A Money Transfer Comparison
What follows is a report contrasting the four of the major money transfer companies operating worldwide today and their money transfer fee charge for a $300 dollar transfer from New Yory (US) to the Phillipines:

The Ikobo Card System:
This system is a process whereby you debit money on to a special type of Visa card. Money can then be transferred on to this card whilst online. The card holder can then withdraw this money at any ATM worldwide. Their is no formal application process for gaining one of these cards and they are available to anyone which makes them a good idea for those with bad credit ratings. The Ikob card is ordered directly from them and is delivered via FEDEX to anybody you wish in the world that you would like to have access to the money.

The chances of any fraud taking place are highly limited as the card is not directly attached to your regular current account. The card is also used in conjunction with a four digit pin number of your choosing and the card can be filled up within a few seconds via a secure online process.

The advantages of this system are that the cost to load money on to the card is minimal, it reduces the need to carry large amounts of cash about to money transfer agents and the card can be used at a huge amount of cash machines worldwide. Occasionally depending on the country Visa machines may be limited although is fast becoming not the case.

Money Transfer Fee: $14, although you can arrange their value service which costs only $7.00. This system takes up to four days.
 

Western Union Money Transfer: This company offers both online and offline money transfer services. The money can be transferred within minutes but occasionally a confirmation phone call is required to stay in line with certain laws. 

To transfer money Online you will need to supply only personal names of the sender and receiver. The receiver generally needs to supply sufficient identification such as a passport or answer a security question created by the sender. after sending a money transfer control number is issued which is also used by the recipient to collect the money.

Western Union have many physical agent locations worldwide and the recipient can collect money in local currency. No bank account is needed bu money transfers via this system are generally more expensive than other methods.

Money Transfer Fee: $16 for money in minutes!

Xoom Money Transfer Service
This is operated online by simply following the online process of filling in forms. Money can usually be collected hand delivered, deposited into a bank account or even a Paypal account. Payment can be made through all the regular methods, after sending you will be issued with a tracking number which you can then forward to the intended recipient.

Transfer fees are generally lower than other companies and being able to transfer money overseas directly into a US account is also a big plus. On the downside as yet they do not operate in as many countries as other money transfer companies.

Money Transfer Fee:  $14, also avaialble is the value service for just $7.00 which takes 4 days.

MoneyBookers
Again this company operate a similar online system and are also well known for their high level of security.
Post registration you are able to pay for goods and services using only your email and password. This system is available in twelve languages and over 30 countries. The fees are highly competitive and further messaging services are also available. As yet they do not nave mass coverage in the same way as Western Union do.