30 July

How the internet and Online Banks Have made it Easier to Transfer Money Abroad

Perhaps one thing this generation will ever be grateful for is the discovery of the internet. Bye to those days when sending a fax or handwritten letter was the order of the day. Today, anyone can sit by their computers and send messages across the Atlantic once they have a reliable internet connection. Our lives have never been this easy, especially given the seamlessness of carrying out cross-border transactions. Banking operations are no longer restricted to the traditional banking halls; with the relevant apps, anyone can hold a bank account and carry out transactions without visiting the bank.

International Money-Transfer Agencies

Several online banks exist that help people transfer funds abroad, but none can match the features and benefits that transferwise offers. Being a British company, transferwise allows its customers to open a free account and send money in their currency to any of their loved ones worldwide. There are about 75 currencies of the world that this service supports, and customers can open a virtual account in such currencies. The great thing about this money transfer company is that it offers its customers free debit cards, which they can use to spend their money online or transfer.

A quick comparison between transferwise and other money-transfer agencies shows that it offers a better rate (exchange rate) and also charges small fees for processing transfers. Unlike others that are restricted in service to a few countries, transferwise has its tentacles in almost all nations. So, with an active email and a password to be determined by the user, one can easily set up an account and start sending or receiving money anywhere.

In Finland, you can know more about transferwise by reading reviews of their services on platforms like suomiarvostelut. People who have used their services can lead you to understand things to avoid and how to keep getting reasonable exchange rates.

How the Internet Has Made Banking Easier

In many countries, people would have to pay every month for an internet connection. Some states and unique places provide this service for free. But overall, anyone that is rich enough to buy a PC or even a smartphone should not find it difficult to subscribe to an internet package. Most mobile phone carriers have affordable internet packages that users can use on their PC via the hotspot feature.

With the internet and a bank app, you can send money within a few minutes, and your recipients in another country will receive it in less than 48 hours. Companies can also operate anywhere in the world and attend to customers’ enquiries via the internet. It saves everyone the time and stress of moving around or stepping into a bank before one can perform international bank wiring.

In A Nutshell

It is unimaginable that anyone would deprive themselves of the many benefits that the internet has. Beyond the smooth transfer of money abroad, many learning activities take place online, which may not be possible with the traditional lecture theatres.