Sep 172014

By Mohammed Waseem

Sending money internationally attracts many things including foreign exchange rates, exchange houses, fees, etc. It is important that there is control over these factors, in order to ensure that a transfer in smooth and costs low. The options that companies have are managing all these on their own or partnering with third parties to provide excellent service.

Money Move IT is a company that is registered in New Zealand and has relationships with several of the world’s leading online FX services to ensure excellent rates, lower fees and more value in foreign currency, unlike many other companies.

Money Move ITMoney Move IT guarantees lower fees, better rates, faster transactions, safety and security along with the ability to send money at any time. The service is used not only by individuals, but also organizations, merchants and developers. For individuals, fees start at $4.99 and they can send small and large amounts with ease. No receiving fees apply in most receiving countries.

Organizations can use the service to pay suppliers and receive from other parties. Small businesses, government departments, NGOs, all companies can sign up to use Money Move IT. Agents can refer customers and earn commission from the transactions referred, thus increasing their profits. Merchants and developers can accept payments on their websites with Money Move IT.

Savings per transaction may range between $40 and $60 and payments can be sent directly to bank accounts. Additional security is ensured through the usage of SWIFT network. Apart from these, great exchange rates are on offer.

To use the service, senders have to register and login, then initiate transfer to any bank account in over 40 countries. Money has to be paid into the company’s local account; they don’t accept cash payments and they don’t directly debit the sender’s account. Senders need to manually transfer the money, which can also be done through internet banking.

Individuals will be able to send up to $200 until they confirm their identity. Receivers in Tonga and Samoa can collect the funds from local agents as well. On the registration page, users can see whether their country is supported to send and receive money.

Apr 092014

By Mohammed Waseem

TransferMate –  a UK based company with offices in North America and Australasia – offers international money transfer services to individuals and businesses, saving them huge amount of money in the process. They offer foreign exchange and money transfer services. They guarantee better exchange rates, lower fees, faster payments and good customer service.

Using their global network of bank accounts, TransferMate follows the ‘receive local’ rule, making it easier for the recipients to collect money. Their business is not operated by agents, but their own employees, which means that every transaction is in control of their employees from beginning to end. Their clients include financial institutions, universities, businesses and individuals who send and receive money internationally.

TransferMate Money TransfersTransferMate’s service is being used by over 12000 companies worldwide. When a sender enters bank account information in the online form, most money transfer companies take that to be correct and in case the information was wrong, the transactions get declined. TransferMate has a unique bank account number verifier called Automated Bank Verifier, which verifies bank account details entered by the sender.

In order to send money, users have to enter the amount online and view live rates to lock in at the best rate. Users can also send a batch transfer, which refers to multiple transfers in one payment. The funds have to be then transferred to them by depositing it in one of their accounts. Alternatively, it is automatically debited if a bank account is linked to the TransferMate account. After this, funds are transferred to the recipient; it usually takes 2 working days for the transfer to complete.

TransferMate’s service is a good alternative to wire transfers from banks as it will result in huge amount of savings. Users can apply for an account from this link and can send money using the Money Transfer Application Form.

Mar 132014

By Mohammed Waseem

Scams and money laundering are common in a country like Nigeria. Operating money transfer services to such countries is quite difficult. Amidst all difficulties, few companies offer their services to Nigeria after verifying the identity of the sender and measures required to prevent illegal activities.

WebLink International, a UK based money transfer company specializes in transferring money from the UK to Nigeria. They offer services to Nigerian nationals living and working in the United Kingdom. They can send money to bank accounts in Nigeria or send it for collections from any of the WebLink agents. Money can also be sent to WebLink-proprietary ATM cards for the recipients to withdraw it as they like.

WebLink InternationalIn order to send money, the sender has to visit a WebLink agent location and fill up the send and then hand it over to the agent along with the money intended for the transfer, the applicable fee and a verification document. Money is paid out either in US dollars or Nigerian naira, as instructed by the sender. Recipients can collect the money from one of over 1000 bank branches across Nigeria, which include Skye Bank, Fidelity Bank, First City Monument Bank and Keystone Bank. Cash can be collected just minutes after the completion of the transaction and after the sender has communicated the unique reference number with the recipient.

Money can be transferred to a regular bank account at any Nigerian bank; such credit generally happens the next business day. Transfers can also be made to WebLink-proprietary ATM cards, which can complete even the same business day. To obtain an ATM card, the recipient has to walk in to any of the Skye Bank branches and request a Webfast or Webkonnect Xplorer card.

WebLink has also launched person-to-person transfer service from transfers from UK to Nigeria, which is convenient, simple and affordable. As an introductory offer, the first transaction is free of charge for a transfer not exceeding £100.

No detail of the fees for their services is given on their website. A section does have exchange rate details; however, they ask the customers to call them for more details on current exchange rates. Overall, it is a good service which is quick, secure and reliable.