Globetrotters and jetsetters take note, there is an easier way to transfer money around the world

For many teenagers, going abroad for the first time as an au-pair or high school exchange student is a big dream, but for their parents it is more like a scary nightmare - especially in terms of money

Cash, credit cards and travelers cheques all come with their own risks and replacing them can become a tedious and expensive process which one shouldn't have to have to fork out for.

Moneybookers, one of the world’s fastest growing online payment systems, has come up with a simple solution; Using its online payment service, money can be transferred quickly and easily to anyone with an email address, no matter where this person is currently located.

The designated recipient does not even have to own a Moneybookers account for the transfer to be carried through, because if this is the case, the recipient will revieve and email alert with instructions on how to set up a free account and claim the payment.

Dr. Nikolai Riesenkampff, Co-CEO at Moneybookers thinks this is a fantastic way to safely transfer money around the world, she said: "Whether you’re running out of cash while traveling through Brazil or you’re ordering a suit from a tailor in Hong Kong, Moneybookers provides real-time money transfers with minimal fees.”

Unlike other money transfer services, Moneybookers offers very low fees and a very transparent fee structure. Getting registered, managing your account and receiving money is totally free and for money transactions between two account holders, the sender pays only 1 per cent of the transferred amount or just 40 pence – whichever rate is cheaper.

So if you're children are heading off on their first holiday without you and you're worried about handing them a wad of cash to run riot with, Moneybookers could be the answer to all of your fears.

FemaleFirst - Ruth Harrison