Sending cash abroad

arciere

This is probably not the correct section but I didn't know where else to post it.
My sister (who lives in Italy) recently got married and she and her husband are thinking about going somewhere in the US for honeymoon.
As a gift, instead of giving them money towards the deposit for the holiday, I would like to give them 'real' money to spend at destination (i.e. American dollars, pesos or whatever currency in use where they decide to go).
What's the best way of doing this, if at all possible? Sending cash in an envelope is a no-no for obvious reasons (unless there is some kind of insurance I am not aware of), but I can't think of any other way.

Westie983

Hi,

I agree sending money via the post is not advised, so options I can think of.

1.Send money to your sister so she can exchange into currency
2.Wait till you know where they are going and send that currency to your sister using a foreign payment via your bank
3. Send your sister a prepaid card with the amount you wish to gift to her so she can then use it to purchase anything while away.
4. Travllers cheques in a card (not sure if these are still avaliable but are protected if lost)

Westie983

arciere

I should have mentioned that one of the reasons why I am doing this is that I got married last year, and as a wedding gift she gave us money towards the deposit of our first home.
I would like to do something nicer than the "exchange of money", so even if at the end of the day we will be spending pretty much equal amounts, it won't be seen as "you gave me 50, I give you 50".

eDicky

Advise them to open Revolut accounts with the smartphone app, and you do the same. You can then load some pounds, convert to dollars at the perfect interbank rate (weekdays), and send them instantly to either or both of them. Or variations of currency, timing of conversion when you think rates are good. They (and you) can then use the Revolut cards when traveling anywhere, no fees except 2% on ATM withdrawals over £200/month.

Avoid the £5 cost of the card by signing up via the MSE link (may not apply to non-UK delivery, may need to request fee refund) :

https://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards/