Complete Guide To Corporate Finance

The Business Finance Guide

 

If you are working abroad, and your family still lives in your home country, sending them money with regularity is probably one of your main concerns. However, when it comes to money transfers, bank policies are not that versatile, and this aspect might cause you inconveniences. Well, you should know that you have another alternative you can opt for, money transfer services offered by platforms such as SendThatCash. Even if you might have never sent money via a service of this kind, after learning more on the topic, you will want to try this alternative for yourself. Here are the pros of choosing money transfer services over your regular bank:

Getting the best exchange rate

Because you are likely to send the money in the currency you are receiving it, you probably want your family or the person receiving the amount to get the transfer in the currency of their country. Well, as you may know by now, during the exchange, a fairly large amount is lost. If you do not want to deal with the high exchange rates of a bank, this alternative is the best answer for you. Usually, transfer services of this kind, if chosen wisely, come with the best exchange rates, which is certainly a convenient aspect. This is the reasons why so many people working abroad have decided to switch to this option when sending money to their families, and why you should follow their example.

Flat fee vs. percent of total

Sending money is not something that comes free of charge, and just like any other service, you need to always pay a fee. In comparison with bank policies, which take a percentage out of the entire amount of money, the transfer services come with a flat fee. Although paying a 5 percent out of your amount might not seem much, it will add up over time, and you will soon notice that you are losing cash you could have easily saved. Some transfer services only charge you a few dollars, regardless of how much money you might want to transfer. Once again, from a financial point of view, this is the wisest choice you have.

Accessible from any device connected to the internet 

Depending on the policies of your bank, in some situations you might not be able to send money from your phone or computer, but instead go to a local office, which can be an inconvenience. Money transfer services can be always accessed online, from any device connected to the internet, making things much faster and easier for you.

As you can see, there are various reasons why you should consider money transfer services over your bank. The offers provided are usually far more convenient and financially wise, and at the same time more accessible. However, in order to truly benefit from the advantages above mentioned, you will have to choose the right online platform, so make sure you do some research in advance, and find yourself the best transfer services.

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