July 22, 2018

Every year, billions of dollars are listed as remittances worldwide. With so many selections available, it is very important to make the ideal choice to avoid paying an exorbitant fee to transfer money. Understanding Send Money Online of them can help us in sending money in the most optimal method.
There are a couple of aspects while choosing a mode of money transfer. They are:

Location of the sender and the receiver
awareness rates of the technology and the availability of the same
time availability and affordability
Taking all of the above into consideration, one can select a medium that best suits him/her.
Cash Transfer
One of the earliest methods of earning money, a cash transfer is a very simple procedure of sending cash through a money transferrer. The recipient can collect the money or have it delivered with the money transferrer.
Bank Transfer
Today, several money transferrers have tied up to many leading international banks to empower their clients to make a bank transfer. By means of this service, one can transfer money to the recipient’s bank account.
Online Money Transfer
One can sit at the comfort of their home or work and send money through an online remittance portal.
Mobile Money Transfer
This method of money transfer is ideal for people who have limited access to banks and transfer agents. By means of this technique, money can be transmitted to a receiver’s mobile phone or cellular wallet. This is commonly used in many countries in the African continent. Some of the other countries that have this facility are Bangladesh, Kenya, India and Philippines.
2. Price of Transfer
The cost of sending money will rely on the exchange rates, mode of transfer (cash, bank, online), the commission charges levied by the remittance house etc.. And they will vary depending upon the service provider’s network and the other value added services offered. Simply put, at the end of the transaction, calculating how much of money the receiver receives will provide an idea of the price of transaction. While availing a particular type of money transfer service, one should be well informed about the under: