I want to send money from Canada to Panama every month and I am wondering what the cheapest and best way is. I searched the posts and mailing a money order seems like it is not the best idea. Western Union is expensive but is it the only option? I guess there is no way to deposit it into the persons bank account in Panama? Thanks for any insight or ideas!
1
louisg
Have a look at Moneygram. They have outlets in Cdn and usa supermarkets and can send money to the recipient's bank. They cost money but much less than Western Union. Another option that might work is to do it with Paypal. According to the Paypal website, it is free and requires that you both have email.
2
stuart333
But why would you think there's no way to deposit into the persons bank account in Panama? Shouldn't be a problem, get the person to give you all account numbers, swift codes and so on. The money goes to an America holding account and then to the Panamanian bank account so you'll need both sets of numbers. Their bank will be able to tell them what they need.
I doubt that Paypal will work. For one I'm pretty sure that they do charge fro Paypal to Paypal and I'm also pretty sure that you can't link Paypal to a Panamanian bank account. If you can't there's no way to get the money out in Panama.
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