Sending money to Gambia through the internet to your beloveds is no more a difficult task. In other words, transmittals are highly needed for a country that exports human resources to another country. Most of the African countries are reliant on it as it is a big portion of these remittances.
If you want to send money to Gambia online or anywhere in Africa, you can always go for online money operations. Money exchange has been dependent on these transmittals and remittances for many years.
If someone wants to send money online, it can be a burden on both the correspondent and receiver due to high taxes and transaction fees. Although bank transfer is suggested to be opt as it is a more well-organized way of transmitting money it demands data exchange involving contact information i.e. cell information and email addresses of both the sending and receiving parties and how much money is to be sent etc. which later is given in the form of note money to the receiver.
Internet money transfer or an electronic payment system enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution’s website.
There are a few modes and types of online financial transaction services as follows
- National Electronic Fund Transfer (NEFT)
- Real-Time Gross Settlement (RTGS)
- Electronic Clearing System (ECS)
- Immediate Payment Service (IMPS)
Available Online Money Transfer Services
Expounding ACE Money Transfer:
ACE Money Transfer app makes it easier to send money across multiple currencies around the world. This service is a more modern way to transfer money to Africa. It might be a bit affluent to send money directly from a bank, so ACE is a better and low-cost way which can send our money there. Startlingly ace also claims of no all-out boundaries or sum to be sent. The additional plus point is, it does not take a lot of time for your money to reach its terminus. It has made money transfer an easy run-through for people.
All you need to do is to;
- Choose a country
- Add your amount
- Add the details of your recipient
- Send money
Advantages of Online Money Transfer
It is recommended by many to go for online money transfer as its easy and the most efficient way because of the following reasons:
- It is convenient
- Improve access to financial services for the poor and unbanked
- Catalyze development of new and innovative financial products for the poor and unbanked
- Instant updates to know the status of money
- Greater online security
- Up-to-date and personalized currency exchange rate alerts
An e-commerce reimbursement system (or an electronic payment system) simplifies the acceptance of electronic reimbursement for online transactions. Also known as a subcomponent of Electronic Data Interchange (EDI), e-commerce payment systems have become gradually prevalent due to the extensive use of internet-based shopping and banking.