Between the internet and endless wireless capabilities, there are now tons of ways to wire cash to Canada or anywhere in the world. One thing is for certain, its nothing like the old days of money transfer when you were left with only a few options.
Many transfer services are gaining stock even with the economy. To strengthen, these companies are even collaborating with leading banks so their services can be offered from multiple locations.
It is yet to be seen how the pre-paid credit card market and internet based transfer services will change, but with the boom in pre-paid cards and phones, it is anticipated to positively affect the transfer world.
In the meanwhile some banks are feeling the need to allow customers to use cells phones to make transfers. So far only the iPhone can store account information for a pay-as-you-go type application, but other phones are expected to offer similar options.
More traditional transfer companies do not expect to see an effect from alternative options until 2012, at the earliest. But the good news is that even with unstable economy, the transfer service industry seems to be have the right tools to stay afloat.
Currently, the best way to transfer money to Canada is through a bank or an old-fashioned service. This is recommended because of the guaranteed security. Now although the industry is growing tremendously and some newer methods may come across as good options, be cautious as these systems are still in the works, therefore with safety as your number one concern you should always make sure to choose a credible establishment.
One big roadblock is getting the global community to agree on rules to govern money transfers. So until banks and governments see themselves on the same page when it comes to regulating pre-paid cells and money transfers, you will be forced to settle on either a bank-to-bank or a location-based transfer service to get your money to Canada. Regardless of which you choose rest assured knowing both will have your money arriving safely at one convenient spot.
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