When it comes to money transfer, most of us usually wish for making the transfer conveniently and with minimal charges. Today we will tell you about some of the internationally recognized money transfer experts that we think you should follow.
Jens Bader – Secure Trading CCO
According to Jens Bader, many people regularly transfer different amounts of money regularly. He says that it is one of the most important things that they do on monthly basis. He also believes that in times of crises buying food, shelter and medicine for family can ‘literally’ be a situation of life and death for some people. He also highlighted the unfortunate fact that most of the people carry out crucial transfers like remittances through ‘intransparent’ means rather than more established and proper channels and there are some who still use post service for sending and receiving money. However, he also believes that the rapid advancement in technology is burying it’s roots in this field too. He marks this advancement as ‘an opportunity’ for the transfer companies to progress and make the experience better for their customers and the economies of their respective countries.
Dominic Thorncroft – Association of UK payments institutions
Dominic said in an interview that people get very frustrated when they are unable to send money home, where it might be needed the most. He gave several possible reason for this issue which mainly included the delays in the transfer due to technical problems or unestablished or courpt company administration. He also said that the companies have done very little to solve this issue and thus, the customers are now disappointed and not willing to switch to digital transfers. This has disappointed and repelled customers from digital transfers. Most of the people are now preferring to send money in cash.
Leone Issac – Developing Markets Associates.
Leone’s message is that sending money by post is alright until it’s a £5 gift card. According to him, when it comes to massive international business transfers, this method is totally unfeasible. Just like Dominic, Leone’s highlights the failure of companies in improving their digital infrastructure. He said that the majority of people are preferring cash to cash sending of money over digital means. He also suggests that the opportunity of strengthening the e-transfer so that not only will people send their remittances without being frustrated and worried but the companies can earn a lot of benefits too.