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Sending money online is one of the most unsettling things a novice remitter will probably ever have to do, but once that bridge is crossed its hard to ever think of a world without the convenience of online money transfer. Our top money transfer comparison experts have come together to bring you 3 top tips for how to send money online quickly and easily .
Looking around for the best exchange rates for your money transfer is crucial. Unlike your regular weekly grocery shopping an apple isn’t going to be the same everywhere you go. You need to know which money transfer provider is best for your corridor (the point you are sending from and sending to).
How can I know which money transfer provider is best for my corridor?
That’s where the comparison part comes in. Money transfer comparison specialist such as SendThatCash can provide you a clear breakdown of which provider sends to that country and even a breakdown and fee’s. Once you’ve done your search you will be able to sort and filter and the top best for your criteria will usually be best for you.
These tools are extremely useful for remitters who send money in irregular amounts and to various locations. In these circumstance it is difficult to know what the best rate is currently and would be exhausting to do research every time.
Know Your Money Transfer Provider
Having a look around for different providers is usually a task for someone beginning their journey through a cold search, typically someone who either doesn’t send money regularly or someone who frequently sends to many countries. If you are someone who is experienced in sending money online and would like to find the best possible rates, then you’ll probably use one trust worthy provider. If this is the case, you will need to find out what your trusted money transfer provider is offering. Are they offering you the best rates? And where are their fee’s being applied?
Many people think that because they found one great deal on a money transfer and they must have that same deal every time. Unfortunately, this is not always the case. It is an illusion many people fall under. Our online money transfer experts advise that you should always get the best from your provider and see if they can give you a better rate. If possible, you should also consider being flexible on the amount you wish to send as it can potentially effect the rate you are getting.
More is not always better
We end with the most important our experts have to offer; more is not always better. When you are sending money online, sending more money with a provider will not always guarantee you get a better value for your money. Online money transfer providers deliver a service which is quick, easy and requires little contact from the remitter, which makes their service streamlined. If a sender chooses to send a larger amount (typically above 5 - 8K) additional checks will be necessary to adhere to government compliance. With this is mind the provider will apply a higher transaction fee and exchange rate as they will need to assess the validity of the transaction.
“What can I do to resolve this?” you ask. The solution to this is to move from sending money online to going with a foreign exchange broker who handles larger sums of money for transfer. Foreign exchange brokers cater to an industry which is not streamlined and every transaction is handled by a physical account manager.
If you were to send money overseas for buying a property, then choosing to send your money online would not be your best option. However, if you were to go on holiday to see family and needed some money on arrival, then sending travel money online to family members would be certainly be the better option.
We hope we have enlightened you on the how-to for sending money online and hopefully given you the tools to make better decisions. If you have any question we are more than happy to answer them. Direct your questions towards our info mailbox at firstname.lastname@example.org
Vorto Trading partners with SendThatCash for foreign exchange comparisonTue, 02 May 2017 - 12:32 AM