Choosing the right money transfer provider

Do you need to send money to a friend or family member in another country, pay a bill overseas, or make a purchase in a different currency? From there, it’s easy to form the logical conclusion: you need a way to exchange your currency and send your money to that other country.

What are you looking for in a money transfer?

There are many aspects to sending money overseas. There’s the process of exchanging one currency to another, there’s the travel from your account to your recipient, and it’s also worth considering how efficient the process is as a whole.

Ask yourself:

  • Are you looking for the best exchange rates?
  • Are you looking for the option that will send your money to its destination the most quickly?
  • Do you want a quick, easy online experience so you can take care of your transfers in a snap?
  • Do you want the peace of mind of working with an established brand?

Knowing which of these is your priority will help you to figure out which provider is the best fit for your transfer.

What impacts transfer speed?

If you’re paying a bill, sending a holiday gift, or trying to help a friend or family member out in a difficult situation, a money transfer that travels quickly and gets to its destination when it’s promised is key.

There are multiple things that can influence how quickly a money transfer travels, such as:

  • The payment method you choose
  • Holidays or bank closures
  • Your provider requiring additional documentation
  • How quickly your recipient’s bank can process the transfer

As you shop around for providers, pay attention to their transfer timings. At Bakaal, our money transfers typically arrive within 1-4 business days, but many reach their destination within 24 hours (and some countries take just minutes). We’ll always confirm when your transfer will be sent and when it should arrive before you confirm your transfer.

Is it easy to do?

We’re long past the days of leaving your house, driving to the bank, waiting in that endless line, and filling out form after form. Nowadays, many providers offer online services that you can do from the comfort of your couch, any time of day.

At Bakaal, we want to make it as simple as possible to send money. To make it even easier you can download our App by clicking any of these links. 

Download Bakaal App from Google Play bit.ly/3d0cWBw  or App Store apple.co/2P2WvMI

What are the signs of a reputable brand?

It can be nerve-wracking to trust a company with your money and your personal information. Many people opt to use their banks for their money transfers because they already know their banks and trust that they are legitimate. While banks are a perfectly safe and reliable way to make your money transfers, they may not always be the most cost-effective method. But how do you know when an online money transfer provider is as trustworthy as your local bank?

As you research money transfer providers and examine their websites, keep an eye out for some of these signs of a reputable business:

  • A secured website
  • Information about the company and its history
  • A way to easily contact the company
  • Reasonable pricing (remember what we said above about comparing prices across providers)

Reviews or testimonials are also a great resource for assessing a brand’s reliability and customer experience. 

How does Bakaal stack up to the other providers?

Over 1 million customers around the world trust Bakaal with their international money transfers. What makes those customers choose Bakaal over the others?

  • Favorable transfer rates, so you can trust that you’re getting the most for your money.
  • Fast money transfers, reaching some countries within minutes.
  • A quick and easy process, which you can handle entirely online 24/7, 365 days a year.
  • Numerous transfer options, so you can send your money in the way that best suits your situation.
  • Currency tools and resources, so you can stay up-to-date on your choice currencies.

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