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Sending a regular international money wire can cost you as much as $30 for a simple transfer. When it comes to businesses many companies nowadays operate primarily online. Whether in the form of an e-commerce store or by providing online services. In both cases, you want to be able to handle numerous transactions each day. A platform with a good online API and automatic payment gateway connected to your site is superior to an oldschool bank account.
There are thousands of remittance platforms available on the market. The best money transfer option for you depends on your needs. Do you need to make cheap transfers? Or is the transaction speed most important for your business? Let's take a look at some of the popular customer choices based on reviews and feedback.
It's essential to read some first-hand experience and other business owners' feedback to learn which platform will suit your business needs. Try to check the offer of different companies before settling for one. It's also good to refresh the options once in a while and make sure there aren't any cheaper and better alternatives available.
When it comes to the most popular platforms there is TransferWise, WorldRemit, Remitly, TransferGo just to name a few. Of course it's essential to do some research and read customers' feedback and reviews to get to know the platforms at first. For example here you can read a full article in-depth TransferWise Review . The author break downs their fee structure, explains exchange rates and how to register. The review is good, because it shows both advantages and disadvantages of the company, as you should always try to find a few negative comments to learn about the drawbacks of the service to avoid any unpleasant surprises.
As the majority of people have access to a stable Internet connection modern companies need to be present online in order to reach them, as they don't have to limit the services only to local clients anymore. Moreover, developed global logistics enable delivering any product or service to any place in the world within just a few days.
Although domestic payments are in most cases easy and free, processing international transactions generates some significant fees. You also need to take into consideration exchange rates.
Banks may charge a fee of USD 25 when sending money abroad. Big banks even charge fees for accepting foreign transactions. This is why the entire online market has been developed for independent financial platforms. To name just a few, Monese, Remitly, TransferGo, Azimo and other platforms provide cheap international remittances.
Various online financial platforms are required, including cheap international payments and special offers for corporate accounts. They also allow online stores to be used with systems that use API codes.