2020-11-30

Tips when choosing a remittance service

? Check that fees are displayed upfront

While many remittance services may seem cheap at first, often fees will be hidden or exchange rates won’t be guaranteed until after the transaction. Avoid being stung by only using services that are completely transparent and upfront about their fees, or using a provider that can guarantee an exchange rate on the spot. Be sure to also compare fees for sending smaller amounts of money – as many services charge high minimum fees.

? Consider the receiver and what method is best for them

Your choice of remittance service often matters more for who you’re sending money to than you! If your receiver lives in a remote area, travelling to the nearest money transfer agent might be inconvenient, expensive or even dangerous. In these circumstances, look at remittance services that offer more convenient receive options like mobile money.

? Check the speed of the service (Source: World Remit)