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Benefits Of Transferring Money Abroad Through Mobile Banking Apps

August 6th, 2018

Benefits of transferring money abroad through mobile banking apps

People are increasingly relying on mobile devices for a variety of services- everything from ordering a taxi to booking a hotel room and even learning a new language. That should come as no surprise, considering the number of people accessing the internet on the go- nearly half the world’s population, according to GSMA.

One way mobile devices are facilitating financial services is by helping expats send money home to their loved ones.

Save time for the things that matter

Convenience is the obvious benefit of using a mobile banking app for remittances. As a sender, you don’t need to find an ATM, withdraw money and then go send it. Now you can complete the transaction on your mobile device, as long as you have an internet connection. That frees up time which you can dedicate to the important things in life, such as spending time with your friends or learning a new skill.

Simple and secure way to transfer money

Transferring money using a mobile banking app is simple and easy. Instead of having to go and send money, you can complete most transactions on your mobile device whenever and wherever suits you. That means you don’t have to leave work early or miss out on quality time with your family. The apps are designed to be user-friendly, so even those who aren’t tech savvy should be able to navigate them. They’re also secure, as you complete all your transactions within the app without having to visit an external website, so they provide peace of mind.

Keep track of the money remitted

Mobile apps help to calculate and keep track of the money transferred. When the money is transferred, you have it recorded in your monthly transactions, so the days of holding on to paper receipts are over. This helps you have an account of the total money being transferred. Or if you set yourself a financial goal, such as being able to make a down payment for your new house, or any large investment, an app helps you ensure that you have sent enough money for it.

How Xpress Money is helping change the remittances ecosystem

With a mission to make transferring money accessible and affordable, we at Xpress Money, have collaborated with some of the most credible financial institutions in the world. Through these associations, we aim to deliver greater value to expats all over the world, as they look for a secure and convenient way to send their hard-earned money home to their loved ones. Our customizable remittance platform, Xpress Money FLEX is built to seamlessly interact with the IT systems employed by financial institutions across the world.

Xpress Money has partnered with National Bank of Ras Al-Khaimah (RAKBANK) and Abu Dhabi Commercial Bank (ADCB) to offer our remittance service. These banks provide apps which allow customers to manage their accounts and transfer money overseas through Xpress Money. The receiver can then collect the money from one of our extensive network of agents.

When you log in to the ADCB app, choose the ‘money transfer’ option and then select Xpress Money to proceed. The app lets you send money to over 300 banks in 14 countries. For the RAKBANK app, select the ‘money transfer’ option that is powered by Xpress Money. You can then send money directly from your RAKBANK account or credit card to 20 countries.

To find out more about Xpress Money, click here.