It Pays to Shop Around Before Making That Wire Transfer
While most private systems like Western Union  offer same-day service and most banks require one or two business days to complete a domestic transfer, the price variance between the two is significant. Banks typically charge a flat rate for transfers, while Western Union's rates climb as the dollar value of the transaction increases.
For international transfers that involve currency exchange, the experts recommend comparing rate differences by checking with commercial banks, private systems and currency houses such as Thomas Cook . Regardless of your choice, you will most likely be charges for the cost of the transfer and a minimum of one percent of the dollar value for foreign exchanges.
Experts also recommend looking up the wholesale exchange rate published in newspapers and using this information to shop for the best rate.