What is Remittance?

In a broad sense, a remittance can simply refer to the transferring of money overseas between two parties for non-commercial purposes. However, the term is usually used in the context of people working overseas sending money back to family in their home country. Now, The emphasis here is on “non-commercial,” as remittances are different from…

ACH Vs. Wire Transfers

Quick Overview: ACH vs Wire Transfer What is ACH payment? An ACH (stands for Automated Clearing House) lets you transfer money from one bank account to the other without using cash, check, credit or debit cards, or wire transfers. In this system, payments are electronically processed by clearinghouses (which are intermediaries between two banks). ACH…

Best Foreign / Multi Currency Accounts (Uncovered)

1. What is a Multi-currency Account? A multi-currency (or foreign currency account) is a type of account that allows you to hold, send, and receive funds in multiple foreign currencies. Having a single multi-currency account can be cheaper to manage, compared to multiple bank accounts in different countries — where you may have to pay…

8 Best Services to Transfer Money Overseas

Transferring money internationally safely, inexpensively and quickly seems to be easy. Just pick a reputable service with great reviews. Not so fast. After years of writing reviews and transferring our own money around the globe (personally and for business), as we have written about for years it is easy to miss one very important thing:…