How International Money Transfer Reduce Cost Paid by Expatriates?

Sending money to Gambia and other countries is made simple and efficient through Electronic fund transfer (EFT). It is undeniable that it can be effective in any environment, including medical practices. Owing to various misconceptions about the procedure, costs, and overall protection involved, several providers have been reluctant to make this choice accessible to patients and providers. However, a closer examination reveals that this form of money transfer is exceptionally advantageous to the entire economy.

How can we categorize electronic fund transfer?

Electronic fund transfers come in various forms, some of which customers and business owners use on a regular, weekly, or monthly basis. A critical difference in EFT banking is whether or not the transaction required human intervention to complete, and this is the costliest process.

The following are some of the most popular EFT payment forms and applications:

  1. Online money transfers to Gambia and elsewhere, pay invoices, bills, and workers electronically via payroll systems with direct deposit.
  2. ATMs enable you to make electronic withdrawals, deposits, checks, and transfers between accounts.
  3. Debit cards: You can use your debit card to make transactions online and in stores, pass money between accounts, and pay bills online.
  4. Make significant, infrequent transactions (like a down payment on a house) easily and electronically with wire transfers.
  5. View and pass money, pay bills electronically and download financial statements using online banking on your phone or computer.

What Are the Advantages of Electronic Funds Transfer?

The payment process is simplified, which saves time.

  • Convenience: Send money to Gambia online from the comfort of your own home.
  • Cashback and discounts help you save money.
  • Safe and sound
  • 24 hours a day, seven days a week
  • Control of cash flow
  • There is no need for paper.
  • Quicker
  • Pleasant to the consumer
  • Banking at any time and from any location
  • It aids in customer satisfaction and loyalty.
  • Effective
  • There’s no need to be concerned about failure or destruction after the money transfer to Gambia or other parts of the world.

All accept it.

  • Last but not least traditional branch banking is made obsolete.