Thanks to technology and globalization, we’re able to expand our horizons. Instead of staying in the same town for life, we can freely move to other states and countries, whether it’s for our own personal reason or for business.
But with globalization comes some unique problems. For instance, it might be challenging to deal in more than 1 currency. And when you need to send money from one bank account to another, it can get messy.
If you’re looking for a good money transfer service, then read on. We’ll give you 4 great tips to find one for your needs!
- Currencies Handled
Did you know that there are 164 official currencies in the world? While it might be pretty tough (or even impossible) to find a money transfer service that covers all 164, you still need to make sure the one you choose covers the ones you need to use.
Don’t just consider the currencies you’re using now either. If you’re thinking of expanding your business and/or moving elsewhere in the future, you’ll want to consider the possible currencies you’ll use later on.
- Speed of Transfer
Money transfers have a tendency to take some time to complete, especially international ones. Expect that international money transfer service will take some time as well.
However, this doesn’t mean you should accept a snail’s pace for transfer rates. There are companies that offer rates as quick as 1 hour for transfers across several countries, so try and choose one of those if speed is of importance to you.
- Associated Costs
No service is going to allow you to transfer money for free. Otherwise, what do they stand to gain?
So you’ll want to check how much the services charge just to transfer your money. You’ll also want to take a closer look at what additional fees they might have.
Lastly, don’t forget about the exchange rate. Obviously, you want to choose a service that offers you the best rate.
But be careful if they say they won’t charge you for fee transfers. Usually, this means they’ve skewed the exchange rate in their favor to make more profits.
- Extra Services
The best service will offer you more than just money transfers. For example, they might have forward contracts or limit orders. If these things are important to you, then you’ll want to go through their list of features before committing to a particular company.
For a service that checks off everything on this list, check out www.transferly.com.
Choose an Excellent Money Transfer Service
It might take a little bit of time and research. But in the end, it’s worth it when you end up with an excellent money transfer service to use.
So take the advice we’ve given you in this article and apply it when you’re looking for the best money transfer service. You’ll have a much easier time!
To learn more about sending money abroad, keep browsing our blog page!