Money transfer to other countries is all about reduced exchange rates and high transfer fee. Preferring banks for money transfer is also not a good option as they provide expensive services. When I moved to the UK for a better job, initially it wasn’t very easy for me. I had to support my family by sending money back to Senegal. Initially, I had no idea how to send money to Senegal.
What I Did to Transfer Money Back Home?
I used a traditional method, but they were costly. Exchange rates offered were very poor, and transfer fees were very high. It was not an ideal way for me. So I searched for some alternative methods. Then I came to know about online money transfer services. Still, I had to manage a lot of things while sending money back to my family. The most important thing was to consider a transfer fee. Here is how I managed to save money while sending money back to my family in Senegal:
How to Consider All Costs?
You need to be aware of currency exchange costs that are applied and recognize them. That is what I did when I had to send money to Senegal online to my family. Then I used to talk to the service provider and never paid for the services I didn’t ask for.
How to Compare Money Exchange Rates Offered by Providers?
Before considering any service providers, I always used to check the money exchange rate offered by the operators and compared it. By comparison, you will know the actual currency exchange fee, based on which you can choose the right money transfer operators for yourself. There are also online tools available that can compare exchange rates for you. These tools can also compare currency exchange fee and a flat transfer fee for you. To be honest, these online tools were beneficial for me for online money transfer to Senegal.
Are Foreign Exchange Brokers Good in Sending Money?
When I had to send a considerable amount, I always considered foreign exchange brokers. You can take services from foreign exchange brokers for exchanging money directly at rates banks pay.
What do You need in Money Transfer?
After considering different parameters of a money transfer service, if you know what you exactly want and when you want to transfer the funds. Only then you can avoid charges for extra services. That is what I had done to avoid additional expenses. Here is what you need to keep in mind while making money transfer:
- What amount do you want to transfer?
- What should be the speed of transfer?
- What payment method should be followed?
For a money transfer to Senegal, it is better to be careful. Only pay for services you are taking form the operator or the company. I would suggest you consider money transfer companies for receiving services. I always used their services for helping my family. Make sure they have a convenient website and mobile application. So you must try their services if you want to enjoy steady exchange rates and low transfer fees. Give them a try, and you will love their services.