In 1995, WU became a part of First Data Corporation. WU created a system of worldwide cash transfer. It contains not less than 117 thousand items of client facilities and functions in 197 countries. To become the agent of WU, a juridical person which is usually a bank must have a license to work with exchange transactions.

Transfers are guarded by security system of the highest world standard. To obtain money the receiver has to know the check number including 10 digits and the secret code word containing not more than 4 words.

Payment of finances is carried out in the currency specified in the agreement of the representative with the company. One can transfer money beyond the borders of our country solely in USD. Money is converted electronically in accordance with the rate of the agency at the instant of money transfer. The rate is established each day (sometimes several times a day) and can at times be beneficial to the customer but not all the time.

MONEYGRAM

In 1988 a subsidiary of American Express known as MoneyGram Payment System was established. Nowadays the MoneyGram transfer system has its representatives in 142 countries, supplies not less than 50 thousand items of services and is a participator of the Travelers Express Company Inc. About one-fifth of all quick finance in the world is transferred through this agency. The mode of functioning of the MoneyGram system (MG) is identical to WU.

To get the funds you need to possess a passport and the control transmission code (8 symbols). To every transfer one can add a free letter to the receiver containing 10 words.

Needing to carry out a cash transmission one can always rely on the conventional systems of universal cash remittances which are Western Union and MoneyGram to obtain quick facility. You will find them especially beneficial when you wish to send $400 and above. Sending this quantity as a transfer, you'll have to pay 5-10% of it for the commission fee.