Dec 242014

Japan is one of the countries that are well known for quality. It is among the greatest industrial nations of the world. There are many expatriates living in the country who send money out of the country and money is also transferred for business purposes. Other than the leading money transfer services like Western Union and MoneyGram, there are few local money transfer services like the one offered by Seven Bank.

Seven BankThey offer an international money transfer service from Japan, but for receiving funds, they direct customers to Western Union. To send money, one needs to have an account with Seven Bank and apply for international money transfer, before depositing money. Money transfer can be requested through internet or over the mobile phone or through a Seven Bank ATM.

Money can be transferred to almost every country of the world, however, before going forward, one is advised to refer to the list of supported countries. Charges are quite high compared to other services. For instance, sending $100 to the United States costs JPY 1500, apart from the exchange rate difference. The fee can be calculated here, but the supported countries should be referred to first.

There is a limit for transfer of money, which is 1 million JPY in one transaction or in one day or in one month. Annual limit is 3 million JPY. Having said this, some countries may have lesser limits. Western Union locations may set different limits for receiving.

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.

Feb 012014

By Mohammed Waseem

Money transfer from Europe has rapidly increased in the last year. This made money transfer companies eye for growth and expansion. UK’s money transfer company, Azimo announced expansion to other parts of Europe including Germany, Austria and Ireland. They are also planning to expand to France, Spain and Netherlands. This would add to the number of countries where users can send money from. They already support over 190 destination countries around the globe.

Azimo was launched in 2012 and is already doing great in terms of customer service and satisfaction. Customers are satisfied with the service and have suggestions for improvements, which includes making the terms clear.

Send Money With AzimoAzimo offers various ways to send and receive money. Online money transfers can be made from any internet enabled device such as a computer, a mobile phone or a tablet. Money can be sent directly to a bank account, to mobile wallets, to mobile phones as airtime and also for cash collection at one of 150,000+ locations worldwide.

Transfers can be done using a UK debit card, by telephone banking and by depositing the money into Azimo’s UK bank account. What is unique about Azimo is their integration with Facebook. Facebook users can now send money to their friends using Facebook’s Azimo app. The user sends a message to a friend who receives an invite from Azimo app to sign up and specify the method to receive the money, after which, the usual process continues. Azimo conducts analysis of individual Facebook profiles before commencing any transaction to verify that they are genuine.

They generally charge between 1% and 2% of the transaction amount for each transfer as their fee. When I checked their website, minimum transfer amount was £50 and maximum was £2500 with a transfer fee starting at £2.99 which went up to £15 which is even less than 1% of the amount. They provide very good rates, which are better than that offered by high street banks.

The process of sending money is very easy. The user has to register and create an account with Azimo using their mobile app or online. Once registration is complete, the user has to provide the details of the recipient and the method of transfer and then pay in one of the accepted ways, including debit card and deposit into the bank account.

Transfer time depend on the recipient’s location. The standard time is 24 hours, but according to a few customers, they had their money transferred in 15 minutes. However, many customers said that the timing to receive the money at agent locations was inconvenient and largely miscommunicated. They suggested that this should be taken care of so that no customer has complaints about it and the process runs smoothly.

Azimo is gaining popularity as a fast, cheap and safe money transfer service which is innovative and convenient for both the sender as well as the receiver. They began in the UK, expanded to other countries in Europe and have plans for further expansions. They compare themselves directly with the likes of Western Union, MoneyGram and PayPal.