Many people in this age of globalization work away from home and in different countries. Also, more and more businesses dealing with their counterparts in an altogether different country. Swift money transfer is now what everyone needs to do business or for remittance. Despite the ease of money transfers, people still prefer to use bank for their remittances or business transactions even though the banks charge astronomical fees and exchange rate that are above market rate. The matter of fact is banks are not specialist in currency exchange and hence charge their customers more.
The advancement in IT has made online transfers quicker and in some cases in minutes. Also, now online money transfer is safer and secured than ever before. For instance, among the currency exchanges in Dubai, GCC exchange has their own WebTT application so that their customers can send money online through their website. The registration to payment to the recipient can be done in four easy steps and thus will save on the time and energy to walk in to a nearby outlet. The exchange rates as shown during adding the beneficiary will be transferred once the payment amount is transferred to any of the exchange’s bank account listed in the website.
Some of the benefits of online remittance services are listed below:
- The pace at which the money is transferred can be within minutes to a day and that too within in the comfort of one’s home or office.
- The money can be transferred directly to a bank account via the online banking feature of the bank where the amount is held.
- These online remittance service website or applications are easy to use and secure money transfer.
- They being specialist in dealing with currency exchange would offer the best exchange rate compared to any high street bank.
- Customer service is available mostly 24 hours a day, 7 days a week.
- These websites are built with utmost security concern for the financial data of their customers.
- Money transfer companies have a team of experts who keep a track of the developments in the currency market and alert of the time best to remit.
- Online account will save all transaction history.
- There are no hidden fees charged by these companies.
By using an online money transfer service, one can send funds from any part of the world with a secured internet connection. Whether they are meditating with the monks in Tibet or cage diving with great white sharks in Cape Town. One does not need to drop everything they plan to do and spend a day in a foreign bank. It is important to balance life while away from home country and should not let their money lost in between. There are a plethora of companies trying to skim fees and commissions off the top so it is important to choose a reliable money transfer service. Before choosing any online remittance service, make sure that they serve the country where the money is to be transferred.