For the first time in my life I am looking into sending money overseas.

I know that I could "easily" do it through my bank, but I have heard from many sides that the "easy" comes at a price.

I looked into it, and basically it seems that among the possible options (banks, paypal, brick-and-mortar wiring services, online wiring), unless I missed something in the fine print or some other alternative, the cheapest is doing a wire online.

My problem is then that searching on Google or DuckDuckGo returns plenty of results, all names never heard before.

How do I go about evaluating the trustworthiness of these services and avoid giving money to scammers?

  • 2
    I have heard from many sides that the "easy" comes at a price. So what. Everything has a price. Ask your bank how much it would cost. The rates may be available on their website, unless the operation you are contemplating is a bit unusual. Some money exchanges are very well-known and reputable. If you are willing to try a lesser-known provider, at least make sure it is licensed and authorized in the country of origin/operation. For example in the UK there is the FSA, other countries have similar bodies that regulate financial institutions.
    – Kate
    Nov 19, 2021 at 18:34
  • No, do not ask your bank how much it costs, rather open an account in the bank where it costs less. Nov 20, 2021 at 0:24
  • How much is the difference in fees likely to be? Is the time and trouble of trying to evaluate the trustworthiness of a service you’ve never heard of (and probably still not being 100% sure) worth it for the sake of saving a few $? You might try asking on money.stackexchange.com/questions
    – Traveller
    Nov 20, 2021 at 9:04
  • I don't undertand what "opinions" I would be asking here. All I got in the comments is frame challenges (to me useless, because that's where the opinions are)
    – Federico
    Nov 20, 2021 at 12:36
  • 1
    If you send money through Western Union, you can be confident that the right recipient will get it. (Although Western Union is also used by scammers - if you use them to send money to a scammer, they will make sure the scammer gets it. And there's no way to get your money back).
    – gnasher729
    Nov 20, 2021 at 23:39


Browse other questions tagged or ask your own question.