Transferring money across international borders has become more important than ever. People are migrating to different parts of the world in search of better employment, education, and healthcare, accounting for a steady growth in the population of migrants. These migrants naturally need to send money back to their families. However, banks traditionally have a complicated and time consuming procedure when it comes to transferring money to a different country. This is where online tools such as ATL Money Transfer can do wonders. You can now send money to Togo from UK in almost no time. As a matter of fact, there are just three important steps that you need to follow in this regard.
- Search the tool offering you the best exchange rate online
- Enter the basic details of your transaction
- Validate the request for your fund transfer
How to search for the right tool?
The demand for online money transfer platforms has triggered the introduction of multiple players in the market. While option is a good thing to have, this has also made it difficult for users to get hold of the one that suits them best. This is where search engines and social media can prove to be useful. Try searching for the easiest way of sending money to Togo on popular search engines to get a readymade list of available applications.
How to select the one that suits you best?
Once you have a list of tools, try checking them for authenticity and credibility. User feedbacks on social media will help you in this regard. The next stage is to compare the tools on factors such as turnaround time, processing fees, and exchange rates on offer. With the comparative data in your hand, choosing your preferred money transfer tool shouldn’t be a problem.
How important is the exchange rate?
The exchange rate is probably one of the most important parameters to consider as it directly affects your money. The exchange rate varies with every single application and the slightest of difference would mean a lot of money for you. It is thus, strongly advised to look for applications that can give you the best exchange rates before going ahead with your fund transfer to Togo.
How much time does it take?
Ideally your entire transaction should be completed within two working days. However, the time taken depends on the application that you choose to use.
How does the processing fee affect decision making?
Similar to time of completion, the processing fee for the fund transfer also varies with different applications. While you should try to keep the fees as low as possible, it is a good idea to concentrate more on other factors.
How secure is the transaction?
Most professional applications have a dedicated team of experts who ensure the safety and security of every single transaction. These experts track and monitor every fund transfer individually. If you are dealing with a credible application, safety should not be one of your concerns.
How long is the documentation process?
Unlike financial institutions, these tools have a simple documentation procedure. You will need to submit the details of the beneficiary bank account along with your address and contact number to initiate the fund transfer. The tool will ask you to confirm the request, giving you a chance to alter the details. Once you validate the request, your fund transfer will be processed.
What are the licences that you must check?
Make sure the tool that you choose to use is certified by Financial Conduct Authority (FCA). This gives it the much-needed authenticity and credibility.
How important is authenticity in this regard?
With cyber crimes on an all-time high, authenticity of the tool has to be one of the top-most priorities for you. You can never rule out the existence of wrongdoers in the cyber space. Thus, it is critical that you check its market reputation along with the required licence before trusting it with your money. A small error in selecting the right application can cost you heavily.
Wrapping it up
The population of migrants is steadily on the rise, thanks to globalization. This has also made international fund transaction a necessity that you can no longer avoid. Unfortunately, most banks still require a detailed documentation for such transactions, making it difficult for users. This is where online applications such as ATL Money Transfer can make you life easy. All you need to do is to submit the details of the beneficiary account along with your basic details. At the cost of a nominal processing fee, you will be able to send money to countries such as Togo in no time. So, what are you waiting for? Try this today and feel the difference.