A cash pickup or agent pickup refers to a payout method where the receiver of a transfer picks up the cash from an agent of the money transfer provider at a physical location. It is an alternative to having the money deposited directly to the beneficiary’s bank account.
Cash pickups are often the preferred choice for receivers who do not have access to formal banking services. However, even for those with access to banking services, they normally find cash pick up a faster method of receiving money, especially smaller amounts.
Most money transfer providers have wide coverage with lots of stores. Some providers choose to partner with other players in the receiving countries to establish or grow their reach.
One thing you need to watch out for are the fees charged for cash pickup. They could be higher than bank charges for some providers. Western Union, Xoom, WorldRemit & Remitly are some of the companies that offer cash pickups.