How to safely send your money abroad

While on holiday people need to be able to pay for things, which is why money and safety is paramount. It is essential to keep a small amount of cash on you, as this will enable you to pay for small items such as taxis, drinks and tips etc. Although, when it comes to large sums of money, there are other ways you can have plenty of money on you while still being able to feel one hundred percent safe. You’ve worked hard to save up the money, make sure it stays in your hands, here’s how to send money abroad the right way!


Places to buy
Foreign currency can be purchased from the Post Office, banks, foreign exchange brokers, travel agents, bureaux de change and also from online providers.

Using cash, is it safe?
Using cash when abroad is not a safe option, when you compare it to traveller’s cheques, cards or online transfers. Make sure that you check with your insurance policy, so you know just how much money you are covered for, as some travel insurance policies will only cover cash up to a certain amount, if it is stolen or lost. Typically it is between £200 and £500, so carrying more than that is very risky. Taking a small amount of cash with you is a way of making sure that the simplest things can be paid for, but also making sure that you have a card or traveller’s cheques on you as well is a good idea. That way if you lose your money, you will still have money to spend. Check to see if there is an ATM where you are going and if they accept traveller’s cheques.

Transferring money online
There are lots of companies these days, which now enables anyone abroad to receive money. This is achieved by transferring the money online, which in this day and age is an extremely safe and easy thing to do. You may be thinking to yourself, how can this be possible? Especially when there are some people who are in a country where there is little or no internet connection. Well, the great thing about transferring money online is that, these days you do not need a laptop in order to receive money, a mobile phone can also be used.

Sending money online is very simple and companies that offer this service, will all have their own requirements when registering with them, in order for a person to send money to someone abroad. Once the registration process has been completed, sending money abroad could not be simpler. One company that makes this process very simple is Azimo, they offer a service that enables money to be sent to anyone across the world, and all it takes is three easy steps.

Set Up – Register with details, using mobile app, their website or even Facebook. Provide them with basic details.

Recipients Details – Put in recipients details, state where you want the money to be delivered, bank account, mobile wallet, and home delivery. Plus they can send cash to over 200,000 locations where the cash can be collected from.

Review Payment – This is where you make sure that all the details you have provided are correct and the amount you wish to send is correct. The sender now makes the payment with their preferred method of payment: A debit card or even a bank or internet transfer. Once all the information has been checked and confirmed, the payment is then sent. Once the payment has been received at the other end the sender will receive an appropriate confirmation, depending on how the process has been completed.

Using debit, credit and pre-paid cards abroad
Cards are accepted almost anywhere in the world, they’re convenient which is why so many people choose to use them abroad.
Cards can be much cheaper to use, but you need to make sure that you choose the right card for you. Plus make sure that the card you choose enables you to withdraw cash from the ATM when you need it. Although, cards are much safer to use abroad, you still want to make sure that you know what will happen if your card is lost or stolen.

Credit Card – The protection you get is the same in the UK and abroad. So if your card is stolen, you are protected and covered, if they spend any money. Also buying goods that are faulty or undelivered will be covered as well.

Debit Card – Again you will get the same protection as a credit card against fraud. Whilst abroad, you will be able to claim compensation, if your card is stolen. Unfortunately, you will not be protected against goods that are undelivered or faulty, if you purchase them abroad.

Pre-Paid – These cards are becoming more popular, people are choosing them as an alternative to traveller’s cheques, as any money that is put onto the card is protected, whether stolen or lost. Plus pre-paid cards only contain the amount of money you put onto them, so any money you have in your bank account will not be affected.
Although sending money abroad online is the safest way to make sure you and your money are protected, there will always be people who prefer to have cash on them or other payment methods. But for those of you who do use the online transfer method, sending and receiving money, in today’s world could not be any easier.

Do you have any other tips for how to send money abroad safely?


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