Remittance services worldwide are constantly developing new alternatives for money transfers. Nowadays you can choose a variety of options through which to send and receive money. With the advances offered by apps, mobile wallets and credit card technologies, transferring money through your pc or mobile is now both possible and relatively cheap.
Here are a few of the offers available today in the remittance field:
- Cash to Cash
The old fashioned way still works. Take your cash to a defined location, indicate where you wish the receiver to pick up the money and you are set to go
- Bank Transfer
Transfer fund from your bank account to the bank account of the receiver anywhere in the world
- Credit Card Transfers
Send money to anywhere in the world using your credit card. The beneficiary can pick up the money in cash or have it credited to a bank account
- Mobile Apps
The beauty of mobile apps are that you can credit your recipient’s account from your mobile to his/her mobile within seconds. No need for cash, credit cards or hassle
- Cryptocurrency Transfers
If you have a crypto wallet, you can transfer funds to someone else’s wallet. Again, here you are circumventing banks and bureaucracy.
- Paypal Transfers
It is possible to transfer money from one paypal account to another. Certain restrictions exists depending on your location and/or relationship
As you can see, there is a variety of options from which to choose. And with them come a variety of costs, commissions and opportunities. Money Transfer is here to help you choose the most afordable, reliable and convenient transfer method for your specific needs.
Money Transfer Costs
Although sending funds is easier today than it has ever been, the basic costs have remained the same. Essentially, no matter what system you choose, sending money abroad is a service and that service has a price.
It is important to note that in all options described above money never actually travels. In other words, if for example one would send money to India from Canada. there never is an actual physical transfer of funds. In other words, you are never paying for a physical “transfer” of money. What you are paying for are two essential operations:
- The handing over of money to the beneficiary
- The costs of currency exchange so that the beneficiary may receive funds in the local coin
Many companies will promise different benefits, such as zero commissions, fixed exchange rates (or no exchange rates at all) or lowered fees based on higher transfer values. Yet all these promotions cannot override a simple truth: to enable the beneficiary to receive money, there is a cost. And that cost can only be present in either the commission or the exchange rate and usually, in both.
How to choose the best Remittance service
Therefore, although new technologies have diversified the methods for transferring money, they have neither eliminated nor lowered costs. It is important to note: the costs remain the same. What has changed is the diversity of options you have. That diversity is what allow you, as a client, to get a better price than ever!!
Money Transfer’s mission is to help you select the most worthwhile remittance service. With our expertise and vast web of international partners, we are able to identify and select the best transfer option for you. According to your location, the location of your beneficiary, the currencies involved and the amount requested we will always find the solution that best suits your remittance profile.