If you’re one of the 800 million people that send money to their loved ones overseas, then you might be unfamiliar with apps to send money. However, there should be no hesitation in using an online app to transfer money. The SWIFT system to send money internationally and communicate between banks across the world was invented in 1973. As such, people sending money can rest assured, knowing that the practice of sending money internationally through apps is well-trusted!
Nowadays, it’s easy to find apps like the Ria Money Transfer app, that are made specifically for people sending money overseas. If you want to learn more about how these apps work and if they truly are the future of bank transfers, read below to get the scoop on online international money transfer apps!
How Do Money Transfer Apps Work?
Before sending money with an app, you will need to verify your identity and submit certain documents so the app knows where the money is coming from. You might also need to provide information from your banking institution, as well as information from the bank to which you are sending money.
This banking information makes it easy for you to transfer money to your loved one. Using these types of apps will help you shorten the time it takes to send money, as well as make less room for error. In traditional shops where you need to transfer money using a pen and paper to physically write down banking information. Not only is this less secure than doing it online, but it also creates more room for error.
Money transfer apps get rid of those errors, and instead rely on cyber technology to keep your information secure and initiate transactions securely!
Why Not Use Venmo or CashApp?
Unfortunately, not all apps for money transfers are made for international use. Many Americans now use Cashapp or Venmo to send money to their loved ones within the United States. You can even send money to strangers simply by inputting their information, such as an email address or user name!
While this is one of the easiest and fastest ways to send money, it is also one of the most unique to the United States. You won’t be able to use the power of these apps internationally, but hopefully one day you will soon! In the meantime, it’s best to stick with an app that is designed specifically for online money transfers made overseas or to other countries such as Mexico and Canada.
Why Not Use Western Union?
Perhaps one of the most trusted money transfer businesses today is Western Union. Western Union has shops located across the United States, where people can go in and send money to their loved ones through wiring services. They also have an app available online, so you might be wondering…why not use them instead?
The unfortunate truth is that their app is designed only to prepare your wiring service before you head into the store. While you can use the app to set up your transfer, you will still need to visit the store after you input all of your information.
On the other hand, using an online money transfer app like Ria makes it easy for you to send money online or through your phone. Since this app is installed on your phone, this means you can keep track of your transfer wherever you are, even if that’s in another country!
Overall Benefits of Online Money Transfer App
In short, using an app to make online money transfers is one of the best choices for busy people that need to keep track of their transfers, want to send money instantly, and also need a secure way to do so.
Although there are many helpful apps within the United States, these might not be available to send funds internationally. Therefore, it’s best to use a dedicated online money app that streamlines the process of sending money and makes it easy for your loved one to receive funds.