The blessed month of Ramadan is approaching, which brings together family and friends every evening for breakfast.
For those of you who live abroad with family and friends, sending Eid gifts is a simple way to keep in touch with loved ones during the holiday.
Fortunately, sending money internationally is now easier and faster than ever through digital channels.
Here are some common mistakes when transferring money in order to make sure that your money reaches and is easily sent to your loved ones in the month of Ramadan.
1 . do not be late
Many are looking forward to receiving Eid gifts throughout the month of Ramadan.
But waiting too long to order a gift or using a slow transfer method can result in the gift not arriving in time.
Instead, head toward digital options.
Digital means allow transfers to be made within minutes, through secure procedures.
Some platforms will also allow you to monitor the status of your transaction from start to finish to notify you precisely when the funds have reached your loved ones.
2. Forget about additional service fees
The second common mistake when sending money abroad is not budgeting for surcharges.
Most transfer methods require additional payment to complete the transaction, and if you are not careful you will pay a large amount in addition to your gift, which limits the amount you can give to your friends and family.
So, look for a company that does not hide their service charges.
See the first page of the website, the FAQ, and the “How to Submit” sections.
And if you don’t find out what you need, contact the company for the service fee to determine how much you’ll spend during the transfer.
The last – and perhaps the worst – mistake is entering information incorrectly.
Whereas, banks need to verify that the recipient’s identity matches the transfer information.
A misspelling of the name, using an alias, or incorrectly entering bank information can result in the transfer being cancelled.
So double check the details of the sender and receiver before completing the transaction.