We want to inform you about all money transfer options available
Money transfers can be cheap, expensive, fast or even slow. Transferring money can be done through the mobile phone or by visiting an office. This all depends on the country you want to send the money to, and the type of money. Sending cash with a mobile phone may not even be the easiest form of sending money. And what if you actually don’t have a bank account? What options are available then?
Persons from Africa face all kinds of challenges when sending money back home. If you have a bank account, a mobile phone and internet-connection there are many options available for you. Well known examples with the lowest fees include Transferwise, Azimo and Worldremit. Still many person rely on expensive, bureaucratic and slower money transfers companies such as Western Union and Ria where you end up paying more in terms of fees and in terms of lousy money exchange rates.
For these situations, there are many good alternatives available. More and more alternative companies with new solutions keep on popping up. Not just in Europe and the USA. But also in the African continent itself. There is not only African people in Europe sending money back home, but also in Africa there is a lot of migration, and people living and working in other countries.
Transferring Money without a Bank Account
But what if you don’t have a bank account? What options are available for you? The problem you will face in this situation is that the options are rather limited. Sending cash money through agencies means you pay quite some commission. Sometimes in these cases you could also find other ways of sending money, e.g. through cryptocurrencies and virtual bank accounts.
Making transfers via cryptocurrencies such as Bitcoin can be a good choice for reliable money transfer. Many people have no idea how to send bitcoin or any other cryptocurrency. But it can be relatively simple and it is a good alternative to other current types of money transfer.
All one needs to do is buy Bitcoin have it send to the personal digital wallet of the person receiving it. If the person wants to exchange the Bitcoin for cash of fiat money, then all that needs to be done is sell the Bitcoin. Many services are available for all this but you can also easily send money by doing a Bitcoin transfer by yourself. We want to help our visitors with making the right choices for the best services.