Money Transfer Service Providers Over Banking

MONEY SERVICE PROVIDERS OVER BANKING Which is better for you? Digital remittances are set to overtake non-digital remittance in the next few years. Online Money Service Banks Providers Service • 24*7 availability Availability during operating hours • Instant & secured transfers • Global assistance • Various options of transfers Higher rates & lower fees • Less Overhead • More Overhead • Low fees • Low exchange rate but high • Transparent cost Banks were the most expensive remittance 2$ channels, charging an average fee of 11 percent in the first quarter of 2019. Speed • Instant Transfers • Time taking transfers Convenient • Send money (cash pickup, mobile wallet, • Deposit money Deposit money home delivery & bank • Check balance transfer) • Transfer funds • Secure funds transferred • Wait in line • Check status • Travel to a bank THE TRANSACTIONS THAT OCCURRED THROUGH DIGITAL MONEY TRANSFERS WORLDWIDE IN 2018 AMOUNTED TO 64,173 MILLION US DOLLARS. AN ANNUAL INCREASE OF 15.9% IS EXPECTED TO A TOTAL OF $ 143,096 MILLION BY 2023. THE MONEY TRANSFER OPERATORS SEGMENT DOMINATED THE MARKET AND ACCOUNTED FOR MORE THAN A 40.0% SHARE OF THE GLOBAL REVENUE IN 2020. Source- www.atlmoneytransfer.com