In a broad sense, a remittance can simply refer to the transferring of money overseas between two parties for non-commercial purposes. However, the term is usually used in the context of people working overseas sending money back to family in their home country. Now, The emphasis here is on “non-commercial,” as remittances are different from…
1. How to Transfer Money Internationally With PayPal Here’s a quick summary of how you can send money internationally with PayPal: As you can see, whether you’re new to PayPal or already have an account, it’s really easy to set up an international transfer with them. Here’s a look at each of these steps in…
Quick Overview: ACH vs Wire Transfer What is ACH payment? An ACH (stands for Automated Clearing House) lets you transfer money from one bank account to the other without using cash, check, credit or debit cards, or wire transfers. In this system, payments are electronically processed by clearinghouses (which are intermediaries between two banks). ACH…
1. What is a Multi-currency Account? A multi-currency (or foreign currency account) is a type of account that allows you to hold, send, and receive funds in multiple foreign currencies. Having a single multi-currency account can be cheaper to manage, compared to multiple bank accounts in different countries — where you may have to pay…
Transferring money internationally safely, inexpensively and quickly seems to be easy. Just pick a reputable service with great reviews. Not so fast. After years of writing reviews and transferring our own money around the globe (personally and for business), as we have written about for years it is easy to miss one very important thing:…
Quick Comparison: 8 Best Cash App Alternatives All our recommendations below are excellent alternatives to Cash App. Find out which is the best for you! 1. Zelle — Integrated with most bank apps in the US Summary (Why and why not to choose them): What stands out about Zelle (review) as a P2P payment system…
I talked to 6 different people in customer support and they all said the same scripted apology and told me to wait 5-7 business days for an email. It’s outrageous how I cannot speak to someone on the phone who can help. Here are examples from two of the biggest apps: Example 1: Venmo has…
1. What Does Transfer Speed Depend On? Typically, the number one factor that you’d relate with faster money transfer speed is higher fees. While that’s partly true, there are many other factors that influence how fast your transfer or remittance can reach your recipient. Understanding these will put you firmly in the drivers seat! Which…
6 Must Knows – Before You Sign Up (for UK, USA, Australia, Canada, and Europe) While banks make it easy to manage our finances, including sending and receiving local payments, things are quite different if you have to pay or get paid in foreign currencies. Exorbitant fees linked to these accounts, minimum balances, and long…
