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Posted by on Jun 16, 2017 in Finance | 0 comments

Most popular misconceptions people have on money transfer services

Most popular misconceptions people have on money transfer services


We live in a world of speed, where everything needs to happen fast and effortlessly. Searching for information, talking with other people across the globe or sending money overseas, all of them need to happen at high speed. Due to the numerous methods of money transfer services available, you can send money to another country in a matter of minutes only. But first, it is recommended you check transfer rates on reliable websites such as Below you will find the most popular myths that exist on money transfer services.

It’s a waste of time to compare costs and transfer rates

When it comes to sending money overseas, many people rush into choosing the first money transfer service they have in handy, without even doing some research to see whether or not that method is advantageous to them. The Internet brought many changes to people’s lives and most of them were for the better. One of the benefits the World Wide Web came with is that it provides you with countless websites where you can consult and compare the costs and rates of money transfer services available in your region and countrywide. To many people, this is nothing but a waste of time, but the truth is, if you want to transfer large sums of money for instance and you want to get the best deal possible, these sites can be of great help.

I do not have to pay anything to transfer money, regardless of the method I opt for

Many people are of the opinion that money transfer services are all completely free, when in fact this is not true. There are different methods available for money transfer services, this is for sure, but not all of them have the same terms and conditions. Some of these methods are free, while for others, you may have to pay an extra fee in order to be able to transfer money. The secret is to do detailed online research before you opt for a specific method, because this way you ensure it is the one that best matches your needs and interests.

If I don’t own a bank account, I cannot transfer money

Another false statement that many people believe it is true is that they are allowed to transfer money on the condition that they own a bank account. This is the most common excuse those who do not actually want to transfer money overseas make. Reliable and professional providers of money transfer services have a large micro-financing base. This means that they allow customers to perform even mobile money transfers, without having to worry about owning a bank account.

All things considered, these are some of the most common misconceptions related to money transfer services you too should stop believing. Do not forget that if you want to benefit from the best results when transferring money overseas, it is best you check reliable websites in order to compare the costs of these services and to pick the one that suits you best.