Five simple ways to send money around the world

How to transfer online safely only

With hundreds of thousands of people now part of the global world, transferring money from one country to another has become a necessity. People now want to do it faster, but safely.

In the past, it was fine to wait for several days to send money using banks. This has drastically changed. Well, some still transfer their money physically but not many people can afford that high risk. When you are sending money to another country for whatever reason, you want to be sure that the money will reach its destination fast and safely.

This is because currency exchange rates are always volatile so you don’t want your money losing value while in transit. Afropreneur will show you five simple ways you can transfer money worldwide almost instantly.

1.     One of the fasted ways to send money to anyone, at anytime is through PayPal. This is an online platform that uses email to receive or send money. Unlike banks which have standard operational hours, PayPal operates throughout day and night. Joining PayPal is free. However, sending money is not free but it’s much cheaper and safer. You are also guaranteed that that the person will definitely receive the money as it is. PayPal is not available in some countries but it is accessible nearly everywhere. The online platform has millions of users. Not only are you able send money using the service, you can purchase goods online without revealing your identity.

2.     Use Bitcoin, an innovative kind of payment and a new kind of money. It is entirely a virtual currency which can be exchanged with actual cash. Bitcoin uses peer-to-peer technology so no banks are actually involved unless you want to withdraw cash. You can transfer Bitcoins to another person. Once the other person has received the Bitcoin, they can then exchange it for cash at a fee. However, it’s possible to purchase goods from certain sites using Bitcoin directly. After all, it’s currency. The catch though it that do some research about Bitcoin before you use it.

3.     Another, probably old fashioned way of transferring money is using ‘Wire Transfer’. This is when money is transferred electronically from one bank to another. The process is quick though this depends on the bank or where exactly the money is being transferred. Using wire transfer, money can be transferred internationally using SWIFT (Society for Worldwide Interbank Financial Telecommunications) codes. This is one of the oldest systems as it already existed in 1872 when Western Union first launched it.

4.     Money Gram seems to be by far the most loved form of transferring money. One does not need a bank account or email address. All you need is identification and of course, you will need to reveal the source of money. The money usually arrives within minutes and can be withdrawn at designated facilities such as banks. In some countries, money grams are used to send money to mobile phone numbers or bank accounts. However, even without a bank account or mobile phone, you can still receive money using money gram.

5.     Lastly, you can send money using World Remit. It is an online service that allows you to send money abroad from a smartphone, tablet or computer. Not only are you able to send cash but also mobile top up to about 100 destinations. World Remit is one of the fastest ways to send money. The recipient receives an instant message as soon as the money is received. Money can be sent to bank accounts, for cash pickup, to a Mobile Money service (sometimes called mobile wallets) and as a mobile airtime top-up.