How to distinguish a good money transfer service?

When you want to send money abroad it is crucial to find a good money transfer service so that the whole process could be quick and relatively cheap. Do not worry if you have never used such platforms before. All you need to do is create an account on the website and the rest of the process is similar to wiring money via generic local bank.

How to search for the right platform?

Best way to start searching is to google up some articles summing up recent leaders on the market. Just look for the ranking that suits your needs and takes into consideration most essential conditions for you. However, most of them check the firm’s time transfer, fees, rates and limits.

Another way is to read reviews throughout the internet and message boards. If a lot of people recommend something it says about its level of service and also gives you reassurance that the firm is safe and your money will not just vanish during the process. Always pay attention to both positive and negative opinions so that you can see all the pros and cons of the firm. It is of course best to use a service with a lot of favourable reviews from content customers because it speaks for the firm’s reliability and quality. A good place to start the research might be this TransferWise review, as the author explains how the online money transfer works, and showcases both advantages and disadvantages of the platform.

Set your criteria

When it comes to business there is often quid pro quo situation. For example if you care about your transfer getting to recipient’s account as quick as possible, you are probably going to have to pay extra. On the other hand, if you are in no rush, you can easily spare some money.

As you can see it is important why and how much money do you want to send abroad. Do you want to make a big-sum transfer only this one time or do you have an employee living in a different country and you have to send him monthly salary? Or maybe you travel between two destinations and need a regular cash flow between two accounts? Answering those questions will help you find your best option.