Whether you need to send money abroad for business transactions or personal needs, having a reliable service provider saves you a great deal. With the many international money transfer services available, you need to consider several factors to select the most suitable.
Things To Consider When Choosing International Money Transfer Services
Security and Reliability
Security and safety of your data and money are vital in international money transfer services. An unreliable operator compromises your financial information, which makes your money to be at risk.
You need to look for a reputable money transfer service. The service provider must have proof of undertaking secure international money transactions over the years. If you plan to transfer money regularly, start with a trial transaction. That way, you can check the variables involved and service quality before the actual transactions.
Speed
Time is of the essence when sending money internationally. There might be an emergency that needs urgent funds like a medical emergency, finalizing an investment deal, or paying university fees. The recipient may incur hardships in case of any delays. Therefore, the international money transfer service you choose must be fast, efficient, and up to standard.
With the boom in digital technology, international money transfers providers can offer instant money transfers to various destinations globally. That way, receivers get their remittances as quickly as possible within a convenient time.
Transaction cost and transparency
The fees you will incur when sending your money abroad play a vital role in choosing the service provider. The best operator allows you to send funds at a cheaper cost but guarantees transparency.
The operator should be transparent about the total charges you will incur during your transfers. It is discouraging when you know there are zero transaction costs and later discover that you are losing a lot of money through hidden charges. Do your research on Google to find out the inter-bank rate in currencies. Compare it with what your service provider is offering to know the mark-up percentage.
Customer service
The money transfer operator should make you feel like a king. That’s because the customer experience you get determines whether you will continue to use the service. You need to receive excellent service from the first step of inquiring to when you complete your transaction.
Convenience
The medium available for sending money abroad must be convenient for you. There are reliable providers with mobile apps that enable you to do your international transactions at the comfort of your sofa. Also, consider a medium where you can send funds instantly, and the receiver gets them anytime, anywhere.
Exchange rates
Exchange rates continually fluctuate, making it challenging to identify the best. Secure a service provider with pocket-friendly rates. That way, you will get value for your international money transfer. Also, spending a favorable rate on large sums of money makes you save significantly.
Why Use Lycaremit For International Money Transfer?
- Lycaremit from Lycamoney Financial Services Ltd helps transfer money to more than 50 countries faster and easier.
- Lycaremit provides the best exchange rates available to help immigrants, expats, students, and businesses to send and receive money Quicker, faster, safer, and cheaper. Lycaremit is the best choice to send money to your family, friends, and love ones around the world
- Lycaremit can help you send money to more than 60 countries including Africa (Senegal, Nigeria, Ghana), Asia (India, Sri Lanka, Pakistan, Indonesia, Thailand, China, Malaysia, Singapore, Vietnam) and Europe (27 countries)
- Lycaremit has secure connections across the entire world. Therefore, you can send money to almost every country globally.
- They guarantee safety and security of your money and personal data. Every time you use Lycaremit, your money is under protection through super-secure RSA 256-bit encryption.
- You can download Lycaremit mobile app on Google play and app store.
Conclusion
When sending money abroad, you need a reputable money transfer service that guarantees safety of funds and financial information. It’s quite a challenge selecting the best because of the many options available. However, through adequate research and considering the factors above, you will find the most suitable international money transfer service that will meet your financial needs.
