Friday, January 16, 2009

Best Ways to Send Money to Guatemala

By Chloe Banks

There are numerous ways to send money to Guatemala, each with its own set of standards that govern how the money is sent. The costs of these services vary, as do the level of security provided for the transfer of funds, as well as the amount of time it takes for the money to arrive.

Sometimes the amount of time it takes to send the money is the most important factor. In this instance it is important to know what options you have when sending money to Guatemala. The most pressing thing to remember is to prepare now to have everything in place for a transfer.

In instances like this it may be easiest to send money using an online service such as ATM Cash, which allows you to send money 24/7 from your computer.

Another way to ensure the money gets there quickly is to make sure the recipient has an ATM or debit card. If you know the recipient will only withdraw the intended amount, it's often useful for them to have a bank card linked to your checking account.

As long as they have a card and the PIN number, they will have access to cash through an ATM machine. This is a possible option as long as you are comfortable with the cardholder having access to your account at all times. For situations where you do not want the intended recipient of funds to have access to the money in the checking account at all times, a pre-paid debit card is a solution. A pre-paid debit card is a card just like any other ATM card except for the fact that it is loaded with a specific amount of money.

The cardholder will have no access to funds until you have refilled the pre-paid debit card. At this time you could notify the recipient via phone that money has been added to the card.

Opening an account with a bank that has branches in both Guatemala and the U.S. will also help facilitate easier transfers.

The above are some steps to ensure that money to Guatemala arrives quickly when you need it.

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