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Paypal or wire transfer or western union

Discussion in 'Payment Processing' started by Adria.John, May 8, 2010.

  1. #1
    Hey guys,

    I want to transfer money from UK to India, which one would be cheaper for me as well as for the receiver.

    As i want to transfer money next week, therefore seeking your advice at the earliest.
    SEMrush
     
    Adria.John, May 8, 2010 IP
    SEMrush
  2. ronmac

    ronmac Well-Known Member

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    #2
    depends on the amount of money you are sending
     
    ronmac, May 8, 2010 IP
  3. 06ec077

    06ec077 Member

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    #3
    If you use western union ,it will take only time of reaching the kiosk premises.when you deposit money ,they will give you a code .Your relative should go to kiosk and produce code along with an identity proof to get the money .

    For Pay Pal
    Now if your relative have a verified ,bank account attached pay pal ,it will take at lest 2 days for money transfer in bank account.
    I
     
    06ec077, May 8, 2010 IP
  4. jatin17

    jatin17 Peon

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    #4
    depends on amnt .
    it hink there is a limit of 50k per day for recieving in india.

    so c the amnt u have to transfer.
     
    jatin17, May 8, 2010 IP
  5. Digital_shubhi

    Digital_shubhi Prominent Member

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    #5
    Better use Wire Transfer as its safe as well as fastest way to transfer money. :)
    PayPal is not good for these kinda transfers.

    - Mr.President -
     
    Digital_shubhi, May 8, 2010 IP
  6. Brett Sinclair

    Brett Sinclair Greenhorn

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    #6

    Yes, I have to agree with this one too. Wire Transfer is safer and faster.
     
    Brett Sinclair, May 8, 2010 IP
  7. Snoork Hosting

    Snoork Hosting Active Member

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    #7
    Definitely wire transfer due to more secure payment transfer.
     
    Snoork Hosting, May 8, 2010 IP
  8. zodiac

    zodiac Peon

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    #8
    what kind? the money kind or the to India kind? :confused: :rolleyes:

    the OP has not said how much or even if he knows the person.

    wire is the opposite of safe if you don't know the person.wire is the same as cash.

    a lot of places wire costs a lot.it doesn't make sense to wire a small amount.i don't know about the UK,but in the US it costs as much as $45 USD for an international transfer.
    the receiver also may get a fee from their bank.

    also wire is not faster then paypal (except for echeck).wire is not instant. :p
     
    Last edited: May 8, 2010
    zodiac, May 8, 2010 IP
  9. vannarith

    vannarith Active Member

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    #9
    How about wu? WU not good as Wire Transfer?
     
    vannarith, May 12, 2010 IP
  10. plaieu

    plaieu Peon

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    #10
    have a look
     
    plaieu, May 12, 2010 IP
  11. cheeta.admin

    cheeta.admin Well-Known Member

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    #11
    wire transfer or use WS.
     
    cheeta.admin, May 12, 2010 IP
  12. clbyodo

    clbyodo Peon

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    #12
    Use Paypal or Western union.
     
    clbyodo, May 13, 2010 IP
  13. Adria.John

    Adria.John Greenhorn

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    #13
    Thanks all for your response. I really appreciate.

    Actually i need to send Pounds 1500 to my friend. I know paypal charges 4% of the amount, but has no idea about the wire transfer?
     
    Adria.John, May 13, 2010 IP
  14. JoomlaDesigner

    JoomlaDesigner Active Member

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    #14
    I'll prefer to go with Wire transfer as it will be the cheapest thing...
     
    JoomlaDesigner, May 13, 2010 IP
  15. papabilqis

    papabilqis Peon

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    #15
    My advice ; wire transfer - fast & safe
     
    papabilqis, May 13, 2010 IP
  16. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #16
    Western Union is also very fast and secure IMO. Already used 4-5 times.

    DON.
     
    deluxdon, May 13, 2010 IP
  17. PaulSch

    PaulSch Active Member

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    #17
    I'd go with Western Union.
     
    PaulSch, May 13, 2010 IP
  18. Adraco

    Adraco Active Member

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    #18
    Western Union only allows for small amounts to be sent via their webpage interface. You need to go to an affiliated store to even find out what the fees are going to be for you. But for that amount of money, I would say that you will probably be better off paying a fixed wire fee at your own bank.

    For you, Paypal would charge around £60, plus that your friend will have to do a conversion to withdraw them in India, and thatconversion rate is Paypal's own, guess ifthey make it a little extra low so that they can earn a few more pounds on you/your friend? Correct answer: You betcha it's a bad conversion rate, one of the worst around, take it or leave it! :)

    There are other online services too, Like Moneybookers, Alertpay and so on and so forth. The main point here is that they all charge the same or more than Gaypal, plus have even worse conversion rates.

    So given the amount of money, and that a currency conversion will be involved, don't listen to the low-ballers of DP who have sent $100 and then thinks they have have done big international business. This is, after all, just what banks do. Yes, it costs a fee, but it will most certainly be lower plus your friend will with the utmost security get a better conversion rate when he receives the money. All in all, less fees and more money left to spend!
     
    Adraco, May 13, 2010 IP
  19. komrad

    komrad Notable Member

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    #19
    I would suggest you to go with wire transfer. Paypal takes your money too big.
     
    komrad, May 14, 2010 IP
  20. balu2

    balu2 Greenhorn

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    #20
    I would suggest for wire transfer because it is safe and fast.
     
    balu2, May 20, 2010 IP