Use a multi-functional money services app for sending and receiving money
For ease and convenience, it is best to use a mobile device when making payment transactions. However, the common problem that many people encounter when wanting to send and receive payments is the lack of accessibility to different money transfer methods. The solution is now available that enables you to access your various sources of funds to transfer money both locally and internationally.
You’ll be able to maximize your time and become more productive with the advanced payment solutions of this money services app. The integration of the various standard methods for making a payment transaction plus the application makes you have a powerhouse of choices. You’ll be able to make transactions online and gain the benefits to include saving money on transfer fees.
The following are the various transfer methods of this money services app:
Wire transfers. With the use of wire transfers through the SWIFT network, you can send money using your payment provider app to bank accounts in almost any country worldwide. The only thing about doing this is that you have to send the funds in the local currency of the country that you are transferring the money to. This shouldn’t be a problem with the right money services app since they provide you with fair exchange rates and options to convert your account balance into the currency that you will be transacting with.
EFT transfers. Electronic Funds Transfers are pretty much like sending a wire transfer. However, the funds that you send will go through to accounts in local banks instead of bigger ones that wire transfers cater to. This method of sending and receiving money also uses the SWIFT network to make the transaction processing time much faster than going about it through your bank. Once the transaction is made, the funds that you send out will get reflected in the recipient’s account within 24 hours and vice versa.
P2P transfers. Peer-to-peer transfers mean that you can instantly send and receive funds by other account holders of the same payment provider. These types of transactions are usually free or charge you a smaller percentage of the funds being sent out than it would cost you if you send money through a bank or money transfer service.
Fund any card. With the use of a multi-functional money service app, you can be able to fund any bank card no matter where they are in the world. You can put money into a Visa, UnionPay, or MasterCard through the funds that you have with your payment provider and the cardholder will be able to withdraw the money you send to the card within the day.
Prepaid card. If you want to have a debit card and don’t want to go through your bank to get one, you can always use your payment provider to do so. You won’t need to submit tons of documents and wait for weeks to accomplish this. All you have to do is send in your request and wait until you get the card. Since it is prepaid, you can control how much money you will put into the card through your end without getting any debts.