Whether you have a career or study abroad, sending or receiving remittances is certainly an activity that is often done. The term remittance itself refers to the service of sending money in the form of foreign exchange. This financial service can be done from one account holder to another—or from the same account holder. Remittance process is further provided from one region to another, both in one country and across countries.

Remittance services are increasingly needed now considering the increasing number of Indonesians studying or working abroad. Also, the emergence of Indonesia online remittance services will greatly help people who have relatives living abroad.

Indonesia Online Remittance: Things to Consider

Indonesia Online Remittance
Indonesia Online Remittance: Alternative Way to Send Money Overseas

As a method of sending money in foreign currencies both overseas and within the country, remittance services are very helpful. It also makes it easier for Indonesian workers abroad to transfer money to their families and vice versa.

What's more, now remittance can be done online, so the procedure for sending money overseas has become simpler. The presence of remittance services can support people who live in remote areas too—especially for those who have not been touched by banking assistance.

However, to make everything as clear as possible, here are some points to bear in mind before you pick an Indonesia online remittance service.

·         Always check out the exchange rate and fee

Banks usually promote low-cost or even free transfers, but in fact, it adds a hidden markup to your exchange rate. Please note that your received funds, of course, need to be converted. Also checking if there are any surcharges for receiving the funds to your account.

·         How long does it take to receive a transfer from overseas?

It is one of the crucial points you must consider before choosing an Indonesia online remittance. If the receiver needs the fund as soon as possible, choose a remittance company that offers fast-received transfer services. Also, the processing time for funds transfer depends on the provider you choose. Banks typically charge 2-4 working days for withdrawing money from overseas.

Transfez, a Remittance Trusted in Indonesia

Indonesia Online Remittance
Indonesia Online Remittance: Alternative Way to Send Money Overseas

As for your convenience in transferring money abroad, there is a mobile and web-based remittance service called Transfez. When using a remittance service from a regular bank, you will be charged up to USD30 per transaction. However, by utilising this Indonesia online remittance service, you can save up to 80%. Moreover, the money you send is received in full by the recipient or no hidden fees.

Carrying the motto "Making money transfer easy", Transfez also makes money received faster. For certain countries, the fund can even be received in real-time. Meanwhile, when you go with remittance services at regular banks, your money can be received after 2-4 days.

As a trusted online money transfer service, the Transfez's smart system is wonderfully simple and sophisticated. You will find an automatic end-to-end process such as the on-boarding, e-KYC, disbursement, live currency and tracking.

By using Transfez’s remittance service, you also don't need to queue at the bank or go to the counter because all transfer processes can be completed through your smartphone. Plus, Transfez always offers a competitive FX rate, which is one of these remittance service's highlights.