You love your family—and you’re fully committed to supporting them.
While your dedication isn’t up for debate, your strategy might need fine-tuning.
One question comes to mind: what’s the best international money transfer service? With the right answer, you’ll walk down the path to financial empowerment.
In this article, we will unpack the secrets of fees and exchange rates, discuss the role of speed and convenience in global remittances, and address the power of trust in the digital sphere.
Finally, we will reveal the one remittance service that delivers the affordability, convenience, and security you need.
Let’s get started.
The True Cost of Sending Money Home
When it comes to international money transfers (aka remittances), it costs money to send money.
It’s part of the deal.
In every international transaction, two expenses are at play: fees and exchange rates. While every remittance company sets these costs, some providers charge far more than others.
Knowledge is power. In the modern economy, you need to be equipped to identify what’s “fair,” especially in a world where hidden fees are increasingly common.
When searching for the best international money transfer service, the following information is key to reducing your expenses and maximizing your financial contribution to loved ones back home.
Understanding Fees
What is an international money transfer fee?
For the consumer, it’s the upfront cost of sending money home: it’s a tax.
For the remittance provider, it’s a primary source of profit: it’s income.
Transfer fees come in multiple forms, including flat fees (i.e. $5 per transaction) and percentage-based fees (i.e., 1% of the total transaction cost).
Variable fees are also common and incorporate factors including:
- Destination country
- Transfer amount
- Payment method
- Promotional offers
Why does knowing the fee structure matter? Simply put, because some companies obscure the true cost of a transfer until it’s too late.
Hidden fees are costly. Whether you’re sending $50 or $500, you deserve to maximize the value of your transfers (and hard-won labor).
That’s why uLink ranks among one of the most trusted remittance providers. We always show you exactly what each transaction costs (long before you press “Send”).
Throughout the year, we offer flash sales with better-than-market exchange rates. Plus, you pay $0 fees for transfers over $500 (in select countries), and much lower fees and preferred rates when you pay for your transfer using the built-in e-wallet.
Understanding Exchange Rates
While knowing the fee structure is important, knowing the exchange rate is paramount.
After all, exchange rates play the biggest role in determining how much money your family will actually receive.
In this arena, a few questions must be answered:
What is an exchange rate?
An exchange rate is the value of one country’s currency when traded for another.
For example, 5 US Dollars equals 4.26 Euros (at the time of writing). If listed on a stock ticker, this rate would be presented as 5 USD = 4.26 EUR.
Exchange rates are always in flux. That’s why some remittance companies set a “Daily Rate” to provide a clear benchmark for customer transactions.
How are exchange rates determined?
Exchange rates are predominantly set by the forces of supply and demand in the global foreign exchange market (forex).
The forex is where currencies are bought and sold 24 hours a day, 5 days a week.
As for the primary economic factors in supply and demand? Inflation rates, interest rates, and a country’s economic health (like its GDP and debt levels) all play important roles.
How do banks determine the “fair value” of an exchange rate?
Financial institutions routinely identify the midpoint between the buying and selling prices of two currencies in the forex.
This is called the mid-market rate, and it represents the purest value of one currency against another (before fees or markups).
Think of it this way: the mid-market rate is like a wholesale commodity—before it gets bought by a business, branded, and sold to the public at a higher rate.
Why is it important to know the mid-market rate? Because you can compare it to the rate offered by a remittance provider.
Unfortunately, the mid-market rate is not available to individuals and businesses. Instead, it’s simply a benchmark for financial decision-making.
While all companies will add a markup to the mid-market rate, some can be predatory.
Thankfully, free mid-market tools can help you figure out what’s fair (and what’s not).
uLink always offers competitive exchange rates. Why? Because we’re committed to helping you send as much money home as possible.
Speed and Convenience
When transferring funds, you deserve to know when the money will arrive.
Any ambiguity will steal peace of mind from both you and your recipient. This is especially true during an emergency, when receiving funds quickly and securely is nonnegotiable.
That’s why uLink offers multiple transaction methods and delivery times.
Need to get money home fast? Transfers made using a credit card, debit card, or e-wallet are mostly available within 30 minutes to 1 hour.
When time isn’t a factor? Transfers made using a bank account (ACH transfer) are available within 4 business days in most cases.
But that only represents one layer of our commitment.
In times of trouble—such as natural disasters—uLink promotes affordability with zero-fee promotions to help customers in times of need.
It’s all part of our mission to provide the highest (and most human) standard of service in every season of life.
Delivery speed is important, but so is the efficiency of completing transactions.
You need to have confidence that you can easily move money from A to B at any time of day.
Thanks to digital devices, you can do exactly that. In fact, you send money almost anywhere in the world with just a few quick taps.
That’s why uLink built the ultimate remittance SuperApp for immigrant families: so you can send transfers to over 70 countries worldwide, including hard-to-reach areas.
We’re taking convenience to the next level.
In fact, once you create an account, you can transfer funds using the uLink SuperApp in three steps:
- Select your recipient.
- Choose the payout method (and the amount you want to send).
- Pay for your transfer.
That’s all it takes to support the ones you love!
Trust and Security
Trust is everything in the digital age—and it can be lost in an instant.
As cyberattacks and data breaches undermine consumer faith, security protocols across all sectors are under review.
Remittance companies aren’t exempt from this scrutiny. After all, users trust remittance providers with their financial and personal information—and the promise that the funds they send will arrive on time.
That’s an enormous responsibility, and customers deserve to have confidence that their information and transactions are secure.
That’s why uLink uses a state-of-the-art encryption system to protect customer information.
Our parent company, Servicio UniTeller, is also PCI-DSS certified. This ensures the safe handling of payment card data in compliance with global security standards.
It’s no wonder uLink is rated “Excellent” on TrustPilot, with over eight thousand positive reviews.
How Your Family Receives the Money
Sending money is only half the story.
The best part is when your loved ones receive it. Though you may not be there to witness it, you know a secure transfer puts a smile on their face and hope in their heart.
Each and every transaction waters your relationship, no matter how many miles separate you.
There has never been a better time to receive a remittance. After all, recipients can now choose how they want to receive the funds.
At uLink, we offer a range of delivery options for select countries, including:
- Credit to bank account
- Cash pickup
- Digital wallets
- Home delivery
- Cash ATM
Convenience is a two-way street.
With uLink, you can send money internationally with just a few taps on the uLink Money Transfer SuperApp, and your beneficiary can receive it with ease.
Introducing The Ultimate Remittances SuperApp
Finally.
A single app that unlocks the financial world and builds bridges back home.
With the uLink SuperApp, you can send money to loved ones, pay bills, and reload phones abroad.
And thanks to our advanced security protocols, you can have confidence that your information is safe and your transactions are secure.
Plus, with competitive exchange rates (and fees starting as low as $0), you can send more money home than ever before.
Miles from home—just moments away with uLink.
