Did you know that if you want to send money overseas, you can actually do so with the help of an app? That’s quite amazing, considering around 800 million receive funds from family members around the world. If you have a loved one, family, or friends to that you send money on a regular basis, perhaps it would benefit you to start sending your funds using the help of an app!
If you want to learn more about the benefits of using an app to send money internationally, read on below to find out more and make the best decision for your money transfers.
What is an App to Send Money Transfers?
As the name suggests, money transfer apps are apps designed for mobile devices like iPhones and iPads, or other mobile devices like android phones. These apps provide people with the ability to send money through the app itself, instead of visiting a local bank or other franchise such as Western Union or MoneyGram.
Because you won’t need to visit a brick-and-mortar store to make your money transfers, using an app will allow you to save time and money when it comes to travel expenses associated with these stores. You will also be able to stay on top of fees, which can be costly when using a traditional money transfer store.
These fees will be shown to you ahead of time on the app, so you’re never left in the dark about what you have to pay.
Apps Work in Most Countries
Most of these apps are now well-established, and as such have the ability to send your funds to a number of different countries. However, more remote parts of the world might not be able to accept funds or allow your loved one the option to pick up at a nearby location.
Check the app that you’re using ahead of time to make sure it can send funds to the country you need. Also, check to make sure that these funds will reach your loved one and be available for pick up at a nearby location.
There are Options to Pick Up Funds
As mentioned before, your loved one can access their funds directly from their bank account if sent online. However, if they need cash on hand right away, there are apps that have authorized dealers around the world. Your loved one can visit an authorized location to pick up their money and have it on hand beforehand.
Fast Transfer Times
There are fast turnaround times when you use an app to send funds. Using an app not only allows you to make safe transactions, but it also allows you to transfer money in little time. This is a good choice for people that need to send money to their friends or loved one during an emergency situation.
You can choose to send money through an app or online, depending on what’s easier for you. Using an app allows you to send it through your phone, so you can be ready at a moment’s notice. This is vastly more helpful than sending money through a bank or other traditional wire transfer service.
Know Currency Rates Ahead of Time
Did you know that currency rates change 24 hours a day? This means that at any given point in time, your currency rate might make your money worth more or less by the time it gets to your loved ones. Apps that are made for international money transfers incorporate currency rates into their app, so you know ahead of time how much money your loved one will get.
Compatible with Most Devices
Whether you have an iPhone or Android device, the good news is that most apps made for money transfers are compatible with whatever device you have, so long as you continue to update both your device and the app. Check your device’s app store for more information on compatibility, and to choose an app that best aligns with your money transfer needs.