FOUR REASONS YOU SHOULD STOP USING OLD-STYLE FINANCIAL SERVICES TO SEND MONEY ABROAD.
If you have spent significant time working abroad or have tried supporting your family overseas, you know that the process of sending money abroad can be very stressful. It costs both time and money-often too much of both. There is a hope that global cryptocurrencies will make this easier. Until these become more accepted, we can switch into modern ways of money transfer coping with the cutting edge of technology rather than hovering onto the old-style financial services like online transfer, telegraph, credit cards to send money abroad.
This article highlights the most important reasons you should stop using old-style financial services to send money abroad.
1. SLOW PROCESS AND NO GUARANTEE
Going ahead with the oldest ways of money transfer, it will take weeks to perform transactions, or most probably, you can receive undelivered messages after weeks of waiting. Also, the remittance company says they are cheaper like they charge only 5$, but the currency exchange rate is so unfair that you will lose more, and they are slow like turtles.
What if it is an emergency? You or your family won’t have weeks to receive money from you. Hospital cases, fee payment, and other emergencies need the sudden successful reach of money rather than this delayed process. Money transfer should be ON TIME and CERTAIN.
2. BOTHERING DOCUMENTATION TO SEND MONEY
You need to provide a lot of documents to send or receive money from abroad in most countries. In an urgent situation, when you require extra money from your family, the bank and the government will ask for additional documents, and in most cases, such transfers are not allowed to happen. Here, we have to realize that you are in an urgent situation and want to get the money from your parents or your close ones, then why such strenuous documentation is enforced? Many people could be using non-legal means of transfer, but we should not be burdened with more documentation to get the money transferred by the fairest means.
3. COMMISSION FEES
All the international bank transfers will charge a very high commission from you. And sending money overseas with a bank or other popular money transfer companies will cost you a minimum of 10$ to an average 50$ each time. Making you pay this much amount each time is insane! There is no need to share your hard-earned money with those chunky bankers. Instead, you can use it for many other valuable purposes. Don’t pay HIGH COMMISSION FEES sticking onto this old-style monopoly system.
4. UNFAIR EXCHANGE RATES DURING MONEY TRANSFER
If you want to send your money back home, your bank, Western Union, or remittance companies charge you super unfair amounts with the local money exchange rates. In such a situation, you can lose up to 16% besides the transfer fee. This unfair exchange rate issue will make your money melt in your hand. By no means converting money to local currencies costs much because it doesn’t need any labour or investment or manufacturing lines. There is no worthy reason for super high-rate differences, so better not waste your money through unfair exchange rates.
So, leave up this old way of money transfer and switch to the easiest and fastest ways of money transfers! UNIMONI FINANCIAL SERVICES supports you with all kinds of international money transfers, foreign exchange, meeting all your requirements. For any assistance or queries in financial transfers, directly pin us or visit our website and arrange a call with us.
