I assume that you are ready to send money overseas and wish to know what exactly is a cash-pick up facility! Well, a cash pickup option is a convenient way in which the recipient of an international money transfer can collect their funds from a physical location. It is very useful for the recipients who are quite unfamiliar with the bank procedures, they can simply collect the funds from a location. Thus, the money is being sent to payout partners of the money transfer operator rather than having them deposited electronically into a bank account.
Cash pickup is actually a receiving method not a sending method in an overseas money transfer. It’s always the recipient of the money that handles the cash, whereas the sender can choose from different options. The sender can send money through:
- Internet Transfer
- PayID
- POLi Payment
- Pay at agent location via cash or debit or credit card
Once the transaction is successfully completed, the sender will receive a unique reference number and a PIN will be generated automatically. The PIN number is very important that needs to be noted down as it is to be produced at the pickup counter. The recipient is required to show the PIN number alongside a valid government-issued identification document.
As and when the PIN and ID are verified by the officials at the payout partner, the beneficiary gets the money, immediately. How convenient, isn’t it?
Overseas money transfers can also be conducted with the best online money transfer in Australia. The receiving methods depend upon the convenience and comfortability of the recipient, if he/she is opting to get money in cash, not in the bank account, your choice should be cash pick up.
