WHY IS COMPARISON OF DIFFERENT MONEY TRANSFER SERVICES NECESSARY?

send money to nepal

There are a lot of ways of transferring money abroad. Some of these are old and traditional, while some are modern and emerging. But methods for transferring money are quite different in terms of cost and services.it is necessary to compare the remittance before picking up any money transfer services. Once you are done with remittance comparison, there is a need to find out what you can get from the money transfer service, what they offer, and what options are available for you.

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Bank wire transfer

Bank wire transfer is an excellent way to transfer money either online or in person. It is like an electronic transfer of funds between two banks if both persons (sender and receiver) have a bank account. Banks are safe to send money to Nepal and other desired countries. But the fact is that they charge high transferee and offer high exchange rates.

Interbank transfer

In this case, the sender and receiver living in two different countries must have an account in the braches of the same bank in two different countries. If both statements are in the same currency, then there would be less trouble. You can quickly transfer money to the receiver bank account without paying the bank fee.

Platforms for online payment

You can quickly pay money instantly using a smartphone or a computer. You can quickly transfer money using email ID or the phone number of the recipient. Online money transfer service is the most popular these days. It is because no paperwork is required, and no banking information is required. If you want to transfer money from an online account to a bank account, it may take some time, and you may also have to pay for it.

Money transfer operators

This is the method for those who want to send money instantly, and the recipient is also in a hurry. If you do not have internet or online account, then this is for you. You can contact the nearest agent or the company to get an online money transfer service. You can pay money to them, and they transfer this money to another branch situated near the location of the beneficiary. So the recipient can easily collect it from that branch or the agent. It is not cheap as an online money transfer, but some companies are trying to reduce the transfer charges.

 

Currency exchange service providers

It is a modern way to transfer money internationally. If faster as compared to other methods and allow you low-cost money transfer. Using this method, you are not affected by the fluctuating exchange rates offered by banks. You need to set up an account for availing this service, and it may take some time.

Final thoughts

Online money transfer services are best to consider, and it would be better to prefer ACE money transfer services. Using their services, you can easily send money to Nepal online and other countries also. You will surely love their services.