If you’re living in another country and need to send money to Bangladesh, you may be unsure how to do so. You may have concerns about where to go, how much the move would cost, or which company to use. It can be challenging to find the right money transfer services in the United Kingdom, especially when transfer charges to different destinations worldwide aren’t readily apparent.
Technological advancements have opened up new possibilities for using the mobile phone as a medium for various applications, not just for communication. Mobile money services have evolved and multiplied as a result of the advent of data transfer facilities and the growth of mobile financial services around the world.
Fintech startups (as well as some existing companies like ACE Money Transfer) have been working on platforms and services to sending money to Bangladesh online and worldwide cheaper and faster. These services, though, aren’t one-size-fits-all. The best service varies depending on whether you’re sending money domestically or abroad, as well as which country you’re sending to.
Why Should You Use Mobile Money Transfer Service for Your International Money Transfers?
In many developing economies, the number of people with cell phones exceeds the number of people with bank accounts. In Bangladesh, for example, more than 75% of the population owns a cellphone, but just 31% has a bank account. Many Bangladeshi diasporas in the UK find it easy to online money transfer to Bangladesh through mobile applications. More than half of Kenyans living in rural areas must drive at least half an hour to reach a bank branch. Getting to the bank is also costly: for more than a third of rural Kenyans, it costs about half a day’s average wages. You can hold the bank branch in your hand with mobile money.
Banks and other financial institutions can secure more money and run smoother operations by going cashless. Previously, netizens hoarded large sums of money in the name of ‘keeping it clean.’ Financial institutions that deal with monetary distributions, such as Fintech apps and others, can now run their businesses smoothly.
The advantages of mobile money are various. Businesses benefit from the costs, protection, and time savings associated with money transfer to Bangladesh and worldwide. ACE Money transfer so offering money transfer service to your mobile e-wallet. So, by using ACE Money Transfer, you can get instant payment from 23 sending and 100+ receiving countries worldwide.