Nov 132014

By Mohammed Waseem

Small and medium sized financial businesses, who don’t have their own resources to facilitate international money transfer, use the network of leading money transfer services. This gives them access to the entire world, while not having any operation in most of the countries. This gives them an opportunity to expand their businesses and gain a lot of experience.

American financing company, ACE Cash Express offers money transfer services to 197 countries worldwide. The service is advertised as MoneyGram, but they are provided by ACE Cash Express. So, necessarily, it is the advertisement of agency. And apart from all the locations MoneyGram has, ACE Cash Express adds to these. They do not mention the other MoneyGram offices locally, but allow collection of cash at any location in the world.

ACEACE Cash Express has 1500 offices in the USA and they enable their customers to access immediate money transfer to over 125000 locations worldwide and also support local money transfer within the US.

Senders can also use their services to send money online. But this, they do by redirecting to MoneyGram website. They do not have a webpage of their own to facilitate online transfer.

ACE also offers loans and prepaid card solutions; and this service becomes an add-on to their customers and may also bring new customers.

Mar 082014

By Mohammed Waseem

Malaysia is a country which has a good number of foreigners working there. It is a country which has over 10 million expatriates who support their families by sending money to them back home. Merchantrade, a Malaysian money transfer company offers services to the expat community to transfer money internationally.

Merchantrade began as a calling card and payphone service provider and later began offering other services. Today, it is the most successful mobile telecommunication and money transfer service provider in Malaysia. They also offer services like online remittance, foreign exchange and mobile remittance. They have 62 branches across Malaysia and also have online services for anytime access. They call itself a service available for anyone residing in Malaysia.

Merchantrade BranchMoney transfer is available for major countries in Asia including India, Bangladesh, Nepal, Bangladesh, Philippines and Sri Lanka. They offer bank transfers to any bank in Indonesia, Philippines, India and Sri Lanka. In addition, they have access to over 170000 payout locations across Asia.

In order to send money, a user has to register online or visit a Merchantrade branch. For online transfers, users need to register on their website, prove their identity and then send money. They provide the exchange rates for various countries on their homepage, which makes it easier for the sender to make a choice. They have also provided details of fees for each transaction and delivery times, which makes the service more transparent. It usually takes between 1-3 days for the money to be delivered, depending on the country and transfer amount. Users can send money 8 times in a month and transaction limits apply depending on each country.

For personal transfers, senders have to visit any of the 62 Merchantrade branches or 60 agent locations across Malaysia and complete the sending procedure. Apart from these, they offer mobile money transfer through Doowit for money to be available for collection in person or as direct bank deposit. They also offer immediate money transfers through MoneyGram.

Overall, they seem to be a very good service which has huge potential. They have the potential to expand to other continents.