Different options to send money online globallyBlogger User August 26, 2019 0 COMMENTS
So it is the time when you have to send money online, but the person to whom you have to send money is living in some rural area with fewer facilities to receive the money, or if the options that are available to send money quickly online is very expensive. No doubt, that people today have less options to send money to the different parts of the world, and as the destinations change so does the options to send money globally. In other words, if you see any affordable options to send money to one country, then it is very rare that you will find the same service for another country at the same affordable rates. But there is nothing to worry about because all you need to do is to perform a little research at your own end.
All possible money sending options
First, you should check for all the possible options that exist to send money to a specific destination, i.e. you have decided to send money to Brazil, and now check for the possibilities through which your money can get received over there. So first, there is Wire Transfer that is one of the most common options used by people for international money transfer. The common word used for this process is Swift, and this process was introduced by seven huge banks around the world with a mutual inter-link in the 1970s. At that time, this process was convenient, but with the changes in technology, this process became a past. The major negative point for this process of money transfer was for both parties to have a valid bank account in perspective countries.
And without a bank account, it is not possible for the sender to send money, and for the receiver to receive money. But there is another way as well by which receiver and sender can send money without using any bank account. This process is named as Remittance, and in this method of money transfer, the sender just has to provide the information of the destination, and the amount of money to be sent. And as a result, the bank or Remittance Company will provide you with a code that you have to provide to the receiver.
And then that receiver will send the same code to the receiver. Now the receiver has to provide that code to the bank or Remittance Company around his place and the money will be received without any problem. But a newer problem arises due to this, that now this service was used in criminal activities, as no record was kept for both parties. But now things are not same, as now internet and cell phones have become one of the common modes to interact with anyone around the world, and the same technology is used to send money to the people around the world. Besides several other methods have been introduced as well, including online money transfer companies. And these companies like ACE Money Transfer, MoneyGram, WesternUnion, PayPal, and several other similar brands. And all of these companies use the latest technologies as the mode of sending money.
Selection of money transfer service
Now you might be thinking that the problem is to select the single company in so many options. Well, this problem is also solved with the limitations in the provision of their services. Suppose if your destination is to send money to Pakistan then ACE Money Transfer, and several other money transfer services are providing their services in this country. But PayPal is not providing their services in this region. So first, you need to select the destination, and then check for the availability of different money transfer companies in that region. Now once you have selected the destination and the service, then also check for the services and facilities provided by them.
Research Well for money transfer
Despite their attracting names, you cannot trust any company blindly. So first, of all get a list and keep getting it short on the base of different factors. Like their availability status in that region, because it is not necessary that the receiver lives in a city or town. But instead, he can also be in a rural area, and to make sure that the company provides their services in each and, every corner of that country is necessary. With the availability, the process of withdrawal of the money is the next step. Several companies are using the same old modes of payments, with the addition of paperwork. And they will get several papers signed before they hand out money to the receiver. Of course, no one wants to go through several steps of verification just to receive the money.
But that does not mean that every single company follows the similar process, but actually, there are several companies, that simply require a single identification card, and within next few minutes, the money will be in receiver’s hands. And these are the companies preferred mostly. Now comes the real
thing that people see while sending money, and that is the transfer fee. You must remember that higher the brand more will be the price. And if your intentions are to save your money in this process, then research well for this purpose. Now you might be thinking that why only this part requires deep research and answer is simple. Several companies keep this price as a secret, guarantees zero commission transfer, and this is one trick to gain the attention of their customers.
Zero Commission Fraud
But always remember that no such thing as zero commission exists in this world because this commission is the only thing that helps their business to keep running. Now your only purpose is to find out their hidden charges, which is not a very tough task. All you need to do is to inquire a little from them, and they will provide you with details of each and, every amount of transaction that you wants to make. Once you have gathered all the necessary information then it becomes easier for you to shortlist the better company like ACE Money Transfer.
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