Top 5 Remittance Services for Money Transfer

Remittance is an essential part of any country’s economy. Many individuals reside away from their homes for better opportunities and earnings in this ever-expanding world. For their families, remittances play a very important role. Millions of individuals transfer funds to their families daily, weekly or monthly using different remittance service providers. 

In this article, we’ll discuss different remittance services to see what they offer.

Top 5 Remittance Services for Money Transfer

Following are some of the most reputed remittance service providers used by several customers.

MoneyGram

MoneyGram is a remittance service through which funds can be transferred globally. The company has been providing its best financial services for about 50 years. It is trusted by millions of its customers who send remittances to their families in different parts of the world. The transfer limit is $10,000 per transaction and a monthly limit of $10,000. 

Remittance: Transfer and Receiving

To transfer funds, you can either visit any of the MoneyGram agent’s locations or use their mobile application, and with the help of a debit/credit card, you will be able to do so.

All you need to provide is your identity proof and the receiver’s information (ID, Driver’s license or passport), and you will be good to go.

To Receive a remittance through MoneyGram, you will need to provide your ID and a reference number that you will get from the sender, which is also mentioned on the transfer receipt.

In bank transfers, the recipient does not have to provide any information.

Western Union

Western Union has been providing money transfer services and making lives easier for many customers around the globe. This remittance service helps millions send or receive funds in over 200 currencies. Western Union has also partnered with well-known retail stores like Walmart, Kroger, and Rite Aid Retail and allows customers to visit the stores and transfer funds, purchase money orders, or pay bills.

Any Western Union customers having issues with sending money transfers can send a request at gcr@westernunion.com to troubleshoot the issue.

Remittance: Transfer and Receiving

You can initiate remittances by visiting agent locations or online. All you have to do is to provide an identity proof document, the country you are sending it to and the receiver’s information.

Funds would be transferred within minutes and picked up from the nearest agent locations or banks with a western union.

Wise (TransferWise)

Wise, formerly known as TransferWise, is a London-origin remittance service founded in 2011 and allows customers to transfer funds to more than 80 countries. Wise allows customers to send money, receive money, exchange currencies, and pay bills. Another great feature that Wise comes with is that it enables customers to make purchases from global stores without paying higher and additional fees or charges. You will also receive an immediate 3-d authentication text once you have made a payment or sent a remittance.

Remittance: Transfer and Receiving

For Wise, you will also have to provide valid basic information about yourself and the person you send it to. You can also send the funds directly into the bank account. It is also easy for the receiver to get the funds directly into their bank account.

World Remit

World Remit was established in 2010, and since then, it has provided fund transfer services to millions of customers worldwide. The company has a prominent place among its competitors and has been offering several services, including bill payments, pre-paid top-ups, mobile money and direct bank transfers. It operates in more than 120 countries and in 70 different currencies.

Remittance: Transfers and Receiving

The process of sending and receiving remittances has been made quite easier. All you have to do is to create an account, enter the receiver’s details, enter the amount you want to send and select a receive method. The sender can also transfer the funds directly into a bank account.

To receive remittance, the receiver must provide Identity proof and a transfer reference number. The amount gets transferred within minutes and can be picked up right away.

Ria Cash

Ria Cash is another remittance service founded in 1987 and is quite popular among customers around the globe. Headquartered in California, United States, the company has 470,000 agent locations in 159 countries worldwide. Ria Cash allows customers to transfer funds, receive funds and pay bills easily with a mobile application.

Remittance: Transfer and Receiving

Ria cash allows you to send remittances to hundreds of locations around the globe. For a successful transfer, you will have to provide the recipient’s name, your relationship with the receiver and cash. The receiver will be able to pick up the cash by providing the Money Transfer Control Number (MTCN) at the agent’s counter, and that’s it.