There will be times where you find yourself in need to send or receive money to a person for one reason or another. Whether it is to pay for something you bought online or to receive a payment from a client abroad, the fastest and most affordable way is always the best way to go.
Instead of using money transfer services or bank transfers that can cost you more with their steep fees, it is more convenient to get a money transfer app that will charge you way less and you will be able to access through your mobile at a moment’s notice.
However, with all the options for advanced payment solutions out there, what are the things you need to look for to get the best money transfer app? Here are a few things that you should check before hitting download:
Speed
When it comes to the speed of money transfer services, there are some out there that take longer than others. If you need your funds sent to another person almost instantly, it is best that you check on the rate in which the recipient will get the funds. There are some cash transfers that can take up to four days.
Availability
Most apps available nowadays are compatible with almost all devices whether it be Apple or Android. The app availability you will have to check is if it covers the countries and currencies that you will be needing. There are online payment providers that only allow money transfer transactions in one or two countries. However, there are excellent apps out there that have payment methods for worldwide transactions and give you access to numerous currencies. There are also apps that give you the option to be able to check on the currency exchange rate in realtime.
Payment and payout
Another thing that you have to look out for is the means for you to be able to put funds into your money transfer account as well as how you will be able to cash in your payout. The most common way for you to put money into these online payment solutions is through your debit or credit card. There are others that also include the option for you to fund your account through bank transfers. Other apps give you both options. It is a matter of choosing the app that allows the payment and payout options that are more convenient for you.
Features and fees
Probably, the most vital thing that you should look into when finding the best money transfer app for you is their features. You should be able to get the services that you will be needing. There are some money transfer apps that give you an unlimited number of transfers but might require a minimum amount that you will be able to send. There are other features may include cash pickups, bills payments, and transfer caps. With one of the best money transfer apps, you’ll get these advanced payment solutions with the features that you need to make it work in your favor.