Money Transfers while abroad
How knowing your money transfer can be important while going abroad?
When you will be participating in your intern abroad, or volunteer abroad program there might be times when you need money fast. Not even in the matter of days, but even hours! A lot of travelers often times run into problems and unexpected expenses that they haven’t budgeted for and turn for help to their friends and family back at home. It is important to have a well thought out plan of actions so that your friends and family can act fast and transfer money when you really need it!
Money transfers come in many different ways, some are very liquid and you can get cash fast and others may create you even more problems and hassle that you don’t want to deal with. Money transfers are fast, cheap and very easy to send to almost any country in the world! Well known services like Western Union and Money Gram are among top leaders in international money transfers that you can use. When using such services, the best part about them is that you can get cash fast the same business day it was sent, so you don’t have to worry for the bank to wire money which usually takes 3-5 business days. You also don’t need a bank account when receiving international money transfers, you can cash money at any location that offers these services. On the other hand, when you use bank wire transfers you absolutely have to have a valid bank checking account which you are not going to have while you are studying abroad anyways.
When making that plan of actions for your friends and family in case of an emergency it is important to equip them with all the needed information to be able to help you when you are on your study abroad trip. Most likely all that your friends and family will need is your full name and exact location. Leave your temporary address and all the phone numbers for them to be able to connect with you. It is always handy to have a travel phone while abroad.
If you have a good trusted local friend, or local coordinator that helps you to get – talk to them and see if your friends and family can transfer money to him because it will be easier for them to get cash fast. Make sure you that your friends and family have all the need information. It is also advised to get cash with this trusted individual as with him you will be safer then by yourself. When you are alone you are more likely going to be approached by local criminals and hooligans. So be aware of it! Foreigners, especially in remote locations are very noticeable and stand out of the crowd easily, so be careful!
Here are some benefits of using money transfers:
Easy to use
Fast and reliable
Sender doesn’t need to have a checking bank account
Receiver doesn’t need to have a checking bank account
Always there when you need it
Plan ahead of time, read our tips, and have less stress while abroad! Remember you can always Contact Us with your inquiries!