For those looking to send money abroad, the transfer of funds on time can be of great importance in order to meet their financial requirements. This is precisely why you need a reliable International Money Transfer Service. A professional foreign exchange service can help you by providing a smooth and secure Money Transfer service.
Finding a Reliable Money Transfer Service
Finding a reliable and reputed service should not be much of a problem though it can be quite confusing for the uninitiated. This is because there are a number of options that you can choose from. Quite often, people use banks for various purposes like paying utility bills, retail stores, etc. Banks also help in transferring your funds from one bank to another. This is one of the reasons why people choose banks for transferring money abroad too.
Are Banks a Better Option?
Banks offer a variety of such services that include forex services at current money exchange rates. However, banks come up short when it comes to customer care and quick service. Normally it takes about 48 hours for the money to reach the destination. This means the receiver's account gets credited with the transfer two days after you have sent the money. There are instances where money has reached well beyond 48 hours resulting in huge losses for the receiver as well as the sender. Banks are a good option when you do not have any time constraints, otherwise it is better to look for other options.
Other Options
If you have an emergency situation to meet, then you have multiple options for transferring your funds. Today, you have various financial institutions, currency brokers, money exchange centers, private banks, etc. These organizations provide Money Transfer services that are faster and more secure than ever before.
They use the latest SWIFT technology to speed up the transfer process. Institutions using this technology are assigned an access code known as BIC or Bank Identifier Code. Also known as SWIFT Code, it comprises of the Bank Name, Name of the Country it belongs to and the Name of the City where it is headquartered.
Another option that you can use to transfer funds quickly is through International Bank Account Number or IBAN. This helps identify bank account numbers from different parts of the world, thereby enabling your bank to provide transfer services at current exchange rates. Lastly, whichever option you choose, make sure that you use a reputed International Money Transfer Services to transfer your funds in a secure manner.
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