Palau uses the American Dollar (USD). The USD is generally regarded as the default international currency, whenever others are not applicable. The USD is quite strong (relative to historical performances), and sending money in USD is easier and gives you more options than you’d normally have.
The fastest way to send cash to Palau is through Western Union’s fast option. With Western Union’s fast option, you can expect your cash to reach its Palauan destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.
The cheapest way to send cash online to Palau is through OFX. With OFX, you only pay a small percentage of each transaction. There are no upfront fees and the service is undoubtedly the cheapest on the market. Furthermore, it typically only takes a day or two for your currencies online to reach its destination. This is because OFX is an international money transfer and currency conversion company that also allows you to send money abroad. Because Palau uses the USD, OFX is a great choice in general.
The main drawback to OFX is that it carries a minimum transfer size requirement which is significantly higher than any of the competition. Despite this, their rates cannot be beaten, particularly when you send more money at once. The more money you send through OFX in a single transfer, the cheaper the transfer becomes.
If you don’t like the minimum transfer size requirement, TransferWise offers a similarly cheap deal.
The easiest way to send currencies online to Palau is through Payoneer. With Payoneer, you can choose between one of several money transfer methods to suit your needs. We recommend you use Payoneer to send cash online to the recipient’s debit card, which offers greater convenience and security when compared to other methods. With this method, the recipient can withdraw the money right away upon the transfer’s completion. You can also opt to send your Payoneer balance to the recipient’s bank account if that suits you better. Keep in mind that Payoneer is a diverse and adaptable method for holding money and sending it abroad. Feel free to find out more about the services they offer and how they may suit your needs.
OFX offers you the overall best way to send cash online to Palau. OFX offers you the best-rounded option for sending currencies online to Palau, especially where cost is concerned. OFX has a very low cost, 1-2 day wait times, and their platforms are easy to use, making OFX good enough at everything you need in a money transfer service. When it comes to the rates you’re paying, if you send a large amount of money at once, you can be sure you’re getting the best rates by a large margin.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com