International payments 'make good Xmas gifts'

UK customers have been advised to avoid the risk of Christmas parcels arriving late at overseas destinations by sending cash gifts via money transfer instead.

Using money transfer services to make international payments also often works out as cheaper than bank transfers, the Daily Mail reported.

Figures compiled by the newspaper show that making an international draft from a bank also carries fees of as much as £20 per transaction - and might even entail extra processing costs from the recipient's bank.

"As an alternative, where you don't need to know the recipient's bank details, you could use an online money transfer service, which will be cheaper than a bank transfer," the Daily Mail added.

"Watch out if you're planning to send Christmas presents abroad: you may have already missed the boat. If you haven't already posted your parcels, then you may want to consider cash presents instead."

Money transfer services also commonly offer discounted foreign exchange rates and can be paid via BACS, CHAPS, debit card and credit card.

Click here to make an International Money Transfer

Posted by Richard Planner