Sending money around the world: How, when, and how much?

Working far from home can be hard. Missing your loved ones, constant travel, and long work days are draining for anyone – but when you add managing your finances and taking care of family back home to the mix, little stresses can end up feeling like a really big deal.

Many crew members depend on remittances to send money home when they are working a world away. A remittance is money sent over far distances, but for you, it simply means money you send home to someone you care for. It can be complicated, though, and the best choice for one person is not always the right one for someone else. The great thing is, you have options.

We are here to let you in on a few tips and show you what is possible so you can make the best choice for your life. And if you still have questions,Brightwell’s remittance support team is here to help.

Know your options

There are a few ways to send money across the world, and the best choice for you depends on several factors:

• How much you are sending?
• What country you are sending to?
• When do you want to send the money?
• How would you like to receive it (in a bank account or as cash)?

Here are the four basic options provided to you by Brightwell. They are yours for the choosing, but note that fees can vary by cruise line, so check with your employer to see which one is right for you.1

DirectPay

Pros:

• Automatic, fast, and easy.
• No worrying about sending money to your bank account – DirectPay takes care of it for you.
• The most effortless way to send money to your bank account.
  

Cons:

• You do not choose the amount that goes to your bank account – DirectPay automatically deposits your full pay.
• You can’t choose when to deposit, your funds will automatically be sent on your payday.
• Not as much control over rates.

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OnDemand

Pros:

• You control how much money is sent to your account, as well as when it is sent.
• You can compare rates and possibly save money by timing your transfers when rates are low.
• You have the final say of when your money is moved rather than depending on the payroll system.

Cons:

• Not automatic, so the burden is on you to send money where it needs to go.
• Additional work is needed to pay attention to rates and make sure it is economical to send.
• Less convenient, as you have to take the time to complete the transfer within the app and wait for the funds to arrive in your account.

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Cash Pickup

Pros:

• Fast way to receive cash in hand.
• Send cash to family members or pick up for yourself.
  

Cons:

• Rates can vary by country, so research is needed to see how much it will cost to send cash to be picked up at your specified location.
• Cash is less safe than having money on a card.
• It takes additional time to fill out paperwork and visit a retailer.
• You will need to make sure all of the personal information you and your family member provide is correct, or the transfer may be denied.

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Third-party services

Pros:

• Fees may be lower than options provided by Brightwell.
• Sometimes have promo offers that save you money initially.
  

Cons:

• Rates can be misleading.
• Low transfer rates are often matched with high exchange rates.

Do your research

So, how do you choose? Get the info. Compare fees, watch exchange rates (which can change daily), and make currency conversion your friend. Here is a tip: Convert your money from US Dollars to your local currency before you send the funds. Your money will move faster, and be subject to fewer fees.

Remember your time has value

After you have done your research, there is one more thing to consider. You have another valuable resource, and once it is gone, it is gone: your time. Brightwell sends your money through the mobile app rather than waiting in line in port, with information collected during implementation. This leaves you extra time to spend however you would like – not worrying about your money getting where it needs to go. Brightwell gives you choices, helps you decide what option is best, and guides you through the process. After all, it is your money – let’s make sure it travels as easily as you do.

1Restrictions may apply. See transfer terms and conditions for details.