There are multiple ways to transfer money to Europe, each with their own advantages and disadvantages. Which one is best for you? That depends on several different factors, such whether you and the money's recipient(s) have access to your own bank accounts; whether or not there is a facility in the country (or for that matter in a local location); and how significant a transfer may be for the intended recipient(s) of the money.



1. Bank wire transfer. This is often considered the safest of the old, traditional ways to transfer money to Europe. It requires both parties to have a bank account. But often times, new immigrants to the U.S. who want to send money home to their families don't have a U.S bank account. It also may be that their families back home don't have an account in any bank.

A wire transfer usually costs $35 to $45. If you're sending well into three figures or more, this is cheaper than other services. But not as cheap as at least one of the debit card services where you add money to the card online.

2. Offline wire services. These are popular way to transfer money to Europe, where they are available. But they often only allow for a limited amount of money.

Plus, they are usually fee and/or percentage based, which can really eat up a significant portion of the money. For example, sending $1,000 via a wire service to many European countries will cost you $68--almost 7% of what you're sending!

One thing that offsets this expense is the fact that offline wire services are generally seen as a reliable way to send money, regardless of location. Unfortunately, it is not available in every country. Second- and third-tier services may be available but charge an even higher percentage, and not all of these services have the trusted brand-name to protect.

The effect of high transfer costs on recipients is pronounced, especially in the poorer Eastern-European countries where that percentage could go a long way if it were actually in the hands of the recipient(s) instead of the wire service.

3. Remotely-loadable debit/ATM card. You can also send money via a rechargeable ATM/debit card. At least one of these services will allow you to load money onto the card via toll-free number as well as online interface.

The company then sends a pre-loaded debit card to your recipient via FedEx. There are over 1 million ATM locations worldwide, a great deal of which are in Europe. What's best is that you can send a thousand dollars for as low as five bucks, which means more of the money gets to the people it's supposed to get to, and less is eaten by the "middle man".

Of course, which method you choose may depend on a number of factors, depending on your location. The important thing is that you educate yourself about the options before you transfer money to Europe. Doing so will make sure you are able to send the most money in the securest form possible.