Abstract: The present invention constitutes a system and method by means of which individuals living in the United States may transfer money rapidly, securely, and inexpensively to other individuals in a foreign country without the use of an international bank wire transfer. The system is designed to benefit foreign expatriates who have a need to send money to family members who still reside abroad. The system, which is run by a managing company having associates in both the U.S. and in the foreign countries to which transfers are made, employs a network of U.S. based banks and a network of foreign based banks. For a preferred embodiment of the transfer process, a managing company is established to administer the process, the company having at least one agent in the U.S. and at least one agent in a foreign country that is the target of money transfers. Potential transferors are provided with a book of deposit slips which identify an account associated with the managing company at a U.S.