Sending money abroad today is a common need for many people, whether it's to help their families, pay for studies or attend to an emergency. However, there are some common errors that can hinder the process and make shipping more expensive and complicated than necessary.
What are the 5 most common mistakes?
1. Don't compare rates and exchange rates
One of the most common mistakes when sending money is not comparing rates and exchange rates between different platforms. Each service has its own rates; if you don't verify these details, you could be losing a significant amount of money on each transfer, directly affecting your recipient, higher rate, less money.
Our advice: Before making a transfer, review several providers and their rates. Retorna, for example, offers you a competitive rate compared to other platforms, allowing more money to arrive at your destination.
2. Not knowing delivery times
Many foreign money transfer services offer different delivery times, and some may take up to several days to process the shipment. Ignoring this aspect can lead to problems, especially if you need the money to arrive right away. Sometimes, cheaper rates may have longer delivery times, so it's important to choose the right service based on your level of urgency.
Our advice: If you need a quick transfer, check that the service you choose offers immediate or same-day delivery. At Retorna we offer fast transactions, ensuring that your money reaches its destination in a matter of seconds.
3. Not reviewing document and personal data requirements
One of the most common and frustrating mistakes is making mistakes in personal data or documentation requirements. Sending money abroad usually requires certain bank information from the recipient (such as the SWIFT code or account number) and identification data of the sender. Any error in this data can delay the transaction or even cause the money to be returned.
Our advice: Double-check all the details before confirming the transaction. At Retorna we are always available to help you, so if you have any errors when making your shipment, you can contact us through our customer service channel at Whatsapp.
4. Don't consider fees when making small transfers
If you send small amounts of money, keep in mind that many platforms apply fixed rates that can represent a high percentage of the total. This can result in a significant expense if you make several small transfers instead of a larger sum.
Our advice: If you have the option, group your transfers into larger amounts to reduce fixed costs. At Retorna, we handle transparent rates; our rate is the same whether you send large or small amounts of money.
5. Choosing inconvenient payment methods:
Not all payment methods are the same when it comes to sending money. For example, using a credit card to make the transfer can be more expensive than making a transfer from a bank account or using specific payment methods on some money transfer platforms.
Our advice: Choose the payment methods available on the platform with which you regularly send money and check which of these offers a lower commission. Return, it has different payment methods depending on the country from which you want to ship.
Avoiding these common mistakes can help you maximize savings and reduce problems with your international money transfers.
When you send money, especially if you do it on a regular basis, every little detail counts. That's why Retorna is designed to simplify this process, offering competitive exchange rates, speed and security in each transaction, which minimizes these errors, allowing you to send money with total confidence.
