international money transfer

Now Send Your Money across the World!

Gone are those days when sending money abroad was no easy feat. Entering into a globalised world, the mushrooming of revolutionary technology eased people’s lives at the click of a button. Online International money transfer was one such godsend for remitters. Funds flowing from one nation to another are called the “remittance corridor”.

With the advancement of civilisation and technology, Wire transfer became immensely popular in the late 19th century. In the late 20th century, the Global network SWIFT furnishes to process money transfers worldwide by conveying messages between the banks to generate the transfers.

International Money Transfer Today

With the growing population and betterment of technology, transferring money abroad has become an utmost necessity. The best way to transfer money internationally is via a global money transfer platform that is acceptable worldwide. Now the companies have invented reliable, user-friendly, and inexpensive services like mobile wallets, direct cash delivery at the recipient’s doorstep.

Money transfer companies have constructed appropriate measures to ensure all safe and secure international transactions. The system also provides transparency in transfer fees and convenient transfer Money to your family anywhere in the world.

With the growing population and betterment of technology, transferring money abroad has become an utmost necessity. The best way to international money transfer is via a global money transfer platform that is acceptable worldwide. Now the companies have invented reliable, user-friendly, and inexpensive services like mobile wallets, direct cash delivery at the recipient’s doorstep. Money transfer companies have constructed appropriate measures to ensure all safe and secure international transactions. The system also provides transparency in transfer fees and convenient transfer Money to your family anywhere in the world.

Modes of International Money Transfer

Availing the international money transfer service through banks could be a little expensive. On the other hand, money transfer companies offer lower transfer costs and a relatively more manageable process. Also, the exchange rates of different countries, which are competitive, allow customers to send money internationally. There are several pros and cons to find a platform that serves the purpose:

Bank wire transfer

This electronic transfer requires having bank accounts of both parties. The transaction process includes safety and security to send money internationally, either online or in person. Although this transfer medium is convenient for both the remitter and receiver, the fees charged can be slightly higher.

Bank transfers are a safe option for remitting large amounts of money from one bank account to another. 

It is an ideal option for business owners to wire money internationally to other businesses without any threat of hackers or fraudulent agents. 

Online payment portals

You can transfer money within seconds at the click of a button. The recipient’s details are required, like email ID or phone number, before making such a transaction for a fair process. Henceforth method is efficient to transfer small sums of money by businesses to pay employees working overseas. The remitted amount includes the transfer fees charged and foreign exchange rates.

Instant cash transfers

The most preferred and quickest mode to send money instantly is cash transfers. Cash transfer is easy and reliable in countries with a weak banking foundation. It is also an easy process for older adults and those who are not comfortable with online money transfer. For those who prefer ready money, cash transfer is the best option.

ATL money transfer software has 50,000 pick up locations spread across many countries. The recipient can collect cash at any ATL Partner location. This software transfers money instantly to bank accounts in over 60 countries in Africa, Asia, Europe, North America.

Contribution of Remittance

Remittances provide a cushion to countries against financial setbacks in various ways.

1. Remittance tends to increase consumption and purchasing power. As a result, it gives access to better food, education, healthcare, housing and lifestyle, among other things.

2. It directly benefits the recipients because no middlemen are involved in the process by reducing corruption. Governments have introduced various tax-free accounts and other incentives to encourage foreign remittance through legal channels.

3. It enhances a country’s per capita income and GDP.

4. It gives complete knowledge regarding money remittance.    Trends show that a poor economy encourages its country’s workforce to seek better revenues abroad. Remittances from abroad have a positive effect on the financial well-being of the country. Today the remittance software has made migration more accessible and affordable globally.

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