Almost 684$ billion has been transferred internationally in 2019, which is three times than the international funding of any country. The countries such as Gambia are not developed yet, thereby a huge number of migrants are working in other countries, with stronger currencies to take care of their families and households. These migrants often have to send money to Gambia on a monthly or weekly basis. Hence, it’s vigorously significant for them to critically analyze the factors affecting online money transfer service carefully.
Many expats may consider using credit or debit cards to send money, but due to inadequate information about policies, they have been noticed to be unable to do so.
How to Send Money Online to Gambia?
Here are some key points, that may help you in determining if a credit card money transfer is recommended or not.
· Age factor in Money Transfer
For using a credit card to send money overseas, your age should be 18 or above.
· Source of Income:
The person should have a permanent source of income, otherwise there will be delays in payments and the sender will have to pay extra service charges due to that.
· Paying Bills at Time:
As mentioned earlier, it’s necessary that the person pays for his/her bills on the proper time. If the deadlines of billing statements aren’t met, then it may result in extra service charges. Other than that, your credit rating drops and there will be fewer chances for you to get any financial benefit from your bank.
· Afford budgets:
The person using a card should be ready to afford some extra charges. No doubt, transferring payments through plastic is a lot more convenient, but it needs the people to spend some extra bucks too. On the other hand, if a person is earning hand to mouth, then he/she must avoid using cards for sending any payment overseas.
· Credit Rewards:
Many of the people are eager to earn rewards on their credit cards. Different cards and banks provide different benefits such as discounts, shopping vouchers and other attractive packages to their customers. Hence, if a person is eager to earn more rewards on his credit card, then he should use them to send payments internationally.
· Separate Transactions:
Many people keep their personal transactions separate from business or official accounts, for different reasons. In such situations, using a credit card is very beneficial as it doesn’t mix up your bank transactions with the specific money transfer.
· Flexible Cash flows:
Different overseas Gambians, who want money transfer to Gambia, use cards transfers for keeping their cash flows flexible. It helps them to avoid any extra complications, as card transfers are happily accepted in every country of the world.
Trusted companies such as ACE Money Transfer can help individuals in sending their payments securely, along with optimized exchange rates, by using a credit or debit card as per the customers’ feasibility.
How To Send Money Globally, If The Recipient Does Not Have A Bank Account?
According to research, almost 1.6 billion adults stay unbanked throughout their lives. This ratio is higher in Asia, with unbanked adults. Although, the governments of different countries are trying to make people aware of the importance of bank accounts, still, there are many people who have not clearly followed all instructions.
Other than the domestic unbankers, there can be several other possibilities of not having a bank account. For Instance, if a person has recently moved-in to Gambia, and he has not got a bank account yet, but due to some reason, if you have to send money to Gambia online immediately, that’s when you’ll face some problems. Well, in that case, here are some tips that can help you in doing so.
Transfer to Mobile Wallets:
Due to increased modernization, now everyone has a mobile wallet that can be accessed by sitting in your homes, relaxedly. Many money transfer companies allow their customers to transfer money online to the recipient’s mobile wallet. After that, the receiver can withdraw the payment from any nearest withdrawal location. It is also one of the cheapest ways to receive money as by using e-wallets, you do not have to pay any withdrawal costs. However, this service is not readily available in all countries yet.
How to Send Money Online by Using a Money Transfer Company?
Different money transfer companies and agents do not require one to have a bank account. You just have to tell some basic details about the recipient and he can simply collect the cash from any nearest payout location. ACE Money Transfer is also an efficient money transfer platform, with extensive payout locations, all over the world. You can use their system for online money transfer to Gambia safely.
Opt for The Door to Door Money Delivery:
Ask your IMT provider about their door to door money delivering facilities. It may cost you a little bit more, but it is also an efficient way to safely send your money to the recipient and he will not even have to step out for taking that money. Moreover, it is a very safe medium as the cash is sent totally the company’s responsibility.
Can You Send Money by Post?
The old school method of sending things through the post is still available. But there are some reasons, why this option is kept at the last of a list. Firstly, it is a slow process and can take up to 20 days. Secondly, this isn’t a safe option. If anyone else takes your money from the postbox before you, then you may never find your payment again.
Hence, if you have to transfer money to Gambia online a person without any bank account, then you do not have to worry anymore. Many service providers can help you transferring your money by using their account, e-wallets, and cash delivery to the door of the receiver. Many other methods are also available, such as Giropay and Bancontact.