Transferring money internationally comes at a cost, but these payments can be cut considerably thanks to moneyshare options available with prepaid cards.
Securely transferring money is important to many customers who wish to help family or friends by moving funds across to their accounts.
Prepaid cards allow for the shifting of money across in a safe and secure way, while customers can be safe in the knowledge that funds are available on the cards instantly once a credit is made.
How the concept works
The friend or family member can have access to the card and can then access transferred funds via an ATM when using their card.
That way, one person in one country sends the money to somebody else in another, who then accesses the funds when they need them using the secondary card.
The primary card holder loads funds in the UK and any withdrawals can then be made in the local currency at any given location.
This fast and effective way of transferring money is ideal for workers looking to support friends and family in far-flung locations around the globe.
Essentially, there is no cheaper way to transfer and share money in a fashion that is as safe and secure as when transfers are made with a prepaid card.
Safe, secure, and cheap
Transfer fees and international withdrawal fees will still apply on the movement of money, but they will vary depending on the amounts being moved and on the destination.
The money will also be available instantly – there is no wait for the bank to transfer funds across, resulting in immediate access to funds once a transfer is confirmed.
Transfers can also be carried out by accessing an online account or directly from a mobile phone, making a transfer possible in any number of locations.
It represents a safe and reliable way of ensuring that workers, family or friends, receive the funds they require at a time when they need them most.
In the majority of cases, a prepaid card will allow for savings on an international money transfer, while the exchange rate received is also likely to be favourable.
If sending money to other locations occurs on a constant basis, then a prepaid card represents a safe, secure and more cost effective way of doing so.
The cards can also be used for any number of activities, from withdrawing money at ATMs to being used for online purchases, and those done either in-store or over the phone.