With the ever-rising number of professionals moving back and forth over the national borders and settling in foreign countries, there has been an immense need for international money transfer companies to ease and simplify the process of foreign fund transfer. People who have always trusted bank transfers are now looking…
With the ever-rising number of expats in different countries, international money transfers are always at a hike. Millions and millions of people send money back to their home countries to financially support their family members, friends and relatives. It is a known fact that international money transfer need not come…
Ramadan is the holiest month in the Islam calendar. A divine month of prayer, reflection and forgiveness. Muslims across nations take one month of fasting during Ramadan. They fast from sun up to sun down on a daily basis. It is a renewal of their faith, and it strengthens their…
Choosing the best remittance provider is always a tricky part. Why? Because there are many criteria to think about, not only think, but one must compare and cross-examine one against the other to arrive at an informed decision. International money transfer services have become increasingly convenient with advanced technologies. Yet,…
Let us begin by explaining the importance of the remittance industry. The remittance industry is booming more than ever because it provides international money transfer services to immigrant settlers, workers and international students, who wish to send money to family and friends in their home countries. Funds are remitted for…
Foreign immigrants in Australia regularly send remittances to their family, friends and relatives in their respective home countries such as India, Pakistan, Sri Lanka, the Philippines etc. The real question is, Why? Why do they make an international money transfer? What could be the reasons behind sending remittances? In this…
Remittances are money transactions across national borders by migrant settlers, workers and students to their home country. On every consequent year, world remittance is colourfully on the rise as the scale of migration between countries is ever on the rise. People from developing countries migrate to developed countries for better…
International money transfer was one of the biggest chores in earlier times with fewer ways and numerous procedures of money crossing international borders. Now with special thanks to the internet and remittance providers, the process has been simplified for the foreign settlers and overseas workers. However, there are some do’s…
Before moving into the Act itself, let us first quickly know what is “money laundering” and “terrorism financing”? Money laundering is the process of converting dirty money gained out of illegal activities into clean money. Here, they hide and disguise the real source of money so as to conveniently avoid…
Globalization led to tremendous changes in global policies on immigration. People started moving across countries for better job opportunities, higher studies, living standards etc. Wherever people go, their close familial ties and friends remain in the home country. Thus, the global remittance industry is one of the adjoining factors that…