If you have been working abroad for quite some time, and you sometimes send money to your family at home, dealing with bank fees for money transfers is probably a common issue for you. When it comes to sending money, the charges of banks are not exactly reasonable, especially when the amounts transferred are fairly large. Well, you should know that you have a more beneficial alternative you can turn you – online money transfer services. There are many providers that allow you to send money abroad, and you can easily find a website that gives you the chance to compare option sand choose the best there is. Here are the reasons why online transfer services are far more beneficial than those offered by banks:
Standard fees regardless of amount
Although in the past, banks might have seemed the most reliable and affordable option in terms of money transfer, things have changed over the last few years. You probably know by now, that a bank’s fee for a money transfer depends on the exact amount you are planning to send. So the more money you want to transfer, the more you will have to pay for this service. Well, if you search for the right online services, you can send exactly how much money you desire, the transfer fee being a pre-determined one, standard regardless of amount. Over time, the financial difference will be a noticeable one.
Better exchange rates
While you are sending the money in the currency of the country you are currently working in, you probably want your family to receive it in your home country’s currency. However, the exchange rates added with the transfer ones can be quite unreasonable, when you resort to a bank. Online alternatives on the other hand, can provide you with far better exchange rates. Because you have the possibility to compare all online vendors that offer this kind of service, you will know you are getting the best deal on the market.
Last but not least, convenience is another reason why online transfer services have become so popular. You can take care of this task from the comfort of your own home. All you have to do is use your laptop or your smartphone, find a reliable website that can compare rates, and choose the best and fastest option of sending money available. Banks will only make the process longer and more complicated for you, so perhaps it is time to think about using other options.
Transferring money is not something that should be taken lightly, considering the fact that many banks charge large fees for this type of service, fees that in time can add up to a quite a significant amount. Now that you know there are other alternatives, and have learned what the right money transfer services can do for you, perhaps you will give these alternatives more of your thought. Just search online for the best offer, and next time you want to send money you can avoid spending too much on transfer fees.