Sep 232014

By Mohammed Waseem

Payroll cards provider Brightwell Payments has a product line called OceanPay, which is a service to cater to payroll needs of businesses. It involves products offered in partnership with Visa and MasterCard for the users to benefit from various services available. This includes cash withdrawal, online account access, etc.

One of the services available is the facility to send money back home. As it is called, it is a service that enables users to send money home in minutes, without leaving the ship. The ways available to send money include wire and draft.

OceanPayAll the users have to do is login and select the Global Currencies option. The web address for logging in is mentioned on the back of every card. Once logged in, the above mentioned option has to be selected for making money transfer. A beneficiary has to be added then, from the Manage tab by selecting the Manage Beneficiary option from the drop-down menu.

The currency has to be selected then, having filled the form and before selecting Create New Beneficiary. The information required for adding a beneficiary is their mailing address, the receiving bank’s name, bank code, IBAN and the SWIFT Code, and the receiving bank’s address.

After the beneficiary has been added, payment details have to be entered in screen after selecting Order Wire/Draft from the Quote & Order menu. After adding the payment, ‘Send Wire/Draft’ has to be chosen to initiate the payment. The acknowledgement can then be printed for reference. The fees applicable maybe between $7 and $15.

Western Union transfers are available through OceanPay, as well. Users can alternatively choose this to send money to any corner of the world and avoid complicated procedures. The wire transfer is safe, but it is complicated compared to the simple processes many competitors have been offering and to the demands of modern customers.

This service is only available to OceanPay card holders; and the cards are provided by their employers. So it is not available for everyone.

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.