Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Sending Money to Family Abroad? The Risky ‘Chain’ of Cash Handovers You Must Avoid
Moneymagpie Team
8th Oct 2025
Whether your university-bound kids are on a gap year or you have siblings who have long since moved abroad, there are many reasons you may need to send money internationally. Sometimes it will be an emergency, other times it may just be a gift or a surprise. Regardless of why you need to do it, there is something that you need to be aware of.
We’re talking, of course, about the risky world of cash handovers and why they should be avoided at all costs.
- What is a cash handover?
- What are the risks of cash handovers?
- The alternative to cash handovers
- Beware of unsolicited approaches
What is a cash handover?
If you have a close friend in the UK who has done a favour for you, you may decide to pay them in cash. You simply draw the money out of the cashpoint, hand it over, and consider the transaction taken care of. The problem with trying to perform the same convenient handover with a friend who is living abroad is that it won’t be practical for you to fly out and put it in their hand. Cash handover services are things you may see advertised online, and they are things we highly recommend you stay well away from.
What are the risks of cash handovers?
The obvious point to make here is that you will likely have no idea who the people are who will physically handle the cash you are sending. It could go missing, it could be sent somewhere else, or it could be stolen. Even if the money arrives in the palm of the hand of the recipient, it doesn’t automatically mean that everything is as it should be. Here are the other risks associated with cash handovers you need to be aware of:
- Money laundering operations will use cash handovers to wash and launder money so that its original origins become untraceable. This is a common method used by organised criminal networks.
- Complex frauds that cross international borders use cash to break up audit trails so that the origins and destinations cannot be easily figured out by investigators.
- A lack of transparency and no online tracking facility means that you may be none the wiser as to where your cash is for an extended period of time
- As well as all of the above, if it can be proven that you have engaged with a criminal financial network, whether knowingly or not, you may face legal action. This can include things such as penalties, fines, and having your accounts frozen pending further investigation.
The alternative to cash handovers
The obvious first port of call for many of us is our local bank; after all, they help us pay our bills and arrange many of our domestic purchases. The problem, however, is that they tend to be slow and inflexible when it comes to moving money between different countries and currencies.
The alternative is to use an international money transfer service that will offer you a secure account and the option to move money however you wish. Key things to consider when searching for such a service include:
- Reputation: Finding a service provider with an established track record is important when you want to secure peace of mind.
- Coverage: Check that the service can help with the locations and currencies that you are working with.
- Cost: Confirm the fees and exchange rates so that you can see the full cost of the transfer.
You will also want to find a provider who never shies away from guiding you through the key details you need to know. Resources like this How Do I Find My SWIFT Code guide, for example, will show you how banks communicate with one another and the details you need to provide. Once you feel you can trust the service provider you are looking at, connect with them to set up a verified profile, and you will be up and running.
Beware of unsolicited approaches
Criminals have become increasingly sophisticated in recent years, with many now possessing a level of online marketing ability that rivals that of legitimate agencies. They will be actively looking for people who have a need to send money overseas and will not think twice about making a cold approach. Finding a message that offers to help you that has come out of the blue may feel like a stroke of luck, but it’s something that you need to avoid at all costs.
Use a specialist money transfer service instead of cash handovers or time-consuming local banks, and you will be able to take care of business quickly and efficiently. It’s a proven approach that people around the world turn to every single day. In fact, a recent study predicted that the market for cross-border money transfers will grow by 57% by 2032. That’s a lot of money being sent around the world that could be at risk with unregulated services.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.
Subscribe
Login
0 Comments
