Sending Money Internationally? Compare Bremit VS Bank Transfer.
10 reasons why BREMIT can be better than money transfer from a bank.
When you need to send money internationally, or need to make payment for something outside your country, there are already a number of solutions available to you. You can choose to go to the bank and ask to do a swift transfer, or you can pay using a debit/credit card. Both of these solutions take excessive fees and unfavorable exchange rates.
There are limitations on the amount needed to send outside your countries, Sometime you need lots of documentation to submit for transfer.
Even after you have sent it, you don’t know when it will reach there. Bank takes an uncertain amount of days to send money.
Which is the most affordable option if you need to send or receive money internationally? Check out our analysis.
If you are looking to make a one time money transfer or series of regular money transfers internationally, Bremit might be the one you should consider. Here we have listed 10 points to clarify how BREMIT is better than traditional Bank Transfer:
- Real Time Settlement
Unlike bank transfer where it takes 72 hours to week for a single money transfer, BREMIT works on real time money transfer. No need to wait for days to receive your money.
2. Competitive Exchange rate
Banks generally offer comparatively lower exchange rates. For the smaller amount, it may not sound that big a deal but for a big amount it makes really sense. In bremit, We provide the highest exchange rate of the day and additional you can make decisions on exchange rate, you can hold and choose to make payment when the exchange rate is good as you like.
3. Affordable Fees
We are 90% cost effective in terms of fees compared to Banks. Why do you pay an unnecessary amount of fee for money transfer?
We are using blockchain technology, unlike the centralized system. If something wrong happens with the central system, the whole service might be compromised.
It’s your money, you know what exactly is happening with your money. It’s not something like you pay here and wait until everything goes well and another party will receive money.
We know banks ask you lots of documents to submit/receive your money. They will most likely require you to fill out a lengthy transfer form and may ask you for additional information each time you send money. They may also require you to present your ID card in order to validate your identity. We are different. Just Signup and send/accept money
7. Support Bank transfer, Wallet and Cash
Transferring money via the bank will usually restrict you to the sole option of transferring it to another bank on the receiving end, sometimes they ask you to open a new account. Bremit is flexible and easily accessible for all ranges of people. A person can receive a payment in a bank account, any online wallet or cash as per the preference of the individual.
8. Get Reward
Bremit makes the system beneficial to agents, We have our token which we provide to our agents as reward. An agent will receive a token as reward for facilitating the transfer of money.
Agents have an additional benefit of staking, their fund will generate additional income as interest. Bremit will not hold your money.
10. No limitation on amount
Some banks may have special requirements to have at least a minimum amount to be transferred which may not be feasible for smaller amounts. Bremit supports you to transfer as minimum 1 USD.