If you’re new to sending money abroad, the process may seem overwhelming. And even if you’ve been sending money home for some time, how do you know you aren’t spending more than you need? Sharemoney has a few tips to make your money sending experience safer, swifter, and easier on your wallet.
Double check your recipient’s information before you hit “Send.” This includes their name, contact information, and the amount you wish to send. Keying in incorrect information can cause your transaction to be rejected, cancelled, or misdirected.
Watch out for bank closure days. Bank hours vary from country to country, and so do holidays. Sending money around a weekend or holiday may add to delivery time. Check the calendar before you send.
Keep Track of Exchange Rates. Did you know these rates fluctuate throughout the day, everyday? So when you send could cost you more money if you aren’t paying attention. Luckily, Sharemoney makes it easy to track FX rates with our FX Rate Tracker Alert.
Avoid funding transfers with your credit card. Most credit card companies will charge you hefty additional fees on top of the regular money transfer fees in order to send money to your loved ones in this manner. Use your debit card instead and save money!
Cut Out the Noise. There are many money transfer companies out there, all clamoring for your business. With Sharemoney, our exchange rates are competitive and our fees are low. Once you create a free account with us, you’ll also have access to great deals that can lower your fees even further!
And there you have it! Now you can send with confidence to your friends and loved ones back home, with these helpful tips from Sharemoney.