We immediately think of banks when talking about money, transactions, loans, and remittance. Banks are the primary way for people around the world to send and receive money. We all use our bank accounts to wire funds to another account on the other side of the world.
But, what if the other person doesn’t have a bank account? Luckily, there’s a reliable alternative to banks, known as online remittance providers. Not only do these providers charge lower fees and provide better rates than banks, but they also take less time to make the transfer. Here are three remittance providers who can send money without a bank account.
You cannot talk about online remittance providers and not mention Wise. Wise is a reliable brand that can send money to many places worldwide in just three days. Compared to many providers, Wise offers reasonable exchange rates.
But, when sending money to exotic countries, Wise is known to charge hefty fees. Plus, there are no tools to manage your budget and expenditure, which can be problematic in the future.
TransferGo has become a popular provider among users by offering an easy-to-use platform. While TransferGo customers can transfer funds to over 40 countries, they can only send them from 8. TransferGo can deliver the money in an hour for some of those destinations. However, that only applies to certain transfer methods and limits.
The downside to TransferGo is that as the transfer volume goes up, exchange rates become more unfavorable, increasing the cost of your transfer. Plus, in most cases, people on the receiving side of the transfer have to pay additional fees.
Lycaremit is another reliable provider for sending money without a bank account. In addition to providing mid-market rates, you can rest assured knowing there are no fees hidden in the exchange rate markups. Thanks to technological upgrades, Lycaremit doesn’t have to charge a lot to cover its operational costs.
Another upside to Lycaremit is that you can send funds anywhere within 48 hours maximum. Plus, in terms of security, Lycaremit is one of the best by using RSA 256-bit encryption on every single transfer.
Despite what many might think, you don’t need a bank account to transfer funds these days. Online remittance providers are far more affordable and quicker than banks. Of course, among the existing providers, some promise to charge “zero fees” but bury their fees within the exchange rate markups.
That’s why it’s critical to choose a reliable, transparent provider like Lycaremit enabling you to transfer funds quickly while paying minimum fees and getting favorable rates.
Hence, don’t wait anymore, and please register with us to easily send money anywhere you wish.