worst-money-transfer-advice

The worst advice you’ve ever heard about money transfer

I recently became an expatriate as I moved from France (my home country) to Canada for my job. Quickly I got aware of the notion of money transfer as I needed to pay back my student loan in France. I was a totally beginner as I never had to send money internationally.

How I got informed about money transfer

Like many people now, I went online and asked for help on forums or expats groups on Facebook. I got responses quite easily but the issue was that none of them was the same. My question was simple: what money transfer operator do you use.

One would advise me to use WorldRemit, another one told me about Western Union, Ria etc, etc. Some even pushed one solution with a dedicated link asking me to use it to make sure they’ll get paid!

Many answers also seemed based on personal beliefs and no one was able to justify with figures or solid arguments their position. Some examples I read:

“Western Union is the best, I’ve been using it for more than 10 years” – ok but it’s not because you’re using a service for a long time that it is the best right?

“Moneygram is great, I use it to send money back to my uncle in India who does not have a bank account” – I’m not sure I am not sure we have the same needs.

The good thing about that process is that I got familiar with the main actors of the money transfer industry. However I could not tell which one was good for me. So I had to do some research by myself.

How I found reliable information about money transfer

I cannot remember how but at some point during my researches I found Moneytis: a comparison platform for money transfer operators. I found many reliable information about different actors in the industry in very detailed reviews. But the best part of this website is that with 3 clicks you can access a comparison of all the services operating between 2 countries for a given amount.

For example, if I select Canada to France for CAD 1000, here is what I get:

worst-money-transfer-advice

As you see for each service I know how much it will cost me, how long it will take for the transfer to be made and how easy is the platform to use.

In the end I strongly recommend to use Moneytis as you’ll get a clear and simple way to find the best operator for your money transfer. It’s important to get people’s feedback but most of the time I will not necessarily fit your own needs.

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