Success Stories

Make Sure You Get The BEST DEAL When Sending Money Home

Make Sure You Get The BEST DEAL When Sending Money Home

Sending money home is not really a major issue but difficulties mostly arise from the differences in the exchange rate and the fee for sending money, thus creating headaches when trying to send money anywhere.

One of the financial messages I remember seeing on MoneyPACIFIC was “Make sure you get the BEST DEAL when sending money home”.  This message has made my family and I change our old norms of sending money.  Earlier, we would just go to the nearest money transfer agent and send money despite the foreign exchange rate and fees for sending money for that particular day.  The money transfer agent we usually chose for that particular day and time depended on its convenience to us in terms of proximity to home or work, or whether we knew someone who worked there that could process the transfer faster.

Out goes the old and in comes the new.  Old habits have been changed.  We no longer send money home just out of the blue or by convenience, but with a lot more effort than we did before.  We check on, and then call all local money transfer agents asking for their rates of the day and fees, and successively we make a comparison list determining which money transfer agent offers us the BEST DEAL.  In some cases, delivery time won’t matter as long as the money gets home and when this is the case it usually results in extra savings/money for either sender or receiver.

The only extra costs that we’ve came across is the time taken up for making phone calls enquiring about rates and fees, and also being put on hold by operators, etc.  However it is still less cost compared to what we can save from foreign exchange rate and fee differences, and most importantly it increases our self-confidence knowing that we’ve got the BEST DEAL.

Our family has now ensured that we’ve got the best deal around before sending money anywhere.  It has saved us from extra costs; costs that can be eliminated and are avoidable if we make the right choice.

The cost saving is not material, but it makes a significant difference if we add up all the costs that we could save in one year.  You’ll be very surprised at how much you could save just by ensuring you’ve got the BEST DEAL every time.  My family and I now have extra savings that we can use on other expenses and that we would not have known of, if it wasn’t for the MoneyPACIFIC smart tip, “Make sure you get the BEST DEAL when sending money home”.

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