The Three Most Important Money Transfer Success Factors
By ExchangeRateIQ
3 years ago
Categories : Promotion Posts

Whether you want to send money online or through direct cash delivery services, there are three things that you will need to keep in mind but, before we jump to that, how do you choose the right money transfer company? How can you tell a real online money transfer from a scam?

Look for online reviews

Before selecting a service or Apps to send money, it is highly recommended that you go through the customers’ reviews. The importance of doing so is that you will be able to read from the experiences of people who have actually used the service before. When looking for reviews, you will want to take note of the balance between positive and negative reviews. For apps, it is easier to tell if the money transfer App is legit or not simply by checking the star rating in relation to the number of reviews. The best place to get reviews should be on various forums and platforms that are not owned by the service provider as some tend to hide the negative reviews.

The age of the service provider

Any new business has a difficult time convincing the public that they are legit and are here for real business. Most people who get scammed fail to check this simply because they don’t know-how. There are several tools that you can use to find out how long a website has been existing. You will probably want to avoid new money transfer companies because there is no proof that they are legit or not unless you have very sure about them.

If the company is operating under a legal authorization

One big mistake that many people do is not taking the time to find out about a certain company. The internet has made it very easy to communicate that you can find out if a company is registered or not by simply sending an email inquiring from the responsible authorities regardless of which country you are located in. By doing this, you will even make it easy for such institutions to crack down cons who are taking advantage of the unsuspecting public.

The Three Money Transfer Success Factors

In order to claim that you are successful in money transfer you need to make sure to consider the following;

  1. Cost of transfer

    Sending money should never be expensive and, thanks to technology, you can send money to Mexico or any part of the world without spending anything for the service provided that you find the right service provider. A good example of such a company is XE MoneyWhen considering cost, make sure that you find out if there are any extra hidden charges that come with the service. Platforms like Exchange Rate IQ has been able to help so many people to avoid spending extra when sending money by providing users with a well -researched data about available international money transfer services and how much they charge.

  2. Speed of transfer

    You can now send money online instantly to any part of the world. Western Unionand some bank transfers can also provide you with fast transactions. While many people believe that this option is costly, it again all comes down to the service provider that you choose to work with. Some transfers can be affordable with regards to how much you want to transfer while others. Many free money transfer services usually take a couple of days. Therefore if you position your transfer strategically, you can still make a successful free money transfer and have it delivered in time.

  3. Security

    You don’t want to lose your money during a transfer, especially if you are transferring lots of money or just any amount of money. To avoid this, you need to make sure that you are able to keep track of your money until it reaches the required destination. It is also important to make sure that your credit card or debit card details are secure because if these details fall into the wrong hands, then you can lose more than just money. That is because hackers are able to find and use your information to commit other cybercrimes, and that can and you into trouble.

    Such an instance is possible if you made the wrong decision and chose a fake money transfer service.


It is safe to say that the best way to send money internationally is through online services. That can be backed up by the fact that there are so many international money transfer Apps, and you are not restricted to using any provided that the service is available in your country.


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