There’re a gazillion purposes in life that call for online money transfer. From buying or selling properties to supporting family members overseas.
Whatever the reason might be, it’s paramount for you to find a safe and reliable service. That’s right! You put all your hands on deck to earn the cash, don’t let your hard work go to waste.
Instead, consider the following before transferring money online.
1. Security & Safety
Your service providers should protect your identity and activity. They should ensure your personal data is encrypted (in an illogical, illegible jibber-jabber state), passwords salted and hashed, and communication as direct and encrypted as possible.
In addition, they should have security policies and guides that help users’ financial transactions to remain secure.
If possible, the provider should have security features like two-factor authentication and notifications regarding activities carried on the account by any device whether authorized or non-authorized.
There should also be confirmation calls, e-mails, and insurance policies if possible.
Most importantly, there should be a clear guideline on how to chargeback, file for disputes, and such other security issues. This’s because, just like life, online transactions are never certain. And no service is hackproof!
2. Transfer Limits
We all want the best transfer deal which calls for comparison after comparison. In this case, compare transfer providers in terms of allowable minimum and the maximum amount to be transferred.
The limits range from an amount per transaction to the amount that can be sent to a single person in a single day.
How can these limits affect me?
Well, if the minimum limit is too high, you’ll be forced to look for another vendor when transferring small amounts.
On the other hand, if the maximum limit is too low, you’ll be forced to split the transfer amounts (increasing transaction cost), ask for a raise in the transfer limit, or just look for a provider with a higher limit.
With this in mind, shop and settle for a provider who won’t restrict your ability to send cash.
3. Exchange Rate
Finding the right rate ensures you get the best value for your hard earned money. It results in more cash being received by the intended party rather than remaining in the hands of the transfer provider.
Here, obtain the mid-market rate for the currency in question with a quick Google search. Then, use this rate as the baseline when shopping for the best exchange rates. Important, always factor in the transfer fee charged for each transaction.
There are numerous transfer providers in the market today thanks to technology. However, the high number means more work for you as the client in a bid to set aside wheat from hay.
Max Money’s Money Transfer Service has you covered from all that hassle. They not only offer real exchange rate but also smart technologies to have money transferred as fast and secure as possible.