5 Tips for Choosing a Safe and Reliable Money Transfer Service

As times change, money transfer services in Indonesia are becoming more and more widespread. Many companies, both local and international, now offer these services. The growing number of providers gives consumers a wide range of options for sending money.

Be Cautious When Choosing a Money Transfer Service

Unfortunately, having more options doesn’t just offer convenience; it also brings new challenges. People now need to be more selective when choosing a service provider. This is especially important because some services can be risky, and in some cases, even fraudulent.

That’s why it’s crucial to stay alert and careful. Below are some key tips to help you choose a safe and trustworthy money transfer service:

1. Licensing

The first thing you need to check is whether the money transfer service is properly licensed. Verify if the service provider has official authorization to operate. If it doesn’t, it’s safer to look for another option. Also, make sure the license number displayed is authentic and issued by a reputable authority.

2. Administrative Fees

Once you’ve confirmed that the service is licensed, the next factor to consider is the administrative fee. Is the fee charged to customers high or low? You can compare the fees of different services and choose the one with the most budget-friendly rates.

3. Hidden Charges

In addition to administrative fees, be aware of any additional or hidden charges. Ask the provider if there are any extra costs involved. If you overlook this, the amount you end up spending on the transfer could be much higher than expected.

4. Transaction Speed

Transaction speed is another important factor, especially if you’re sending money to someone abroad. For domestic transfers, the money should arrive in a short time. However, international transfers can take a full day or more.

That’s why you should ask the provider how long it usually takes for the money to reach the recipient. You can also check online reviews to see how fast the service actually is.

5. Service Coverage

Lastly, don’t forget to check service coverage. Does the provider support transfers to a wide range of banks, or only a few? This is especially crucial for international transfers, as some providers may not support certain countries.

See Video on How to Easily Send Money Abroad with Transfez

Send Money to 70+ Countries Faster and Easier

Transfez is one money transfer platform that ticks all the boxes above. With affordable fees, fast delivery, and service coverage to over 70 countries and 30+ currencies, Transfez offers more flexibility and ease when sending money abroad.

Those are some key points to consider when choosing a money transfer service. Making a careful decision can help you avoid excessive fees and even protect you from scams. Hope you find this helpful—see you in the next article!

Download Transfez App

Transfez App can help you transfer money abroad more quickly and efficiently. Jack Finance can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.