Sending money to and receiving from relatives abroad a problem? Worry no more, check these 5 top mobile applications changing the game of remittance across the globe.
You need to transfer money internationally right away. You have a smartphone or a tablet in your hand and are looking for the right app for foreign money transfers.
We’ve got you covered, don’t worry.
Here’s a rundown of the best currency exchange applications, so you can choose the best one for your money transfer.
Previously, Western Union and Money Gram used to be the most used and reliable means of sending and receiving money internationally in Ghana. Western Union and Money Gram still exist but for the sake of convenience, everyone will definitely prefer a tap to send option on their smartphones than spending hours in the banking hall to send or receive money abroad.
Best Mobile Apps for Money Transfer
- Western Union
Wise Money Transfer Mobile App
This organization is an online money transfer service that provides a low-cost and fast method of sending money internationally.
Wise is the best option for sending small amounts of money (under $7,500) using a quick, direct, easy, and safe money transfer service.
Fees and exchange rates in the app. Wise provides exchange rates that are exactly the same as the base rate, making it as good as or better than any other money transfer service. Their fees are also very modest, usually ranging between 0.5 and 1% of the total transfer volume.
Remitly Money Transfer Mobile App
This service is a remittance-focused online money transfer business. They’re particularly useful for quick transfers to Asia, Africa, and South America.
Remitly uses their well-designed mobile apps and website, you can send money quickly and easily. Since there are no minimum numbers, they are ideal for lower-value transactions. They’re a good option if you’re sending $5,000 USD or less.
Fees and exchange rates in the app
Remitly offers attractive exchange rates and fees, but they are not as low as those offered by some other currency exchange companies.
Transfer restrictions; Although Remitly doesn’t have a lower transaction such that, you can’t send more than $10,000 USD or equivalent in most cases, with some currencies having lower limits. Furthermore, they do not provide assistance with company transactions.
OFX Money Transfer Mobile App
OFX is a specialist foreign exchange provider and offers personalized support for you to get the most out of your currency exchange. OFX is best for transfers of larger amounts, typically $7,500 USD equivalent or more. App exchange rates and fees
Their exchange rates and fees make them more costly than other suppliers for smaller quantities. When sending larger quantities of money, their exchange rates become very favorable, and their fees remain low.
OFX has a $1,000 USD or equivalent minimum transfer cap. OFX does not have a cap on how much you can submit in most currencies. An upper limit will be extended to currencies from such countries.
Western Union Money Transfer Mobile App
Western Union is the world’s largest money transfer company. They have over half a million agents worldwide, but their fees and exchange rates are not very attractive.
Western Union is the best choice for money transfer internationally. Unfortunately, Western Union’s payments are difficult to comprehend and measure.
Depending on the programs you choose to use, Western Union has limitations on how much you can give. The upper limits are usually between $500 and $2,500 USD, but they can vary depending on the country, currency, and service.
Western Union does have limits on how much you can send, depending on the countries and currencies you’re exchanging between. These limits are normally very generous and will meet the needs of most users.