What are some popular money transfer services?


Quick Answer

Some popular money transfer services as of 2015 include Western Union, PayPal and MoneyGram according to Tim Parker for Investopedia. The money transfer companies have a wide network and enable an individual to transfer money fast.

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Full Answer

Established in 1851, Western Union has more than 500,000 agents across the world. The company gives the option of using the three-day service or the fast service that transfers money within minutes, explains Investopedia.

PayPal has been in existence since 1998, and in most cases it enables an individual to transfer money for free and to pay for purchases with a credit card. Despite being more of a payment processor, what it offers to users rivals what other money transfer companies offer, according to Investopedia.

Founded in 1940, MoneyGram has a presence in 200 countries with more than 320,000 locations. The company has a one-day transfer time but if the customer wants to transfer money in 10 minutes, he can pay for faster service, notes Investopedia.

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