Development of new technologies connects people

• Posted by Joshua Higgins June 3, 2020 Filed in Technology #Technology  #send money internationally  #remittance  #transferwise  #paypal  #worldremit  676 views
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  Good Worldwide Financial Systems Improve Quality Of Life (And Business Opportunities)

  Not so long ago we used to look for goods and services in our closest area. Then, with the development of transportation we could reach nearby towns and shop in big cities. Nowadays, the World 2.0 is slowly emerging with the worldwide connection to internet available for more and more people and well-developed logistics and shipping industry, we can easily order an item from a country 10 thousands of kilometers away from us and receive the parcel within 3 days. That's amazing where the humanity got to. What are the main factors to this phenomenon?

  Payment Systems

  Fortunatelly, people developed cashless means of payments very quickly. At first the classic banks and old-school remittance-like services used literall wires and telegraphs to perform cashless transfers where they only informed about the payment without actually moving the money from vault to vault. It was important to keep up with the cash amount deposited in each of the banks to assure liquidity. It was much safer and faster solution. Companies such as Western Union were one of the first private companies to focus on moving money between countries. They have set up a network of facilities and introduces international money transfers, which opened an ocean of opportunities.

  Developed Remittance Platforms

  Nowadays, we can use a vast range of different transfer services and payment platforms. From classics like PayPal to currency-oriented such as XE to locally-oriented like Remit2India or Grosik with the addition of literally thousands of money transfer platforms offering different features, transfer costs and exchange rates. Let it be TransferGo, MoneyGram, Transfast, Azimo. You name it. Each of them offers different features and prices, so how to choose the best one and what it means to offer good money transfer?

  How To Send Money Internationally Efficiently?

  Actually there is no one RIGHT WAY to send money and to offer these services. You need to figure out what are you looking for and what are your needs. Are you in a hurry and need to send money ASAP? Or maybe speed is not important to you and you are willing to wait additional days just to save money on transfer fees, as costs are the most important for you? Do you send money frequently to different countries and convert the currency on a daily basis, then probably exchange rates and international transfers are the most important features?

  That's why it's important to do at least a simple research before signing up anywhere. What can you do? Let's read some reviews. Let's take a look at TransferWise, it is one of the more popular platforms focused on international transfers. In this article TransferWise Review we learn about BOTH advantages and disadvantages of the company. There are explainations and breakdowns of the fees structure, transfer costs, exchange rates. Moreover, the author quotes also the most common negative comments from the customers to help you understand which drawbacks to expect. That way you learn a full picture of the company and can decide yourself whether it suits your needs or not.

  Now take a look at reviews of different companies and save money by choosing the best one. Hopefully, this short guide can help you do the initial research.