3 Economical ways of sending money
The advancement in technology drives us towards digitalization as transferring money by cash, bank draft or money order seems like an outdated scenario. These methods are now becoming less famous and everyone is shifting towards digitalization. That doesn’t mean it is the end of traditional methods of transferring money. But if cost is your concern then there are various options for digital money transfers around the world. Let’s have an overview of the 3 economical ways of sending money internationally.
This company is the famous in
remittance industry with its offering in the market. It is a worldwide accepted
company and people show trust in its services.
Legal Presence
Wise is a FinCEN registered
company which is a government-owned regulated body based in the USA that
monitors the work of the companies.
Network
More than 80 countries of the
world are part of the network of the Wise company. People living in these
countries can send and receive money with the services of Wise.
Exchange Rates
The currency exchange rates that
wise gives are not so high or low but remain at a moderate level.
Transaction Fee
Most probably wise defects 2-3%
of the amount as transaction fee but it may vary from country to country and
currency to currency.
Another renowned and top list
country is PayPal which has a lot of users all over the world and works as a digital
money transfer company.
Legal presence
The company is
registered with and has the license to work as a remittance company in multiple
countries. But it is mainly registered in New York financial services in the
USA.
Network
This company has one of the largest
networks with 200+ countries. A wide network in the world allows the most ratio
of people to send and receive money with the services of PayPal.
Exchange Rates
This company is providing its
services at high exchange rates on currency conversion.
Transaction Fee
PayPal is charging a fee for making
transactions with them. For every 1000 Euro, the company deducts 30 Euro as its
transfer fee.
Remit choice is also a worldwide
famous emerging company in the remittance industry. Due to its various unique
features, this company makes its place in the market in a very short time.
Legal Presence
This company is registered and has licenses
from FCA and HMRC regulating authorities from the United Kingdom.
Network
With more than 70 countries in
the network, Remit choice is expanding its services in other corridors of the
world as well.
Remit choice is offering services
of money transferring at the compatible best exchange rates.
Transaction Fee
It’s a cut-off difference for all
companies because Remit choice is not charging any kind of fee and transfers
money around the world at zero fees. And there is no limit on the amount or number
of transactions. Every transfer is fee-free with no limit of amount through
Remit choice.
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