Cash vs Credit Card
Cash vs Credit Card – What should you choose?
As a habit, most overseas workers were used to sending money to their families via a cash payment. There were a few reasons for choosing cash transfers, although in many cases the main reasons were as follow:
- Cost – the notion that sending cash was cheaper
- Availability – The notion that sending cash would make the funds more readily available to the beneficiaries
- Taxation and Immigrant laws – Being that many times cash was available while formal money, credit cards and bank accounts where not always an option
Except that reality has changed dramatically over the years. In many countries nowadays it is customary to allow tourists and immigrants with unclear status to open basic checking accounts and have access to local debit cards at least. Yet more importantly, the mobile apps revolution allow users to add funds to their homeland credit cards while being abroad and thus credit their mobile wallets.
Another major change is the cost effectiveness of credit cards vs cash. With the availability of new technologies, credit card money transfers, whether directly through credit card debits or through mobile wallets are frequently less expensive than direct cash transfers. The virtual transactions, those which do not require actual handling of cash neither at the funds’ location of origin nor its destination are proving to be the cheapest options of them all.
Money Transfer Services
Money Transfer is here to offer a definite answer to the debate between cash and credit card remittance services. We simply find the solution that best serves your interest and connect you with one of our active partners. Through them you will be able to transfer funds paying the least fees, receiving the best value for your money and dealing with the least hassle possible.