At some point, we all need to transfer money. Whether it’s locally within our countries, or to other foreign lands, you need a reliable money transfer app. The question is, with all of the numerous money transfer apps in the world, which one’s right to use? And hey, you may already have a pick in mind, but the thing is that you can select a money transfer app that’s not well-suited for the African market.
Whether it is bills or you just want to send money to your loved ones in Africa, you need a reliable money transfer app. When selecting a money transfer app, there are certain factors that you need to consider. But first, let’s learn a little bit about what money transfer apps are.
Information on what a Money Transfer App Entails
It is best to understand what you’re discussing before going deeper into the details. So, first, let’s learn one or two things about what a money transfer app is and what it does. For starters, this is an application that you can download online.
The app can allow you to transfer funds to other people, family, and friends within and without your country. You can also send money to businesses for investment if you so wish. Such apps are free for use and you can easily download them from both android and iOS devices.
They make sending and receiving money a breeze, no matter the location. The apps also have effective security features that ensure your money is safe at all times.
What to Consider When Choosing a Money Transfer App
Due to their immense popularity, money transfer apps have become so popular in the market. They have flooded our app stores and social media pages competing for market share. Thus, it can be a hustle to choose the right one.
The reality is that there are numerous options to choose from when it comes down to a money transfer app. It all depends on your preferences and the currencies you want to use. The country you are in and the one you want to send money to may also matter when you’re making a decision. This is because not all apps have the capability to make money transfers globally in all countries.
When it comes down to sending money to Africa, you have to be cautious of which money transfer app to use. Nonetheless, there isn’t a one-size-fits-all when choosing a money transfer app. So, here’s what you need to keep in mind at all times:
Cost of Transfer
How much are you going to spend on transaction fees when moving money from one point to the other? Is it a figure that you’re willing to part with when using that specific money transfer app?
If you have conducted an international transfer, then you probably have encountered your recipient getting lesser amounts than what you sent. This happens due to the transfer fees. They eat into the initial amount that you send to that individual.
When you intend to save, check out all of the transfer fees from your chosen apps and compare them. Find one that suits your needs and helps you cut down on costs. Different apps have distinct transfer fees and exchange rates. Therefore, you need to be wary of this when making your choice.
How fast does the money transfer app move funds when you initiate the transaction? Sometimes, you need to send money to a recipient urgently due to an emergency. Will the funds get to them in a timely fashion? Or will they have to wait for ages just to receive those funds?
Not all money transfer apps have the same speeds when it comes to delivering funds. Some are really slow, others medium in speed, while the rest are considerably fast. So, the choice of which depends on the speed of your transaction.
Some apps have same-day transfers due to their swift money systems. Find out this factor before settling on a preferred money transfer app.
This is yet another integral factor that you need to consider whenever you’re choosing a money transfer app. Not all money transfer apps are present in every part of the world. It’s important for the app you choose to be present in the country you want to send money to. Otherwise, the entire transaction will be in vain, hence, a waste.
Preferably, choose a money transfer app that has wide geographic coverage. It should also have the capability to handle the currency of the designated country of your choice. This, at least, should be your duty to confirm before downloading.
Best Money Transfer App
That said, the best app that matches all of the above features is the Afriex money transfer app. At least, out of the many apps that we have analyzed, this is the one most suited to send funds to Africa.
While there may be other money transfer apps in the market, the Afriex app is the one that takes centre stage when moving funds to African states. Always ensure that you make the right choice. Money transfer is a critical and emotive issue, which you need to take care of.