Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: MONDAY, May 2, 1994                   TAG: 9405030008
SECTION: BUSINESS                    PAGE: 8   EDITION: METRO 
SOURCE: MAG POFF STAFF WRITER
DATELINE:                                 LENGTH: Medium

HERE'S HOW TO GET CASH TO SOMEONE - REAL FAST

Or maybe an uncle calls from Denver because his family is facing a sudden emergency. He wants to borrow $1,000 right away to solve the problem.

Many of us, at one time or another, will be asked by a relative or friend in another city or state, or even another country, to send money, fast.

Generally, an emergency requires rapid action. If not, you have time to send a check, or perhaps a bank teller's check, to the other person. In an emergency, however, you must get the money to the other person quickly, and neither of you has thought about a way to do it.

Getting money to someone fast will cost money, however, and the other person must make arrangements to pick up the funds.

As a general proposition, you have three ways to get money across the country rapidly: through your bank during office hours, through a wire service such as Western Union and by an agency such as American Express.

Western Union offers a time-honored method of sending quick cash. Anyone with a Visa or MasterCard can use the telephone to send money by Western Union. The phone number, which is in the telephone directory white pages, is (800)325-6000. An alternative number is (800)225-5227.

If you have to post the cash, instead of using a credit card, you must go to a Western Union transfer station. A spokeswoman for Western Union said those locations in the Roanoke Valley are at Kroger supermarkets, Parcel Express on Franklin Road, Southern Pawn Shop in downtown Roanoke and Interstate Motor Truck Rental on Cove Road.

Those are the same locations for someone in Roanoke to pick up money sent here from another city.

Western Union said a transfer station may not always have sufficient cash on hand to pay out the full amount of a large amount of money sent from another city. Up to $500 is usually no problem, she said. If the outlet has insufficient cash, someone there will write a Western Union check that is readily negotiable as long as the recipient can prove his or her identity.

The cost of sending money in this manner is high.

The price depends on the amount of money that is transferred. The Western Union spokeswoman said anyone sending cash of $400.01 through $500 must put up another $40 as a fee. The same amount sent by credit card carries a fee of $50, which is added to the credit card amount.

If you use a credit card, remember that the outlay will be treated as a cash advance. This may carry higher interest than normal purchases, and it may be billed (and interest charged) instantly. Keep this expense in mind when you tally the cost of sending money by credit card.

An American Express "moneygram" is another alternative. The telephone number, (800)926-9400, is in the telephone directory Yellow Pages under money order service.

You don't have to be a credit card member of American Express in order to use the service.

The company will accept orders by telephone through MasterCard, Visa and Discover cards for amounts up to $1,000 a week. That is, of course, subject to the cash-advance limits of the credit card itself. There is no ceiling for American Express card holders.

American Express also has a system of local agents to accept and pay out cash transfers. In Roanoke, there are three agents: the Greyhound bus station and two check cashing services at 2419 Williamson Road and 3925 Melrose Ave.

A spokesman for American Express said the cost of sending between $400.01 and $500 to anywhere in the United States is $36. The cost is higher for overseas locations.

Again, remember the warning for interest on credit card cash advances.

Banks are the least expensive alternative, but they have one drawback. You must make arrangements in person during business hours, which might, or might not, help that teen-ager with the broken-down car in Cleveland.

Freda Carper, spokeswoman for Crestar Bank in Roanoke, said you can go into a bank at any time during business hours. You can give the bank cash or write a check against an account at that bank.

The bank can wire money directly to any bank account you choose. That would help your uncle in Denver, but you must remember to get his bank and account number.

You can get money to the stranded teen-ager by wiring the money to any bank in Cleveland. She can pick it up at the bank with proper identification.

Carper said there is a $10 charge for wiring the money out of the local bank. Most banks also charge the recipient at the other end. At Crestar, this fee is $7.

Some final notes:

If you think you might ever be in the position of needing money wired when you travel, be sure to carry suitable identification.

Be certain that the person who will be receiving your wired money understands exactly how and where the money will arrive. Get an exact address for the bank or transfer station. Have the recipient call you back to verify receiving the funds.

Save all receipts and transaction records for billing verification later.