Gone are the days when you needed to walk to a physical bank or wire transfer location to send money. Today, there are many ways you can safely send money online to loved ones overseas. One of the best ways to do so is through an app specifically made for international money transfers.
Below are some of the ways you can send money online using an app. This is, by far, one of the best ways to send money and ensure that it is getting to your loved ones.
Never Send to Strangers
First and foremost, before you send money online you need to verify the identity of the person you are sending money to. Even if a person states that they are your family, a close relative, or other individuals, it’s never a good idea to take their word for it. Every year, millions of dollars are lost due to wire transfer fraud.
Make sure to never send to strangers before you send money online.
Check for Reviews
If you do choose to send money to a loved one or another trusted person, it’s important to check for reviews before using an app. If you accidentally send money to an unknown person, it’s best to contact this app or online service first to request a refund or reversal of funds.
In addition, you need to check for reviews of the app or online service you want to use beforehand. Using an app ahead of time will allow you to view people’s experiences with an app or money transfer service. Did they have a hard time transferring money over? Did they have to wait a long time before the transfer went through? Were there any unexpected fees?
All of these are key pointers when choosing an app or service to send money online. Looking at reviews allows you to get an answer to all of these questions ahead of time.
Use an App With Tracking
When you send money online, chances are you’re going to want to have a tracking number on hand to refer to your transfer. Having a tracking number makes it easy to refer to your specific funds, and also allows you to give updated information to loved ones who might be waiting for your transfer to come through.
Fortunately, many apps now give you the power to track your funds easily with a pin, so you have the power to check on your transfer from anywhere with your mobile device.
Use an App that’s Easy to Use
Sending money overseas can be a bit confusing, and it can be a bit scary for those who have never done it. While using an app with lots of great reviews and ensuring you verify the identity of the person receiving the funds helps, so does using an app that’s easy to use.
When sending money online, use an app or service that was specifically made for international money transfers. Not doing so puts you at risk of hidden fees, loss of money due to transfer rates, or other obstacles.
Apps that were made to send money online have many great features such as:
- Transfer rates
- Instant cash sent
- Pickup locations for people throughout the world
- Spots where you can send your money in person (if you have second thoughts about sending money online)
Check the Transfer Rates
Finally, you should check the transfer rates before you send money online. If there’s not an emergency, check the transfer rates for the best time to send money. For those that have never sent money internationally, transfer rates are the amount of money that your U.S. Dollars translate to. For instance, if you send money to Mexico, the transfer rate for $1 will be around 20 pesos in Mexican currency.
Using the transfer rates allows you to know how much money to send before sending your money online. It also allows you to get the most out of your international funds.
Sending money online is one of the best ways to get funds over to loved ones fast. However, there are certain security measures you need to take before doing so, as well as online searching for the best apps to send money internationally.