Sending money abroad – Avoiding Fees and Unnecessary Risks

Usually, when you send money abroad, you most likely expect high transfer and conversion fees. But this shouldn’t be the norm, nor should it be the impediment you take into account when it comes to such transactions. Maybe some of the most effective ways to elude these fees are online money transfer services and apps. If you’re not the techy kind, you should really start your journey now because these services are truly amazing and affordable. Also, in most cases, it’s unlikely to need high levels of IT literacy, only some basic notions are necessary, as these apps and platforms are built in a user-friendly fashion. If you’re still afraid of the potential risks involved by such tools, you shouldn’t. the technology nowadays surpasses everybody’s expectations when it comes to security.

Money transfer apps and platforms don’t ask for currency predictions

Companies and individuals that move money abroad have to guess the evolution of the currencies involved and anticipate when the right time for such transactions, which in most of the cases, isn’t a realistic expectation. However, by using online tools for this purpose, the fees and charges that usually apply for exchange rates and bank fees. If you choose to handle such transactions via money orders or checks, be sure that high fees will apply to your transactions, and this is far from being ideal.

Are money transfer apps secure and risk free?

Most of them, are. For instance, the financial experts and expert developers at Kora inclusive financial systems claim that their clients don’t experience fees, or security issues. Such systems use blockchain technology with allows increased privacy levels and use 1:1 transfer rates. So, all your transactions are more than safe when using such technology. In this case, the question if you should still rely on money orders and bank-to-bank transactions is not really necessary anymore.

Should you ever use bank-to-bank transfers?

If you want to transfer money from an account of yours to another, this may be a reliable solution. But make sure to check if any of the banks involved are practicing fees and other similar charges. You will first have to link both accounts by using the banks’ from which you’re transferring money platform. This usually requires to log into your account and find the “add account” or “link account” button. Click on it and enter the bank account number. After this, you will have to verify both accounts by using the directions provided. In most of the cases, you will have to enter a username and a password.

These are some ways in which online technology will help you manage easily and securely online transactions, taking into account that some providers don’t have any conversion fees you should mind, this is a far more reliable option than money orders and checks. Keeping your privacy intact and the fees low seem to be one of the main goals of many private operators, but also companies if they have to frequently move money abroad.

Keyword: Kora inclusive financial systems

You might also like

Leave a Reply