Jul 302014
 

By Mohammed Waseem

For sending money internationally, Money2Anywhere is a very good option. The service is currently available in 10 countries and money can be sent globally, from any device. It is a service from UAE Exchange, which is well known and frequently used exchange house in the Arabian Gulf and many other countries.

Money2Anywhere offers bank level security to ensure safe, fast and secure movement of funds. For sending money, senders have to follow a simple four step process. The first step is sign up, after which, the beneficiary or the recipient has to be added. Once done, mode of payment has to be selected, which is in cash or bank transfer. The final step is approving the transfer.

Money2AnywhereFor cash pickup, Money2Anywhere has over 100000 agent locations and for bank transfer, they have partnered with over 150 banks in more than 30 countries. Websites for each supported country are different. Rates can be confirmed by selecting the country from the bottom left on this page. Transfers to many countries are free of cost and for others, a nominal fee is applicable.

Money2Anywhere claims to offer exchange rates better than banks and exchange houses.   In addition, they have promotional offers round the year and have multiple payment options. Any mobile device can also be used by accessing http://www.money2anywhere.mobi/.

Users can also send mobile top up internationally. This service is presently available in Bahrain only, but maybe introduced in other countries in the near future, in partnership with mobile operators. They boast of personalized customer service and competitive rates. Each customer is provided dedicated support by a Money2Anywhere representative.

They are offering an excellent service, which is safe and secure, with bank level security in place; and are also reliable for the fact that they are affiliated with a company that has over 30 years in experience, dealing with currency exchange, that is UAE Exchange.

Apr 142014
 

By Mohammed Waseem

Sending money has become very easy today, thanks to the continuous innovations in the money transfer industry. Companies dealing in foreign exchange, most of them offer international money transfers as well. On such company is RationalFX, a UK-based exchange house, which operates Xendpay, the online money transfer service with offices in the UK and France.

Xendpay is among the most reputed money transfer services of UK, which has transferred over $2 billion worldwide and is among the fasted growing privately owned financial services businesses. They operate in approximately 90 countries worldwide. They guarantee better rates and lower fees along with 0% commission charged. Senders can send anything from £20 and pay by bank transfer, credit or debit cards and iDeal (applicable only for EUR transactions). In addition, they provide a “No Surprise Guarantee” which means that if any of the intermediary banks makes a deduction for some reason, they will refund that deduction in full to the sender.

Xendpay Money TransferIn order to send money, the sender has to create an account on Xendpay website, view the live quote, provide remittance details and then make the payment. The fee depends on the amount and the destination country, but the general fee for payments in GBP are £3.99. The exact fees and limits can be known by visiting this link. They guarantee best exchange rate and fees in comparison to some of the leading money transfer operators including Western Union and PayPal. Delivery times depend on payout currency and the destination country; it may be anywhere between same day delivery to 2-3 working days.

Referring a friend can earn users Amazon vouchers worth £10, €12 or $15. The limitation, however, is that their transaction amount should be more that £300 or equivalent.

Most users are happy with their service and recommend others to send money through them for better exchange rates, better fees and an overall good service.

Feb 032014
 

By Mohammed Waseem

When sending money to another country, we compare rates and charges and choose the service which offers best exchange rates and lowest charges. With increasing competition, many companies are coming up with low fees, good exchange rates, speedy transfers, and so on. TransferGo, a Lithuanian money transfer company is another player competing in the market.

Launched in 2011, the company has expanded to UK and other countries in the next years. Today, they support money transfers to and from 21 different counties within Europe. Their direct competitors are TransferWise and Azimo, while they compare themselves to leading money transfers companies such as PayPal, MoneyGram and Western Union. TransferGo charges a fixed fee of 2.5 GBP or 3.0 EUR for every transfer, regardless of transfer amount. The reason for such low fee is that they use their own infrastructure instead of going through a third party.

TransferGo

Their positioning is the 10 times cheaper transfers with best rates in the market. According to their website, they have approximately 21000 customers to date, with over 10 million Euros transferred.

In order to transfer money with TransferGo, one has to register for an account here and transfer money from their bank to TransferGo bank account. The sender is provided a guarantee that the money will be delivered on the next business day. They also offer services to businesses, in which case they charge 1 GBP, with 1% exchange rate mark up.

The fact that they use their own infrastructure will keep their charges low and will keep them ahead of competition where fees are concerned. They can grow easily within Europe and do much more business. But in order to expand further to other continents, say the Africa and Asia, they will have to deal with regulation issues and may also have to increase their transfer fee. Fixing the fee is another strategy they have made; so fees from small amounts would make up for the larger amount transfers.

TransferGo is meant for bank to bank transfers within Europe and whether they will look into other markets is something that has to be seen in the future.