There are now many apps available that can help people transfer money to friends and family overseas. But, how do you go about choosing the right one? Is there a way that you can know how to choose a money transfer app that won’t steal your money? Fortunately, there are now many resources online to help you choose the best money transfer apps for your family and friends!
Apps such as Ria Money Transfer are changing the game when it comes to sending funds fast and safely. Below are some things to consider when choosing a trusted app for your needs.
Reviews
Like many apps online, you can find reviews for just about any money transfer app. Don’t know where to look? A simple Google search can tell you what apps are trusted by people around the world, and also give you an inside look into reviews.
In addition, you can look inside an app store for reviews on the app itself. When looking at reviews, make sure to look at the following information:
- Hidden fees. Did any users feel that the app had unnecessary fees, or were there fees suddenly taken out of their account? This is usually not a good sign, and you might want to look elsewhere for a more transparent app.
- Transaction time. Did the person using the app get the money in on time to their family or friends? If there was a hold-up, was there a particular reason? These types of reviews can also give you insight into how long it will take for your money to be transferred over.
- Customer service. If there was an issue with the app itself or with a transfer, were people able to get a hold of a customer service agent? Customer service is just one of many aspects to consider when choosing an app that is tailor-made for people to transfer funds easily.
Number of Money Transactions
Many apps will have information regarding how many transfers they have made worldwide. This isn’t the number of customers, per se, but it is the total amount of times customers have used the services to transfer money. Make sure there are at least a couple of thousand transfers, if not more, for the app you are using.
Usually, the more transfers that have occurred, the more reliable the app is and the more experienced they are in providing money transfer services.
Availability in your Country
Not all apps are made equal, and some will have services available in some countries while others will not. It’s best to check the app itself to see if the country where you need to send money is eligible to receive funds. If you’re unsure, it’s best to ask a customer service agent before you proceed with your funds.
Information About Currency Rates
A good money transfer app will have updated information about currency rates available on their app the moment you send your money. Currency rates are susceptible to change based on factors like tourism, inflation, and more. These rates can make your U.S. dollar worth more or less in the country you are sending funds to, meaning you will most likely need to adjust the currency you are sending.
A good app will have updated information about the latest currency rates so you can be prepared.
Flexible Pick-Up Options
Finally, it’s good to choose an app that offers flexible pick-up options for your friends or family overseas. If your loved ones don’t have access to online banking and need cash on hand, how will they receive it? Does the app you are using have flexible pick-up options, such as authorized dealers around the world?
Having flexible options and a number of authorized dealers around the world ensures that your loved ones will have access to their funds ahead of time. It will also ensure that your funds won’t be lost or stuck without being picked up.
