There were days when transferring money across continents was a highly convoluted process. At that time, no one would’ve thought that there would come a time when money transfer would be as easy as swiping screens and tapping on them a few times?
Similarly, these services are making it easier to transfer money internationally while on the go with least complications and steps involved. Back in the year, 2015 Australians paid three times more in fees by failing to compare the rates whereas today a survey by a Commonwealth Cank found that 2.4 million Australians; approximately 10 percent of the total population, are sending money internationally every year.
And with these rising numbers of users, and mistakes of the pasts, have emerged of the large extent of innovations. Let’s have a look at some of the most futuristic trends in the niche:
- Some of the most noticeable international money transferring services are now offering the chance to transfer the funds directly to a local bank account to one overseas. Moreover, there are services like WorldRemit international fund transfer that even allows a cash pick-up centre and also a chance to use their mobile wallet for the purpose. Something the people of the past died wishing.
- Social media is another emerging trend in the international money transfer field and it is hardly a surprise. It is definitely impressive but not a revelation to anyone considering the fact that it has already become a hub of the online business transaction. It has become a humongous platform for businesses and brands alike to find what they need within reach and to a satisfactory level. And now social media is showing the potential to offer a social payment feature through the messaging app.
- It has also proved to be a useful means of payment for the employers of freelancers and business owners. The peer-to-peer transfer options e endless including names such as Venmo, Snapcash, Twitter, Instagram, Pinterest, Buy Buttons, Bitcoin Wallets, and more.
- Who’d have thought that there would actually be a time when people will gladly stare at the numbers while your work and go about your day? But that’s exactly some services do with their rate watchers. They ask the clients about their specific currency rates and then the rate watchers wait and see for the numbers to come in their clients’ favour.
- Gadgets have also been involved in the market of international money transfer. The money transferring apps syncs nicely with the wearables and then works wonderfully for the individuals. A voice command or just a few sweeps can your money across the ocean without much fuss.
- Some of these apps even keep you informed with their constant notifications and help with tracking the payments. TranferWise is one such app that only charges a small fee and is 90% cheaper than any bank transferring service. Along with World First, these two also never fails to inform the users how much they are saving by utilizing their services.
These trends are just the beginning stages of further, more ease-providing international money transferring services.