5 Reasons to Switch to Online Money Transfer in 2021

5 Reasons to Switch to Online Money Transfer in 2021

In 2020, a significant increase in workers from home has been observed due to global circumstances. 88 percent of the worldwide enterprises are predicted to have adapted to a certain sort of virtual paradigm and “remote” is a term of the year. Suddenly, a lot of individuals and businesses adapt themselves to remote activities and some companies have a lasting transition. With all the lockdowns happening on and off, there seems to be a trend of moving everything online including money transfer. We listed five reasons why you should make the move, too.

Convenience

Gone are the days when driving out for a few minutes to head to your favourite remittance store is called convenient. Everything can now be done at the tip of your fingertips - shopping, communicating, banking, even controlling your home appliances and monitoring your home security can now be done through your smartphone. So, there’s no surprise that many people switched to online money transfer because it is accessible whenever, wherever.

Speed

With everything almost set up after your first transaction, there’s no need to fill up a paper with a pen for information that you write every single time you send money. No need to bring an ID or supporting documents every single time because you only have to do it once. Most transfers are also done within minutes or up to 1 business day, so it’s ideal for sending money during emergencies. Processing times for traditional remittance service may take 3 to 5 business days at most.

Affordability

Online money transfer is generally cheaper because the business does not need to pay for the operating expenses of having a physical store. Therefore, they can charge lower fees because their operational expenses are not so high. Some even offer FREE money transfers, something that you can never find in traditional remittance services.

Status Tracking

The paperwork that you did won’t update on its own. You have to wait for them to send you a message regarding your remittance. With online money transfer, updates on money transfer status can be readily seen whenever you want to check through the app or website. They will even send updates via email or text message (or both).

Greater security

Data encryption and a two-step authentication protocol are among the security features available on money transfer websites. Any E-Transfer providers may also ask for bank codes and swift codes to ensure that you are sending to the correct bank. If you’re not asked, they may already have a partnership with that bank which makes the process even faster and you’re confident that your money will reach its destination safely.

But most of all, it’s everyone’s safety from being exposed to people outside of our homes is the foremost concern of many. So why go out when you can do international money transfers at home?

Remitbee is here for you. Send money for FREE when you send over $500. Sign up now.

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