With recent developments in technology and software apps, there are a number of safe and reliable options for sending funds overseas. When it comes to conducting an international money transfer, it’s easier than ever to find an app for international money transfers.
The labor force in many countries, particularly the United States, includes many foreign workers who come over to work and send money back home. Today’s technology makes these transactions easier, more accessible, and less expensive than ever. Gone are the days of relying on wire transfers that take days to be processed and have to be conducted in person. Now, it is possible to transfer money overseas by simply tapping a button.
Safely sending money overseas
In addition to the nearly $300 Billion that the U.S. government sends overseas, there is also a huge amount of money that is sent to other countries by U.S. citizens and immigrants. Immigrants in the United States are often the lifeblood of their families back home. This was true even during the pandemic, and the trend shows no sign of slowing down, only growing.
With the advent of new technology, transferring funds overseas is a quick and simple task. In the past, it was often required to have a bank account in the country from which the funds were sent. If the person did not have a domestic account, they would have to rely on wire service companies. These companies, while providing safe transfers, typically required customers to visit in person to execute their transactions.
Wire transfers of this type often take several days for the funds to be received and could be expensive. When someone is sending money internationally on a regular basis, these fees can add up. So, in addition to the cost of the wire transfer, there were also time constraints to be considered. Plus, transportation was often necessary to get to the wire transfer location. These locations often had operating hours that were difficult for people working long hours.
Having to take the time to visit a wire transfer office, find transportation, and adjust one’s schedule around the hours of operation could be onerous for many people. Fortunately, today there are many more convenient options! It is no longer necessary to conduct an international money transfer in person. Of course, that option is still available for anyone who wishes to go that route.
International money transfer apps
As more and more banks and financial institutions increase their online and app offerings, the consumer is becoming spoiled with all of the choices that are available. In addition to banks, there are a number of companies that offer online and in-app money transfer services. These services are safe and secure and conform to all international requirements even if they are provided by a company that is not a traditional bank.
Rather than having to pay for a wire transfer that can take days for the money to be received, more people are going the app route. These apps can be linked between two banks and, in many instances, provide instant transfers. They are especially beneficial to people who have a bank in their home country but not in the country in which they currently reside.
When it is not required to have a domestic account, consumers have a lot more flexibility in choosing an app for their international money transfers. It is also possible to load cash onto their app for even more convenience. All of these options are great features for many different consumers. For immigrants, this flexibility allows them to provide support to their families without having to worry about excessive fees and inconvenience.
Anyone who is currently relying on a wire transfer service for their international money transfers should take the time to learn more about the helpful apps that are currently available. These apps provide a safe and secure way to send funds that is also convenient and efficient.
Find out more today about the apps and online money transfer services that are available to the international market. You will be happy with the time and money that you save! Click on the links above and download an app today.