How To Compare.
How to compare wire transfer app providers
The advancement and immense progress in technology have made it possible for people to send and receive money instantly via mobile, without any human contact. Wonderful right? Gone are the days when there was no other way of sending money without burning fare or fuel and enduring a toe-numbing queue.
Nowadays, all you need is a smartphone, reliable network and an account in a reliable company like WorldRemit, Azimo, Payoneer, TransferWise and CurrencyFair. The process of sending and receiving funds is now easier and more convenient than ever. It is now possible to transfer cash within minutes and at the location of your choice.
Learn more about the four major comparison parameters.
So how do you compare money transfer apps?
Are you looking for a reliable money transfer app? Knowing how to select the proper money app is important. Remember that this is an app that you will connect to your bank and use to transfer funds to friends, family and business purposes.
As the financial technology (fintech) sector continues to rapidly grow, financial service companies are striving to improve their international money transfer services. Money companies are coming up with features and extra services to attract and retain more customers.
Also, in these times, financial companies that facilitate wire transfers are very competitive, in their services, products and rates. Therefore, it is not wise to rush into deciding which app to use.
Things you need to do when comparing different money transfer apps.
As long as you keep this information in mind,
you will be able to compare and select the best international cash transfer app for you.
Whether it is WorldRemit, TransferWise, Azimo, Payoneer or CurrencyFair.
Check the user-friendliness of the site.
How user-friendly is the app? What is the readability of the app? What is the colour theme of the app? Is the app easy to use and are the different features easy to locate?
The first good quality of a reliable money transfer app is its user-friendliness.
Customers have better experience sending or receiving money via an easy-to-use app. While too many bright colours might distract the user, dull graphics might feel unattractive.
Check the app, to ensure that you can easily locate all icons and features on the app. Where are the profile settings? Where do you send the money?
Check the history.
How long has the money app been in operation? What is the rating of their services in that period? What kind of reputation does the app have?
Well-appointed money transfer apps like Payoneer, WorldRemit, Transferwise, Azimo and CurrencyFair have an impressive history to back them up. It is financially safer to use a company that has years of experience in offering wire transfer services.
The best money app is the one that offers quick, safe and convenient service, at an affordable fee. Compare the different fees charged to the various money transfer apps, before making the final decision.
How available is the money app? Compare the device availability of the money apps in question, to determine which app befits you. The best cross-border payment apps are the ones that can be easily accessed via both iOS, Android smartphones and Laptops.
Unfortunately, not all money apps are available worldwide. As you compare money apps, remember that they have different Geo availability. Check to see if the money app is available in your country and the country where your recipient resides.
The primary purpose of a money transfer app is to facilitate payments from one bank to another or country to another. In efforts to ensure customer satisfaction, different money apps have added extra features.
Apps like TransferWise come with currency conversion and a minimum ‘send’ limit of £8. As for CurrencyFair, you can send any amount of money abroad.
What type of pickup is available for the recipient? The most common forms of pickup are through the bank or cash.
Does the app allow direct business payments into your account, from abroad companies like Amazon? Does the company offer bank cards?
Read Terms and Conditions.
It is in the ‘Terms and Conditions’ page that you will find details on transaction timelines. You will also be able to know if there are any restrictions or possible penalties.
Your money sending app should offer fast, easy and good valued services. Sending money back home, whether it is in the Middle East or Africa, is now much faster and ample. Thanks to all financial technology companies that have made it possible for anyone to receive and send money across borders.
Comparing all the money apps around, we can only recommend TransferWise, CurrencyFair, World-Remit, Payoneer and Azimo.