Why online money transfer is a better option as compared to traditional money transfer?

Are you sending money online, or are you still using the traditional way? If you are still torn between these two sides of choices for sending remittances to loved ones living across borders, we are here to help.

Courier or postal services are all not good options to send money to Uganda from the UK. They may be a lot cheaper than the other remittance channels, but the price isn’t worth it. Postal services don’t give protection for the cash packages the way online formal remittance services do.

If you want to send money to Uganda from the UK or any other part of the world, you must be cautious of the services you are getting. Your hard-earned money might get lost or stolen when it is being shipped, and it also takes a long time for money to reach a location in this way.

 

Hence you should know the benefits of online money transfers:

  • Fast and easy transactions

Send money online from any place and at any time with only a few clicks on your tablet, laptop, or mobile phone. No need for the paperwork for your recipient. No need to fill up the forms and show your IDs.

  • Quick money transfers

Most of the online money transfers to Uganda are sent in one day, suing Xoom money transfer or ACE money transfer. Therefore, it is ideal for sending money when you are in situations of emergency.

  • Cheaper

These services are a lot cheaper except when you pay the debit or credit card using Xoom, and the receiving amount is in US Dollar

  • Remittance status tracking

When you are making money transfers, you always want to be updated about the status of your money transfer. This is because they are sent to the sender and receiver in online remittance transfers, and both ends remain updated about the location of this money.

 

  • Greater security

Money transfer websites have security features that include data encryption and the two-step verification process. A few E Transfer services also need bank codes and swift codes to ensure that you are sending to the right bank in the Philippines.

Both traditional and online money transfer services for money transfer to Uganda and other parts of the world come with their pros and cons; hence you must weigh them super carefully. Therefore, before you start moving on with any one of these channels of remittance transfer, you should be aware of which one suits you the most.

You may also consider switching from one channel to another based on circumstances such as when your internet service is not working or when the exchange rates are favorable. This is also true when you need to send money fast for a financial emergency back home.

The traditional methods of sending money will be a lot more expensive in general than online money transfers. Remittance fees may go as high as USD 20 for sending the money to the Philippines in minutes. The slow money transfers and not being accessible at all times are other drawbacks of traditional money transfers.

 

The traditional methods are also prone to fraud as a few pick-up centers need only the control number for getting the funds out. If any scammer gets access to a control number, he may easily claim your hard-earned money.

But when you decide to send money to Uganda online, you get so much freedom to enjoy the fast arrival and departure of money. Moreover, you may feel the perks of technology when you transfer a huge amount of money from services such as ACE Money Transfers.