Money Wire

[centus]

A question, if I may..

I never used it, but I know there is an option to send a person money over the regular mail services.
If I do that, I am well aware of the fact I won't have any insurance but then again, I don't feel like I need any.

Bottom line, isn't it the cheapest method?

Thanks,
Or.

 

[kattle87]

I never used it, but I know there is an option to send a person money over the regular mail services.
If I do that, I am well aware of the fact I won't have any insurance but then again, I don't feel like I need any.

Bottom line, isn't it the cheapest method?

I feel really like 20% of the money sent via ordinary mail would never reach destination....
<troll> However, it seems it's the same percentage of the CC orders that never reached Craigx and co... </troll>

 

[Mithrildor]

You can send it over mail ,but then you need to insurance that mail, and then it will be more expensive than bank transfer or transferz

 

[centus]

I think I was misunderstood, I am talking about a money wire, not sending actual money in an envelope (kattle, I think it's more like 100%)
It's basically like a bank transfer just through the postal bank/western union/etc.

 

[monvmentvm]

I think I was misunderstood, I am talking about a money wire, not sending actual money in an envelope (kattle, I think it's more like 100%)
It's basically like a bank transfer just through the postal bank/western union/etc.

From what I know western union and the likes are relatively expensive (even more than an international bank transfer). And it would be less secure than a bank transfer too (if that counts to you), but nontheless a viable option if OP accepts it.

 

[WizardStan]

That's actually a pretty good idea.
1) Write a cheque, mail the cheque, tell your bank to put a hold on the cheque. When it arrives, call your bank and tell them to lift the hold so it can be cashed. If anyone unintended gets ahold of the cheque, no bother, because there's a hold on it: it's not like they can deposit it and withdraw the funds from your account.
Safe, assuming you have confidence in the project: your money can only reach the intended recipient. Should be cheap, although bank may charge a fee for putting a hold on the cheque.
2) Get a bank draft and mail that. This should also be relatively safe: only the intended recipient should be able to cash it, and if there's any doubt about whether it's gotten lost, it can be cancelled.
Not quite as safe: someone could intercept the cheque and, if they're clever enough, alter it to take the money. However you will be able to dispute it and get your money back, it just may take time. It's definitely cheap though: $5 flat rate for every $999.99 CAD to be sent, which totally beats out every other option I've seen.
This will require some thought.

 

[Eniko]

Maybe the term the original poster was looking for was money order? Could be wrong though...

 

[Kramy]

That's actually a pretty good idea.
1) Write a cheque, mail the cheque, tell your bank to put a hold on the cheque. When it arrives, call your bank and tell them to lift the hold so it can be cashed. If anyone unintended gets ahold of the cheque, no bother, because there's a hold on it: it's not like they can deposit it and withdraw the funds from your account.
Safe, assuming you have confidence in the project: your money can only reach the intended recipient. Should be cheap, although bank may charge a fee for putting a hold on the cheque.

That's the least safe method of transferring money. I do believe sending straight cash is safer.

I can't remember the exact specifics, but the gist I got from blackhat was that using numbers printed on your cheques, anyone can...

1) Print out more cheques in your name, then cash them.
2) Get personal info attached to that chequing account.

And unfortunately, unlike credit cards, any unauthorized charges are your responsibility, and if you don't pay them your credit rating is ruined.

In this age, there's no reason not to use a credit card, paypal, google checkout, or some other digital money transfer service.

 

[Polossatik]

I've used 2 times cheques in the past to move money from US to EU and I can say:

* it's ridiculous slow to get your money (receiver) talking about 6 weeks or so before it finally "clears" - the check is actually *send back* to the issuing bank in some cases.... - wich gives you have no clue about the actual currency conversion rate you're going to get.

* it costs a lot - IIRC on one transfer around 2000 euro I had +40 euro "fees" coming from banks on both side combined.

not really the best way.
I use IBAN/BIC transfers now, clear in 24 hours and conversion is done on the rate when submitted. (= more or less the same idea as what that http://www.tranzfers.com/ stuff is using).

 

[PhenomenJan]

After my CC didn't go through I payed using a money order.
It all went pretty smoothly for me.
I was able to make the money order in GBP through my bank (Royal Bank of Canada).
It cost me $17 CAD to send it registered.
I sent it last monday (from Toronto, Canada), and got the email from Debs today.

There may be a better way, but money order and registered mail worked well for me.