While sending money abroad, people do worry about value and security… whether they’re getting the right exchange rate and whether it’ll reach the person it being sent to. While there are a few notable money transfer services around the globe, most charge hefty additional fees.
In the past, sending money abroad involved a trip to the local bank. But now, with the various options available, people often find it tricky where to start and how to get the job done. So, here’s the cheapest way of getting the money across to your loved ones, safely.
This is a small guide on our part to help you figure out what’s best for you and how Azimo has successfully established itself as one of the safest and cheapest international money transfer options –
Getting the money from person A to person B is the primary goal. Luckily, there are a few signs to look out for when selecting the right service provider.
Keep in mind that all authorised companies are required to keep your money separate from their own accounts. This ensures, that in case the company faces financial difficulty, your money would still be safe.When you select a company that isn’t authorised to offer money transfer services, there’s no guarantee that your money will be kept separate from company funds, thus jeopardizing the safety of your money.
Azimo guarantees the safety of money and is approved and regulated by the FCA, a.k.a. Financial Conduct Authority.
As the name implies, exchange rates are the amount of one currencythat people can exchange for another. Rates provided by companies can often vary significantly, and hence, doing your homework is the keyto ensure you get value for your money.
Value for Money
International money transfers carry a small charge. This involves exchange rates and a fee. While it is tempting to go for the cheapest service provider, cheapest doesn’t always mean safe. This is where Azimo comes into the picture. Knowing which provider offers competitive rates and at the same time meets current safety regulations in place, always helps and guarantees peace of mind.
This is a one-off cost that the companies usually charge for their money transfer services. While at times this can be a set amount, these can also be a certain percentage of the total amount that you transfer.
Provider fee varies and banks tend to be more expensive than digital money transfer companies. At Azimo, they try to keep their costs transparent and simple. Hence, their fee starts at £1 and the company even offerstwo fee-free transfers to people who sign up for the first time.
While it is true that there are tons of options when it comes to money transfer companies, only a handful actually live up to people’s security and value for money needs. In fact, some even overlook the bare minimums – speed and ease. At Azimo, all monetary transfers are completed safely within 24 hours, thereby making it one of the best options out there in today’s competitive marketplace.