How to Pay Overseas Mortgage Payments

If you need to pay mortgage payments overseas, you have several options. Long gone are the days of postal snail mail, thanks to the internet and other technological advancements.

Business Transfer Money Service: PayPal

Businesses typically use PayPal to send invoices and collect payments from clients for online purchases. It is highly likely that your mortgage loan company offers an option to pay online since it is a business.

Since businesses nowadays use digital receipts, instead of wasting paper you should utilize an online paystub maker to create your paystubs. Not only will this save you time, but will also save you effort and money since you won’t have to hire a professional to create your paystubs generator.

Overseas payments may take a couple of extra days to arrive because it won’t transfer as fast as if you had made the payment to a domestic bank. Therefore, plan to make the transfer at least seven days in advance.

Before you make your decision, weigh the cost of the low fee against the cost of the exchange rates. This will help you determine the true costs of using PayPal to send payments overseas.

Consumer Transfer Money Service: Xoom

To address the money transfer needs of individuals, PayPal acquired Xoom. Matter of fact, it has specific steps on how consumers can transfer money internationally. You can pay bills on Xoom if the country accepts Xoom bill payments. Think of “overseas” locations as any country where you would need a passport.

Currently, the international countries that use Xoom are:

• Costa Rica
• Colombia
• The Dominican Republic
• El Salvador
• Guatemala
• Honduras
• Mexico
• Nicaragua
• Panama

Policies change sometimes, so check with Xoom to confirm that the country where you need to send a payment is still available or if new countries were added.

Currently, if your mortgage payment is more than $3,000 USD, you’ll bypass the minimum USD transfer fee.

Wire Transfer: Bank

Another way to send money, particularly large amounts of $10,000 USD or more, is through a bank wire transfer. It’s less worrisome than wondering if your check will make it overseas safely. Know that the receiving bank’s processing times may vary and take a few more days to complete.

A few special security rules are in place, and both sender and recipient must adhere to them before a wire transfer is made. Having a bank account is mandatory, of course. They’ll also want to confirm residential addresses and identities.

Transfer Money Service: Western Union

You can transfer money to your mortgage lender’s bank account with Western Union. You can also choose how to transfer money in three ways: online, mobile app, or in-person.

Other than bank transfers, you can use cash. If you desire to use your debit card or credit card to pay your mortgage overseas, that’s fine too.

The main difference between Western Union and other payment systems is that you have the ability to skip a bank altogether and pay with cash.

Fifty countries have Westen Union locations, so check if your mortgage lender accepts payments in one of those countries first.

Sending your mortgage payment internationally is easier nowadays. Financial institutions and transfer money services are working together to help you send and receive money safely and right on time.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

ALEP Welcomes the Next Stage of Leasehold Reform

But warns an increasingly complex legal environment impacts on both consumers and professionals In a further stage of leasehold reform, the government has announced a consultation (Strengthening leaseholder protections over charges and services) on service charge and buildings insurance transparency, litigation costs and regulation of managing agents. The consultation period runs until 26 September. The…
Read More
Breaking News

The Sun Continues to Shine on UK Construction

Glenigan’s July Index shows the industry continuing to bask in the glow of better performance Work starting on-site increased 49% during the three months to June, remaining 25% above 2024 levels Residential construction starts rocketed 76% compared to the preceding three months and rose 64% against 2024 figures Despite ending 3% down on a year…
Read More
Cozy Pet Cat Tree Grey
Breaking News

Tenants with pets must pay extra damage deposit

The House of Lords has backed an amendment to the Renters’ Rights Bill to require tenants keeping pets to pay an extra deposit to cover any damage to a rented property. The Renter’s Rights Bill, which is currently going through the House of Lords, will allow tenants to request to have a pet, and landlords…
Read More
Rightmove logo
Breaking News

Enhanced lettings leads from Rightmove to integrate with agent CRM systems

The UK’s largest property platform Rightmove, is rolling out a significant update to its enhanced leads feature for lettings agents, by integrating with agent CRM systems. With Rightmove’s enhanced leads feature, enquiries from prospective tenants come pre-qualified with additional information, helping busy letting agents to find the right tenant for their landlords quicker. This includes…
Read More
small house bird box
Breaking News

Downsizing out of debt

The best way to become debt free in retirement The latest research from over-50s property specialists, Regency Living, reveals that over-50s can release themselves from financial debt, and all of the physical and mental health issues that can bring, by choosing to downsize to a park home. Financial debt is a common yet difficult burden…
Read More
Breaking News

UK Property Market Bounces Back After Stamp Duty Slump

The latest research from GetAgent.co.uk reveals  that the UK property market has already bounced back from the momentary slump that followed the expiry of the stamp duty holiday at the end of March, with transaction volumes climbing 42% in May, reversing a sharp -66% drop in April. The research from GetAgent.co.uk analysed Gov data on residential transaction…
Read More