Neobanks in Money transfers category in Hungary
Neobanks disrupt international money transfers
In the past, sending money abroad was a hassle. Traditional banks charged high fees for wire transfers, and the process could take several days to complete. Fortunately, neobanks have stepped up the game and offer customers a faster, cheaper and more transparent way to send money overseas.
Money transfers made easy
Neobanks are online banks that offer banking services solely through a digital app or platform. These digital banks offer user-friendly interfaces and low fees. One of their main advantages is their ability to offer international money transfers. Notably, clients who live or work abroad can send money to friends or family around the world.
Popular neobanks for international money transfers
Several neobanks offer international money transfers, each with its own unique features and benefits. Here are a few examples:
- Wise (formerly TransferWise): Wise is a UK-based neobank that allows users to send money online to over 80 countries. They offer low fees and competitive exchange rates, making it an affordable option for international money transfers.
- WorldRemit: WorldRemit is a global online money transfer service that operates in over 130 countries. They offer a variety of transfer methods, including bank transfers, cash pick-ups, and mobile money.
- Ria Money: Ria is a popular money transfer service that allows customers to send money online or through their mobile app. They offer competitive exchange rates and low fees, and their services are available in over 160 countries.
- MoneyGram: MoneyGram is a well-known money transfer company that has been around for over 80 years. They offer a range of services, including cash pick-ups, mobile wallets, and bank transfers. Their services are available in over 200 countries.
- Zelle: Zelle is an instant payment service that allows users to send money to friends and family. While they don't offer international money transfers, they are a convenient option for domestic transfers within the US.
The future of international money transfers
Thanks to neobanks, sending money abroad has never been easier or more affordable. Notably, customers are the winners thanks to low fees, competitive exchange rates, quick transactions, full transparency and cost control.