International money transfers are a boon for travelers, international students, and working professionals. They are the easiest and quickest way to transfer money overseas. Quick transfers are great for emergencies and allow your friends and family to help you with just one click. International money transfer apps are available for the native citizens of certain countries but you can also transfer money between the countries at a minimal service charge cost. Here is a list of international money transfer apps that are best suited for your needs abroad!
Perks of Money Transfer Apps
There are basically three main motives of using applications for international money transfer:
While you are still sitting on a chair and sipping coffee from your favorite mug, you can transfer money to anyone at any time with a few clicks. This is what makes international transfer services so appealing to people around the world.
With high and data encryption, the transfer of money across borders is completely safe. You do not have to worry about sending it to the wrong person due to application errors.
Easy and Comfortable Services
Now there is no need to run to the banks and stand in long queues for hours. You have access to your banks any time in the day or night. Do it according to your feasibility and convenience.
Also Read: Best Credit Cards for International Students
6 Best International Money Transfer Apps
Here are the top online applications that are best for the international money transfer process.
The leading application for money transfers on a global scale. The recipient or the sender must have a PayPal account. The PayPal wallet system is a secure choice for money transfers with small charges. You can use this application for requesting money, collecting, and making online purchases.
Another popularly used money transfer application especially for business. It is the second-largest money transfer application in the world. It is very easy to transfer money into the bank account and the recipient can pick up cash from the agent’s location. The transaction fees depend on the amount being sent or received, usually around 4.99 USD. You can get an estimate of the cost of transfer by clicking this link.
Ria Money Transfers
One of the oldest money transfer applications used since the 1980s around the world. It allows money transfer online and picking up cash at the agent’s location or depositing the cash directly into the recipient’s account. This application is popular among the US, UK, Spain, and Australian residents. There is a limit to money transfers in a month. The transaction charges vary from region to region and on the amount of money.
A totally online and mobile money transfer service for the people of the US and Canada sending money to India. There is flexibility between depositing money directly into the bank account or picking up cash from the agents. The money gets transferred within 24 hours but the fees can be high. The value+ option takes a long time but does not charge any transfer fee, except for debit or credit.
This online application uses a local bank account in which you pay and then they use their own accounts to pay into the recipient’s country account. It is popular for the UK and European residents. The advantage is that there is no limit for transactions. It is a convenient and low-cost option for sending money to India. One can send the money directly into the Indian bank account without the application account. The transfer can be free of charge but slower in delivery. The faster transfers have a fixed delivery fee.
An online money transfer platform that comes with an e-wallet and allows sending money instantly to the recipients free of cost. First, the sender has to transfer money to the wallet and then to the recipient’s account. A fee is charged during money withdrawal from the wallet. It promotes instant money transfers between the sender and recipient ecoPayz wallet. The charges for money withdrawal and international transfers vary.
How to Choose the Right Money Transfer App?
Before choosing your international money transfer app, take a look at these key points.
Most of the time there is a transfer fee attached to every transaction. These fees are charged through the exchange. Ensure to read about the money transfer services and the fees charged to avoid any unwanted situations.
Not all international money transfer apps are available in every nation. Carefully check if the app you have chosen is allowing transfer to the regions of your choice.
Speed of Transfer
Always check that the application works well during emergency situations. The transfer of money at crucial times must be made fast. Several applications such as TransferGo use a local account to fasten the process.
An online service with 24×7 customer support is definitely going to make your life easier. Ensure that your issues are immediately addressed by the chosen company.
Also Read: Passive Income Ideas for Students
This was all about the best international money transfers apps. These applications are really fast and supportive to the customers. All you have to do is go for online and instant services to make your money transfer process easier. Looking to study abroad this year? Sign up for a free session with Leverage Edu today!