How to choose the best international money transfer app

(Last Updated On: January 18, 2022)

 

When conducting international money transfers both within and from without South Africa, money transfer apps have become a highly popular method for conducting payments without the usual red tape of international bank transfers.

You may rapidly and securely send money from one person to another using money transfer applications, generally known as peer-to-peer (P2P) apps.

You have a choice of payment methods like cash payment, EFTs, or Debit/Credit Cards, making payments easier. With only a few clicks on your mobile device, you may complete electronic transactions and payments.

The top money transfer applications have a good rating in the app store, enable users send money safely, and don’t charge any additional costs throughout the transaction.

International payments and social choices, as well as virtual wallets and other features, are all catered to by them.

With so many apps to choose from, we explore the most important aspects to consider when selecting a money transfer app for international money transfers from South Africa.

 

Money transfer apps should have global capabilities

When choosing an international money transfer app, you should find one that is able to link transfers to as many countries as possible. This will allow you to establish the most effective global payment network possible.

Added to this, the app should be able to facilitate immediate remittance to cash pick-ups, mobile wallets, and even bank deposits on a global basis.

 

Find an affordable money transfer app

One of the great assets of using a transfer app is that they are typically more affordable than traditional banking institutions, particularly when transferring money globally.

Experienced and well-established transfer app providers should provide their services at the most competitive rates on the market as possible.

 

Make sure the app can transfer money quickly

Time is money, as they say. You want to find an app that allows you to quickly begin using its services without a lengthy application process and unnecessary red tape.

Ideally, once your registration is declared a success you should be able to send or receive money within twenty-four-hours.

 

Security is critical when choosing a money transfer app

With the world being more connected than ever, so much of our personal data is vulnerable to hacking by cyber-criminals. As such, individuals are particularly at risk to this type of criminality when transferring money internationally.

That is why it is vital to find a money transfer app which securely protects your information by any means possible, and which states that it will not share your personal information without your consent.

 

Find an app that accepts a wide variety of payment methods

To truly get the most out of your money transfer app, you should find one that is broadly competitive with as many different payment methods as possible.

Whether it be most types of debit or credit cards, cash payments or EFTS ideally your transfer app should be able to do it all.

 

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