What should you use when sending or receiving money from abroad?
It should be common knowledge by now that whenever you’re transferring money abroad, remitting through your bank is seldom the best solution, given the higher fees charged. The exchange rate is usually less favourable (compared to Google), and a service fee is imposed for the transfer, which therefore reduces your capital being sent across.
So how do you know what’s the best to use for your money transfers / remittances?
Simple, check how much you receive on the other side. In recent years, online fintech companies have emerged globally to offer fast and cost-efficient digital cross-border money transfer services to both individuals and businesses. I previously reviewed one popular option – TransferWise – and was recently informed that there’s a new challenger on the scene with even more competitive rates: Currently ranked as the most cost-effective money transfer service in a