In the past, to transfer money, it was necessary to go to the post office and fill out a receipt to transfer the money. In this case, the recipient had to wait anywhere from 3 days to several weeks before their money arrived.
Today, thanks to electronic payment systems, a money transfer operation takes a few minutes. At the same time the money can get to the recipient’s account very fast: it takes from several minutes to several hours.
There are different ways of placing an international money transfer. You can send money through the mail, go to a bank, or use digital payments. All of these methods transfer your money to the recipient at different speeds and at different rates. When choosing a method of transfer, you should consider such limits as the amount to be transferred, the location of the destination, and the time in which you want to send the money. You can then choose the payment system which suits you the best.
Sending by mail
Consider the first method of sending money by mail. At the moment, this is a rather rare and old-fashioned procedure. One of the perks of a postal transfer is the almost limitless amount of money to send. However, this is not enough to be considered a good way to send money, to do the high risk of loss or theft.
Moreover, it has its disadvantages in the form of a complicated process of sending and a long waiting period of money.
For the most part, this method of sending funds is never used anymore in the majority of modern countries.
Bank transfer
Transferring money through a bank is the most common way to send money. The reason is that banks offer high security and the ability to transfer money almost anywhere in the world.
However, when it comes to speed, bank transfers can be unreasonably slow, sometimes taking up to 5 days. The fees associated with bank transfers can also be relatively high – from 2%. In addition, not all banks offer the service of transferring money abroad over the Internet. Another disadvantage is the fees of intermediaries, which cannot always be predicted. In other words, the sender does not know how much money will reach the addressee. In years past, customers had no other options and simply had to pay what the bank requested in order to make the transfer, there are now newer options available.
Digital money transfer services
And finally, what is the fastest way to send money internationally?
Let’s move on to something more modern for transferring money, which is rapidly gaining popularity. Sending money to foreign accounts via virtual transfers is notable for its efficiency. This is done through specialized digital services, just like Cashero offers.
The convenience of such transfers is that they can be made at home via the internet, or even a mobile app. When it comes to making transfers, they can be made instantly with only minimal information needed to start the process, sometimes requiring only the intended recipient’s email.
Among current digital services, Cashero is one of the most attractive options on the market. The whole procedure takes no more than a few minutes, after which the amount is instantly transferred to the recipient’s e-wallet.
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As of the date of publication, the information contained on this page is deemed to be factually accurate for all terms of conditions, features, and fees. Changes made to Cashero’s terms of conditions, features, or fees after the publication of this content may not be accounted for.
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The Cashero App is now available for download in both the Apple App Store and Google Play Store, though not all features are currently functional. Cashero has not yet officially launched.
