People need money transfer services if they do business, or they are living away from their family. It also can be for educational purposes. We are living in the modern era, and the traditional ways of transferring money are not preferred anymore, like visiting banks or post offices. With the advancement in technology, we have several convenient methods for transferring money. Using these ways, we can transfer money not even nationally but internationally also. You have so many options that it is very difficult to pick up the right option for you. So here are some suggestions for making the right choice for you.
What are the collection options?
Not every person has a bank account. So if you are going to send money to a person who does not have a bank account, prefer those service providers that can make funds available in the form of cash. Before considering any money transfer service, make sure to check the collection option they have for you.
What are the payment options?
If you are a sender, it is the most important thing you need to consider. If you have a bank account, prefer those companies that can transfer money using your bank account. But if you don’t have an account and have money in cash, prefer those service providers that can receive payment in cash. Companies these days also have promotional codes and other deals for you, you can consider them also to send money to Ghana and other countries too.’
What are the transfer amount limitations?
Before making a transfer, gather information about the minimum and maximum transfer amount limit. After knowing this, you can decide whether this service is cost-effective for you or not. Some companies also allow you to transfer money as minimum as one dollar. Never prefer those companies that charge you a high transfer fee for sending huge funds.
Banks are not a good option
According to an estimate by the World Bank, people pay 6 to 8 percent of the total amount of transferrin fees. This is about 60 to 80 bucks on the transfer of 1000 dollars. So, sending money abroad via bank is the most expensive way. According to the World Bank, it was concluded that most of the banks charge ten percent of the total amount on average. And this is too much. So preferring a bank to send money globally is not a good option.
After considering all the above information, you can choose the right service provider company for yourself. The most important thing is to consider exchange rates and deals offered by your service provider company. It is recommended to prefer ACE Money Transfer services for convenience. They provide you with the best services and transfer your money abroad securely and quickly. They even do not charge you hidden fees. They have a convenient website and mobile application for their customers. Try their services, and you would not regret it.