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How to Send Money to Peru

It's incredibly easy to send money to Peru online using Xoom international wire transfers, and in just a few clicks of the mouse, your family or friend will have the cash they need quickly.

Xoom offers two services to Peru: cash pick-up or bank deposit. With a cash pick-up, your recipient will need to head into a branch location and get the money in-person. If you plan on using Scotiabank, this happens nearly instantaneously – your cash will be available right away. Other banks, such as Banco de Credito BCP, Interbank and BBVA Banco Continental, are also supported, but they may take slightly longer.

With a bank deposit, the money will instead be credited directly to a bank account (you'll need the bank account number for this type of transaction). Your recipient will have access to their money at an ATM. Again, this is instant with Scotiabank and slightly longer with the other banks – but everything will likely be processed within 15 minutes during normal working hours.

If you plan on sending money to Peru via Xoom, you can choose between converting to nuevo soles or keeping your money in American dollars. The most you can send in this fashion is $2,999 at once. If you do plan on sending in nuevo soles, Xoom will display the exchange rate when you log on and you'll be able to lock in that rate, so you don't need to worry about market fluctuations. 


How to Send Money to Mexico

Sending money to loved ones back home is a common practice for those living and working abroad. Fortunately, using Xoom is an easy way to send money to Mexico, as most transfers will be processed extremely quickly.

An important factor to remember when doing this is exchange rates. When you send money using Xoom, you'll be simultaneously converting dollars to pesos. The current exchange rate shows $1 as equivalent to about 12.4 pesos. Xoom will clearly display the day's exchange rate, and you'll lock that rate in as soon as the money is sent.

You have two options when sending money to Mexico: cash pickup or bank deposit. A cash pickup typically processes quickly, and your recipient can pick up their money at one of the many participating banks. Bancomer, HSBC, Banorte, Banamex, Santander and Bansefi are among the participating banks, all of which process the transactions in under 15 minutes.

You can also send money via a bank deposit. This will deposit the funds directly into your recipient's bank account, so they'll be able to access the money at any ATM. This process takes just a bit longer – Banamex, Bancomer and Banorte will have the funds ready in under an hour. Other branches are available for bank deposits as well, but may take slightly longer.


London Olympics football: It’s "The Albert"

London is gearing up for the 2012 Olympics, and many are looking forward to the football matches that will be played during the event, as teams from all over the world will compete for the gold medal. Adidas, the official sportswear provider, recently revealed the name it had given to the ball to be used for the competition.

Soliciting suggestions from more than 12,000 UK residents, the sportswear company finally settled on “The Albert” as the official name for the ball. It sounds a bit odd if you don’t know London slang, or “cockney,” which tends to use sound-alike words. In this case, London’s famous landmark, Albert Hall, happens to rhyme with ball. The name was suggested by Derbyshire resident Robert Ashcroft.

“I can’t believe that my name was chosen for the ball that will have such a big part to play in the biggest sporting event on earth,” Ashcroft said. “The name was an obvious choice for me. With London hosting the 2012 Games it made sense to name a ball with the London cockney rhyming slang heritage.”

Thousands of people will descend upon London next year to watch the matches played with the new ball. This is a great time for ex-pats to head home, but if they can’t make it, it’s also a good opportunity to wire money abroad and assist loved ones with their celebrations.


United British football team hits roadblock

Controversy over the British football squad for the 2012 Olympic Games in London continues after a bizarre statement made by the British Olympic Association (BOA) turned out to be completely false.

The BOA released a statement that said an agreement had been reached between England, Wales, Scotland and Northern Ireland to field a joint squad made up of players from all four countries. The idea of a Welsh player like Gareth Bale sharing the pitch with rumored England overage addition David Beckham understandably had many fans excited. However, it turns out there was no such agreement in place.

“The Football Associations of Scotland, Wales and Northern Ireland reiterate our collective opposition to Team GB participation at the 2012 Olympic Games in London, contrary to the media release issued by the British Olympic Association,” reads a joint statement signed by the heads of the three associations.

The four countries operate as separate entities in FIFA, with each fielding their own separate national teams, despite the fact that all make up the United Kingdom. While FIFA rules don’t apply to the Olympics, the Scotland, Wales and Northern Ireland delegations fear that they may lose their FIFA status and be forced to merge with England if they go ahead with the plan for a united team.

When the Olympic Games kick off in London for 2012, it’ll be a time of celebration for all U.K. citizens, regardless of how their teams end up doing on the pitch. Many of ex-pats living abroad will use international wire transfers to send moneyback home during the festivities.


Sending money online makes gap years a breeze

The concept of a "gap year" is decidedly European in nature, although it is slowly making its way around the rest of the world. Essentially, this is a year between high school and the beginning of college when a student will take some time and travel to new places before settling in to four more years of studying.

With school ending just a few weeks ago for many students, no doubt many will be planning their gap year adventures at this time. There's a lot to consider, and leaving for up to a year can definitely be on the expensive side. Students and parents will have to worry about finding a place to live, meals, travel expenses, safety and much more.

It's nearly impossible to budget out a year-long trip beforehand, and even if students plan on leaving for a shorter period of time, there are always unexpected difficulties that can arrive. That's why families need to have a backup plan.

An easy way to set parents' minds at ease is to remember that they can always send money online. This simple process allows families to wire money to their children no matter where in the world they are. The funds can be deposited directly into a bank account, picked up by the student at a number of locations or even delivered directly to a doorstep.

Gap years are ultimately about letting go and allowing a child to go off on their own before college. Yet parents can feel more comfortable knowing they have the safety net of international wire transfer services.


The basics of banking

For those who have just come to this country for the first time, the banking system can be a bit difficult to figure out. Fortunately, a few easy tips can help new immigrants become banking pros in no time.

It helps to know the advantages and disadvantages of banking. Unlike hiding money underneath your mattress, the money you save in a bank is completely secure and protected against theft – or a fire. There's also the convenience of banking. With a debit card, you can pay immediately with money stored in your account, and you'll also have access to ATMs free of charge. Finally, many savings accounts pay interest. While small, this can quickly add up and earn you more money.

Of course, there are a few drawbacks. Depending on the type of account you open, you may be subjected to fees and other surcharges. There can be a fee for basically everything – bouncing checks, overdrafting, stopping payments, monthly maintenance and more. These vary depending on the bank, so make sure you ask for a detailed explanation of fees before you sign up. Compare several banks to find the one right for your lifestyle.

Most banks also have a minimum balance requirement. If your account dips below this, you'll be subject to more fees. The minimum varies depending on the account. Usually, the higher the minimum balance, the more interest you earn.

Banking also comes into play when cashing or writing checks. Most employers support some type of direct deposit, where your paycheck will be added to your account directly. Your bank will cash your checks free of charge – something that you'll have to pay for otherwise. And finally, signing up with a bank gives you the ability to write checks yourself – just make sure you ask for a checkbook once your account is confirmed.

Once you've got your bank account nice and healthy, you can begin thinking about sending money back home. Online wire transfer services allow those living abroad to send and receive money quickly, easily and securely.

Nearly all banks also now offer online services. You can check your balance online, and even from your mobile phone. The abilities that each bank offers vary, but most allow you to do things like pay bills, transfer money between accounts, view your statement and check the status of any pending payments.


Financial safety tips when visiting another country

When you're traveling outside of your native country, you should take precautions to protect yourself financially. You should keep receipts and records of any money that you spend while you are abroad, so you can compare your records to those of your financial institutions. This could help you spot any unauthorized purchases or other unusual activity.

If you plan to use credit cards while you are abroad, you should inform your credit card company that you will be out of the country and provide them with the length of time that you will be making purchases internationally. Otherwise, any transactions that are made on foreign soil may be flagged as suspicious activity, and the credit card company could deny any purchases that you try to make. Should you happen to find yourself in such a position, you can ask friends or family to wire money to help you out of a jam.

People can send money directly to your bank account with a wire transfer company, which means that funds will be available immediately. This can save you the hassle of tracking down an office and making the journey to pick up a money transfer. It can be especially convenient if you do not speak the native language and are visiting an area where people might not speak yours either.

"If your financial institution offers daily balance alerts and other account management tools, sign up for them," Mike Urban, a fraud expert at a credit-score company told the Seattle Times.

It is also important to monitor any financial accounts while you are abroad to ensure that other people are not trying to access your information. Many banks and financial companies offer applications for smartphone users to check their account information on the go.

Take precautionary steps to protect yourself in case you lose your wallet or your credit cards, money and other personal information are stolen. You should write down all of your credit card and bank account numbers as well as the phone numbers you would need to contact your financial institutions in order to report the theft or loss. Keep this information somewhere safe in your hotel room or home in case of emergencies.

If your credit cards are stolen or lost while you are visiting another country, you can have family or friends send money to a wire transfer office. All you need is identification to prove that you are the recipient and you can get funds to help you out while you sort things out.

The U.S. Department of State recommends that while you are traveling outside of your country, you should never carry large amounts of money. While you are visiting another nation, your family can send cash via a money transfer service. They can have the company deliver the funds directly to you or send money to an office in the place that you are visiting, so you can pick it up while you are out and about in another country.

Hotels often have safes in guest rooms that you can use to store valuables and any cash and cards that you do not need on your person when you are out and about. If you are moving to another country, you may want to consider purchasing a safe to protect important documents and money.

Money belts are a common way to carry money safely on your person. They are worn beneath your clothes so pickpockets and other thieves will be less likely to target you. Wearing a money belt can be a good idea if you are planning on going to a fancy restaurant or spending the day shopping, but you are uncomfortable carrying money in a more conspicuous location.


Panama takes down U.S. in Gold Cup upset

International tournaments always provide an opportunity for “giant slayers” – small teams that take down big prey – to emerge, and it appears that’s exactly what’s happened with the Panama national football team.

This roster doesn’t boast anyone of international renown, and yet the team has been perfect in both of their CONCACAF Gold Cup performances thus far – taking down Guadeloupe and the mighty United States.

Panama was expected to beat Guadeloupe, but their upset over the U.S. was a shock to say the least. The Americans were heavy favorites going into the match, as they have never lost a group stage match in the Gold Cup. Yet Panama struck early with a beautiful goal from Luis Tejada in the 14th minute.

The U.S. then became their own worst enemy. Defender Tim Ream gave away a silly penalty to Panama after an errant kick struck Tejada in the box. Gabriel Gomez was able to slot the shot by superstar goalkeeper Tim Howard.

Panama retained the two-goal lead into the second half, but the Americans tried desperately to get back in the game. Clarence Goodson eventually struck for the red, white and blue in the 68th minute, and from then on Panama had some nervy moments as they tried to defend. A little luck certainly played into the victory as well – specifically on a Jozy Altidore cross to Chris Wondolowski that the American striker somehow skied over the crossbar despite being about four feet in front of a wide-open net.

Victories over a team like the U.S. don’t come very often for countries like Panama, and surely the whole country is celebrating right now and is eager for the team’s next match against Canada. No doubt many former residents will be using international wire transfers to send money back home to their loved ones to help with festivities.

Panama’s win, combined with their earlier win over Guadeloupe, means that the team could end up winning their group, something no expert would have predicted going into the tournament. If Panama beats Canada, they win the group and get a slightly easier route to the finals. Canada or the U.S. still have a chance to win based on goal differential, and most believe that the U.S. will put in quite a few against a weak Guadeloupe side.

Still, Panama is almost all but assured of going through to the next round of the Gold Cup, which is certainly reason enough for the celebrations to begin.