As an international finance student, we were asked to submit an assignment on the various money transfer options available. We as a group started researching the topic and I was the group leader and hence I started knowing the various Choice Money Transfer options available including wire transfer, pay pal, western union, XOOM, Paisa pay, and various other options. Then I allotted each money transfer option to each member of the group.

Every member started researching the details about each Choice Money Transfer options and reported to me after a group and I said to them that they can present what ever they collected. Pay pal is one of the Choice Money Transfer which used to be free money transfer service direct to the bank account but recently charges 5 percent on each transaction to send money to the recipient. The operation is very simple and the user interface is very easy to understand.

The wire transfer Choice Money Transfer is the fastest of all money transfers and takes only a day to receive the amount from any part of the world. The charge received for making the wire transfer is on the higher side too with the bank charging nearly 40 dollars for each transaction.

Xoom is one of the recent Choice Money Transfer services that offers three options and charges a rate varying to the amount sent using each option. A customer can send the money direct to the bank account or send a check to the recipient and also send money to the card of the receiver. For each option, the charge varies considerably and for check the company charges a flat rate.

Paisa pay is the Choice Money Transfer option that is available for the e bay customers and western union money transfer is one of the money transfer option to send and receive money through the designated western union terminals functioning at various places including post offices, banks and other financial institutions.

The network of western union is wide and the commission charged is also slightly on the higher side. The person sending the amount through western union Choice Money Transfer will be given a unique identification number and this number has to be intimated to the receiver and the receiver can come to the near by western union branch and tell the identification number to the agent and collect the amount that has been sent.