If you’ve never had any experience with international money transfers, you may feel a bit confused and overwhelmed at first. You’re looking for a reliable service provider that can securely deliver the funds to your desired destination.
Naturally, you’ll have many questions floating around in your mind, and you want the answers before you choose to give your money to a third-party company. To help you with that, we’ve prepared a Q & A list of international money transfers.
How Long Will the Transfer Take?
This is probably the first thing that pops up in your mind. The answer depends on several factors, such as the remittance provider, the sender, the recipient country, and the transfer method. For instance, sending money to a major European country like France will take less than a transfer to Benin.
When it comes to international money transfers, online providers are much faster than banks. For instance, Lycaremit can send money to virtually all over the world within two days, while most banks take at least five days to complete a single transfer.
How Much Will it Cost?
This is the next big question for most people. The transfer costs depend on transfer fees and the exchange rate. The exchange rate frequently changes and depends on the currency value of the sender and the recipient country. Of course, some remittance providers like Lycaremit consistently offer better rates than many others.
The fees depend on the remittance provider and the transfer method. Some remittance providers take additional fees for certain methods, such as credit/debit cards. Plus, some may claim to charge nothing while they bury the fees within the exchange rate markup.
Should I Use a Bank?
Banks are too much of a hassle. They charge exorbitant fees, drag you through a lot of paperwork, and take forever to make a single transfer. Plus, they don’t always offer the best exchange rates, and they are rather limited in terms of customer support.
Can I Send Money Online?
Yes. As stated before, many online remittance providers on the market will let you create an account in several easy steps. Once signed up, you can enter the amount, choose the destination country, and hit send.
Can I Send Money Using My Smartphone?
In this day and age, there’s an app for everything because people love smartphones. You can send money anywhere anytime without needing to drag your laptop everywhere you go.
Some online remittance providers only offer services through their websites. However, reliable providers like Lycaremit have multi-platform apps that make international money transfers as easy as ordering food with your phone.
Bottom Line
Like most financial matters, it’s vital to obtain key facts about international money transfers before making the final move. As you can see in the answers, most factors depend on the remittance provider. Hence, it’s critical to look for a reliable remittance provider able to make this unfamiliar experience into an effortless one.
That’s what you’ll get with Lycaremit’s ultra-competitive fees and favourable rates. Don’t hesitate to register. We’re ready by your side 24/7 to help you.
