The best way to send money abroad for Christmas will depend on factors such as the amount being sent and how regularly payments would be made. For a one-off payment of a few hundred pounds, the sender may find it easier to use their existing high street 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 to customers wanting to send money to a country or region within the European Economic Area. The bank also does not charge a fee to customers transferring money to another HSBC account, no matter where in the world it is located.
Those who do not bank with HSBC and who are looking to transfer a significant amount of money or send money overseas regularly, should consider a specialist money transfer company. Often, these companies offer much better exchange rates than high street banks and charge a small fee or no fee at all. In addition to this, as long as senders use a trusted company , the money is sent securely and can be received within days or, in some circumstances, on 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 into cash. For those who want to send cash, Western Union may be a good option, but there must be a local branch available to the receiver to ensure that they can pick up the money in store.
