Imagine the situation: you live in Indonesia while your family members are in Singapore. You hear that your family members need cash for an emergency. You need to transfer money from Indonesia to Singapore fast, but the bank needs three days to send the cash. What is the best solution to help them?
Remittance service is one of the quickest ways to handle the family’s financial emergencies abroad. Find out how it is more beneficial than using conventional banks, and which service you could use.
The Problems of Conventional Money Transfer Abroad
Sending money to your relatives in a different country can be difficult if you use conventional banks. You could expect several common problems, such as:
• Hidden Fees Reduced Amount of Money
When your family member receives your transfer, he or she may get surprised with a reduced amount that seems out of nowhere. This is because banks often charge for hidden fees, which are taken from the money you send for the family member.
• Additional Fees for Unique Currencies
Banks may charge for high fees if you transfer money to recipients that use thinly traded currencies with lesser popularity in the foreign exchange markets, such as Mexican Peso or Thai Baht. Some banks may not be equipped to transfer your money directly to those bank account owners, requiring “intermediary banks” to complete the transactions. It often happens to people who have accounts at small, local banks.
• Marked-up Foreign Exchange Conversion Rates
Most conventional banks pick high foreign exchange conversion rates when wiring your money abroad. They do it to gain maximum profits, which can lead to lower cash received by your family.
Other problems include technical woes, from the late transfer period to the requirement for the recipient to visit the bank. Choosing a money remittance service in Indonesia is a more profitable solution for individual customers.
Money Remittance Service for Family Members in Different Countries
Transfez is a great money remittance service for Indonesian customers who need to send emergency money. With this service, you can help family members abroad who are in the middle of a crisis. Several benefits of using a remittance service like Transfez include:
• Cheap and Transparent Fee
Sending money from Indonesia to Singapore costs IDR75,000 per transaction, and the money arrives on the same day. It helps Indonesian clients to save up to 80 percent for the transfer fee. The money is received in full amount and no hidden fees.
• Competitive Foreign Exchange Conversion Rates
Make transfer money as cheap as possible, we do whatever it takes.
• Easy, No More Queuing
Transfez system is fully supported by mobile devices. You can go through all the steps without going to the bank. Your family members can immediately receive the money at their bank account
How much money can you transfer? There are no specific minimum numbers of how much you can transfer, so you can adjust them based on the needs. Helping your family members abroad has never been this easy.
Sending money for a family emergency requires speed and proper system to prevent cash reduction. Use Transfez to transfer money from Indonesia to Singapore fast, and help your family members to go through their financial problems!