From bricks and mortal banks, to online banking, and now to apps; the way we handle our money is constantly evolving. While undeniably useful, being able to send large sums of money across the world with a few swipes at your phone can seem a little cavalier if you haven’t used a cash handling app before.
With that in mind – and more and more options being developed all the time – it’s important to weigh up the pros of using an app in comparison to more traditional transaction methods, so you can be sure it’s right for you. Here is a brief overview of some of the simplest yet most beneficial reasons to consider trying out an app the next time you need to send or receive cash.
- It can save you money
Moving money direct from bank to bank can be costly – especially where international transfers are concerned. Apps tend to be comparatively cheaper, making them the most cost-effective solution for most users. This is especially true for those who operate a business in multiple markets, and for expatriates who need to be able to transfer money back and forth between loved ones.
- It’s convenient
Whether using apps for business or pleasure, being able to handle payments remotely at any time of the day, and monitor cash flow at the click of a button, is incredibly handy. With user friendly interfaces that bring everything you need to a single place, transfer apps make the handling of finances a quick, intuitive, hassle-free process.
- It’s secure
Given the ever-increasing popularity of mobile banking and tech-based services, security measures have increased dramatically in recent years. App-based transactions are encrypted, and regular updates and bug fixes ensure the software is always offering optimum levels of protection. Better yet, multiple layers of user ID are now required to access most phones and laptops, including facial recognition, fingerprint scanning, and passwords.
- You have more options
If you transfer money direct through your bank, you’re likely to be offered fixed transaction fees and exchange rates. With apps steadily gaining credibility as a viable alternative, the number of options on the market continues to grow, with names like Revolut, Ria, Transfergo and Wise all establishing themselves as reliable platforms.
This means you can essentially shop around for the best deal. Services like Sortter allow you to filter through the options and see tailored recommendations based on your particular needs – taking into account factors such as cost, speed, security, customer support, transfer limits, and unique platform features. This ensures you find the best money transfer app that works best for you, while taking the legwork out of the search process.