How Changera Helps You Send Money Faster

Everybody sends money. From business deals to daily purchases or love-centered gifts in the spirit of Valentine’s, money is always involved. Of course, it goes without saying that speed is also a crucial ingredient in every money transfer. People want to handle these financial situations in the shortest possible time.

We know this: when you send money, you want it done immediately.

As a result, you need to be prepared and know your options for sending money. In addition, if you have family, friends, or a loved one abroad, you need to know how to make the quickest bank transfers if the need arises. Sometime in the past, traditional banks were solely responsible for transferring money between two bank accounts. However, technological advancements now provide us with more options regarding money transfers.

Some of these available options offer swift services, while others are slower. Nevertheless, we’ll show you the best ways to transfer money quickly between accounts.

In this post, we will introduce you to Changera as well as add a note on how Changera helps you send money faster.

Stay with us.

How to Transfer Money Between Banks

When it comes to international money transfers, there are numerous options available. Each of these options comes with its peculiarities and challenges. Nevertheless, they are legitimate methods you can use when you want to send money from one bank account to the other.

Let’s take a quick look at some of these options:

Electronic Money Transfers

Electronic transfers are the fastest way to send money. Any time you transfer money over an online network, it’s considered an electronic funds transfer (EFT).  Usually, these are transfers made via apps or websites, but they also include payments made with your debit card.

In fact, we believe this is one of the top ways to make your partner smile this season. Just make a quick money transfer. Although electronic money transfers are highly convenient, remember that some fees apply.

Some of these may include:

• ATM fees
• Transfer fees 
• Currency exchange rates
• Processing fees 

How to Transfer Money Abroad

International transfers are a little more complicated than domestic transfers.

This is because of drastically different time zones, regulations, currency exchange rates, and the need for intermediary banks. Hence, the approach is different when sending money abroad. Here are some of the most popular ways people send or receive money from abroad:

Using a Domiciliary Account

A domiciliary account is an account that allows the operator to hold money in currencies other than Naira. Usually, it is used by Nigerians for the transfer of funds directly to foreign receiving accounts for either business or personal transaction purposes. Sending money from one bank to the other using a domiciliary account will involve presenting the recipient’s bank details.

These details include account name, account number, bank name and branch, Swift Code, routing number, and amount of money to be sent. Keep in mind that the sum of money to be transferred will first be converted to the destination currency using current foreign exchange rates. 

Wire Transfers

A wire transfer is a form of electronic payment that sends money directly from one bank account to another via a secure network. In theory, it can refer to both domestic and international transfers, but wire transfers are realistically used for transfers abroad.

Typically, you’ll need to supply the following information when making an international transfer:

• Name and address of recipient’s bank
• Recipient’s IBAN (International Bank Account Number)
• BIC/SWIFT code of the recipient’s bank
• Reason for the transfer
• Transfer amount and currency
• Who will pay the associated fees: You, the recipient, or a split between you and the recipient? 

Note: Wire transfers are usually carried out over a SWIFT network. SWIFT stands for Society for Worldwide Interbank Financial Telecommunications (SWIFT) Network. It is a secure network that banks and payment platforms use to allow individuals and companies to conduct payments electronically. 

Mobile Payment Platforms like Changera

You can also transfer money to a domestic or foreign account using a cross-border payment app like Changera.

Changera allows you to create wallets in different currencies while they convert to the preferred destination currency before payout to the provided account details. In addition, you can create multiple currency wallets and easily switch local currencies across different currency wallets.

How Changera Helps You Send Money Faster

There are numerous options available for sending money across bank accounts. However, we’re looking at only the fastest option in this post— Changera!

Changera provides cross-border transfer and remittance services to individuals and businesses globally. 

With Changera, you can send and receive money anywhere in the world at the tap of a button. Talk about the best exchange rates and transfer speed; Changera has got you covered in all aspects.

Additionally, the multi-currency wallet feature on the app makes conversions across different currencies easier and simpler. Now, you can boycott the complex process and challenges of sending money to different recipients. It really doesn’t matter if you’re sending money to your partner halfway across the world, or simply paying the vendor next door, Changera remains the fastest and most secure route for all your transactions.

Takeaway 

When you need to send money quickly, your best bet is Changera. The good thing is that you also don’t need to worry about bank charges or ridiculous exchange rates. Just ensure that you have the proper details of the recipient and you’re good to go. 

It’s time to enjoy swift payments and transfers. Download the Changera mobile app from the Google Play Store or App Store to get started.