If you’re frequently sending money abroad or making international payments online, chances are you already worry about the safety of your money and your rights as a consumer. And while in many cases running to your local bank and transferring the money is not a very suitable option due to the exchange rate differences, you must find other safe and pocket-friendly options in the process. Luckily, there are so many apps and options when it comes to this matter. You only have to pick the right one for you and your needs and concerns. Below we have more details and information on things you should pay attention to when making online payments or transferring money internationally.
What options do I have?
As mentioned in the beginning, you can operate such transfers with your bank, but it is very unlikely for them to offer good rates. Depending on the transferred amount, you can be charged quite a lot. Also, not only you might be charged thousands for transferring bigger amounts of money, but the interval in which your payment is processed might take longer than a week, in some cases.
Another alternative is to opt for a money transfer company such as Western Union, MoneyGram and so on. While the interval it takes these companies to process the transfer is almost instant, the rates are far from being friendly, and in most of the cases, these rates change and vary on a daily basis. Yet again, this is not the most advantageous method which you could use.
Online payment systems and money transfer systems seem to be the best alternative one has in order to operate a transaction like this safely and fast. The rates for international money transfer transactions are fair, with no noticeable exchange rate differences, and there are some notable examples on incredibly safe services like these: PayPal may be the most notorious one currently available.
What should I take into account when sending money internationally?
There are several variables that count when it comes to your experience and the receiving part’s experience when transferring money.
· Tracking – A reputable service like this should have advanced tracking systems when it comes to the itinerary of your money. Luckily, the reputable operators on the market benefit from such features, increasing the security and peace of mind of their clients.
· Support – Customer support services are highly important when it comes to money transfer, so make sure that the solution that you choose has a satisfactory customer support team.
· Speed – Especially when sending money abroad, you want to make sure that that money will reach the destination in a timely and transparent fashion.
Are there any tips that will help me?
Obviously, experts can always provide valuable tips and tricks. Maybe the most important one is to search for a company or service with an amazing customer support team. Next, come the fees practiced by these operators. You want to search for those with low fees and good exchange rates. Also, you want to remember that if you want to operate an interbank transfer, you will probably end up paying more than you settle for.