International Money Transfers: An Overview of Money Transfer Systems

Transfer money in our time can be in so many ways: with the help of a bank card, a bank account, a system "from hand to hand." Now you no longer have to wait long queues at post offices and wait for a money transfer within a few days - modern money transfer systems allow you to transfer money in a matter of minutes.

Among the many money transfer systems, the following systems are popular:

• Western Union


• MoneyGram


• UNIStream


• Contact


• Migom


• Cyber ​​Money and others.

Western Union

Western Union is a well-known international money transfer system. The main office of Western Union is locatedin the USA, service is conducted in more than 200 countries of the world, and the number of service points reaches over 370 000. Western Union money transfer services are offered by many banks in Russia, Ukraine, CIS and Baltic countries.

Every money transfer in Western Union systemhas its own control number. The sender of the transfer informs this control number to the recipient and in a few minutes the recipient can receive money at one of the service points of the system.

Maximum transfer amount - $ 5,000 for resident residents under thesending a transfer abroad. International money transfers are accepted in US dollars, in euros, in rubles. If you need to convert the currency when receiving a transfer, the system may retain an additional commission.

MoneyGram

MoneyGram is a system of urgent money transfers without opening an account with a bank. Money transfer is carried out in just 15 minutes. The system MoneyGram has more than 200 thousand offices in more than 190 countries. To make money transfers through the MoneyGram system, just fill out the form for sending the transfer, enter the transfer amount, get the transfer control number. After that, it only remains to inform the control number of the transferee and the money can be received within a few minutes.

The sender and the recipient must,transfer a show of identity cards. The commission from the transfer recipient is not charged. To ensure the security of the transfer in the MoneyGram system, it is possible to cancel the transaction and immediately return the funds.

UNIStream

International money transfer system for individuals UNIStream is represented in 95 countries of the world by more than 190 thousand service points. In the UNIStream system, you can send and receive money transfers in US dollars, euros, Russian rubles.

Speed ​​of money transfer receipt - from 10minutes, depending on the difference in time zones between the sending and receiving countries. The transfer is issued in the transfer currency, the transfer fee is from 2%. To receive a transfer, it is not necessary to fill out various forms - information about the requisites of the transfer can be communicated orally to the responsible performer.

Contact

Contact is the Russian international money transfer system. The services of this system can be used by individuals without opening a bank account. The maximum amount of transfer in rubles is 350 000 rubles.
The maximum transfer amount in euros and US dollars is set at 10,000 EUR or 10,000 USD, respectively.

The money transfer system of Contact coversmore than 80 countries. The fee for remittances in rubles, US dollars, euros between Russia, CIS, Baltic and Georgia ranges from 2%, the commission for money transfers in US dollars or euros to non-CIS countries is from 3%.

Migom

Migom (Migom) - a system of money transfers throughout the CIS for individuals. The system has more than 2500 itemsservice. Money transfers are accepted in rubles, Belarusian rubles, euros, US dollars. Commission is from 2% to 3%. The maximum amount of money transfer for one transaction is 10 000 USD or 330 000 rubles.

Money transfers Migom is distinguished by high speed (from 1 minute), simplicity and convenience of registration.

Comparative table of international money transfer systems