5 ways to reduce time in money sending

Written by Davies on reduce time / Reading time: 4 minutes.

5 ways to reduce time in money sending

Sending money to other people who are far away can become a very stressful experience if tried by “traditional” means. There are thousands of ways something could go wrong during the procedure. There may be safety errors preventing the operation from completing, or there may be commissions to pay so high that the transference isn’t even worth doing, or the procedure may be so complicated that the only way to manage it is letting other hopefully goodwill person to fulfil it for you.

But above all, the worst part about sending money is slowness. Many times, the only thing you need when you want to transfer euros or dollars to other countries is that the recipient gets them as soon as possible, especially when we’re talking about places such as Venezuela, where they’re struggling with political and financial turmoil. In those circumstances, a delay of only some days may have terrible consequences for the person who is waiting to receive the remittance that may let him or her carry on with daily life.

That’s why choosing properly an adequate means, one that ensures you’ll be able to send money quickly anywhere in the world, is crucial. When selecting the system, there are some criteria you should always consider. Do you want to know which ones? Keep reading, we’re telling you.

Be sure your money arrives quickly to its destination

Among the many features a money transfer system must have to be considered quick enough, there are five of them that we regard essential:

  • Remove intermediaries. It’s preferable that money you’re sending goes through as few hands as possible before the recipient gets it. Don’t forget that, for every intermediate step the operation has to perform until reaching its end, processing time multiplies. Most times it’s only about bureaucratic procedures which may make sense for the entity that is dealing with the transfer, but for you, who only need the money to arrive quickly, are only nuisances. Also, keep on mind that all these unnecessary steps can impact on the final cost of the operation, because, of course, those who are managing them will be charging you.
  • Use an online system. Fortunately, since the advent of the Internet we don’t need to physically go to any precise location in order to perform some operations. Almost everything can be done currently in the comfort of our own home, or from anywhere we’re staying with a mobile device. Money sending is no exception. Choose an alternative that lets you fulfil the operation from wherever you are and doesn’t make you lose time by traveling to an office where you may meet the employee who has to deal with your transfer.
  • Don’t depend on timetables or dates. Related to the previous point, in order to send money quickly it’s basic that you don’t have to pay attention to the exact moment in which the service providers are available, either because the branch only opens at certain times, or because telephone operators, or the informatic system, or whatever other non-presential option they’re offering you, are working only at certain moments since the rest of the time they remain closed or under maintenance. You don’t want to wait for them to decide when do they open. Neither do you want to schedule your life to adapt your timetables to theirs (which can delay even further the procedure).
  • Avoid the need of changing currencies. Your goal is to transfer money from a place to another, not to care about how much is that money worth in a foreign currency that you may not know, or that you don’t handle since such a long time that you’re no longer used to it. Are you going to calculate how many bolivars or how many pesos or how many dollars do you need to send from your euro account? It’s more convenient, easier and faster to look for a system in which the currency unit you transfer is common for both ends.
  • Prevent future problems. When sending money quickly and saving time, planning the operation and actually performing it is as important as being sure that there are no future conflicts which would lead you to waste time, and probably extra resources and energies, to get them solved. Be sure that you’re using a safe system, scam-free, that won’t force you to perform the same operations twice.

Cryptocurrencies, a safe option to send money quickly

Fortunately, technological evolution has made it possible to develop a means that meets all these features and lets everybody send money quickly. Using cryptocurrencies, all challenges related to more traditional ways of sending remittances to remote places can be avoided in such an easy way that any user can do it, even if they aren’t experts in economics.

With cryptocurrencies, exchanges can be done instantly: in just a few seconds the money you’re sending will arrive to its recipient. Besides, the procedure is completely safe and watertight, thanks to blockchain technology that stores all operations preventing any risk of them being illicitly deleted or modified. Being also completely digitalised transactions, there are no time or location boundaries to perform them.

Would you like to know more about how cryptocurrencies work? Are you interested on discovering how to start using them? Follow our blog, in which you’ll find plenty of advice for you to master this revolutionary technology!