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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in technology drives us towards digitalization as transferring money by cash, bank draft or money order seems like an outdated scenario.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.

    Wise

    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.

    PayPal

    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

    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.

    Exchange Rates

    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.