21 Jun 2022
With an increase of 4.2%, international remittances are expected to reach $630 billion before the end of 2022. A majority of these transactions were created using digital platforms as 2018 alone recorded more than 5,850, million transfers and the number is further expected to hit the mark of 13 million by 2023. Such an astounding rate of online money transfer methods shows that people have shifted to the digital world swiftly. The security of internet-based remittance transfers remains the chief concern for every user. And, if you have the facility to track your transfers, your peace of mind increases.
Let’s figure out how you can track your online transactions to know the status of your funds until they reach the beneficiaries.
Online Tracking Tool
In the digital world, every activity has become way easier, automated, and more interactive. The users have multiple options to track their money transfers throughout the process from sending to receiving on the beneficiaries’ ends.
Here are the most feasible options through which you can instantly track your payment transfers.
Automatic Transaction Tracking Service: Several leading money transfer service providers offer the customers the facility to automatically receive status updates for their transactions. The feature works only when the customers enable receiving notifications via SMS/Email at the time of making a transfer or registering their online account. In this way, the company sends regular notifications to keep the customers updated about the status of their transactions.
Tracking Tool on Website: Most financial service providers offer the facility to track the transfers through their websites. The customers can simply go to their websites, find the transaction tracking tool and provide the tracking code to see the status of their transfers.
Having an operational website has become inevitable for every business, especially for financial institutions. Besides the online tracking tool, these websites offer multiple features for customers such as creating a new account, transferring money, receiving funds, checking exchange rates, participating in various promotions, etc.
Tracking through Digital Applications: Mobile applications have become an integral part of everyday life. These applications offer great convenience to carry out several online activities such as tracking an online transaction. A majority of money transfer service providers have their ready-to-use mobile applications available on PlayStore for Android and Apple Store for iOS users.
These mobile applications have the same tracking tool that you find on your service provider’s website. But it’s pretty easier to track your transaction on a mobile application since these apps are always user-friendly. So, if you send money online to your family and friends from abroad, you can always track your transaction status using the same mobile application you used for your money transfers.
SMS Tracking Service: Some money transfer service providers also offer the customers to check the status of their transactions via SMS. The feature works two ways:
Some service providers might not offer SMS status checks considering that it’s relatively slower and proves to be costly on both ends, i.e, for the service provider and the customer.
Tracking Physically at Service Provider’s Help Desk: If no online tracking method works for you, worry not since you can still track your transaction by visiting the nearest customer support centre of your chosen provider. Most of the renowned financial service providers have their help and support centres working 24/7. All you need to do is simply carry your transaction receipt that has the transfer code or tracking number on it.
Tracking through Online Customer Support Service: 24/7 Customer support services are yet another primary requirement for all the major businesses. If you couldn’t track your transaction through all other methods, you can simply call customer support or talk to them via the live chat feature available on the service provider’s website. One of their representatives would help you know the status of your transactions instantly after checking the records.
What’s the best way to send money internationally?
Doubtlessly, the online money transfer market is flooded with countless service providers which have made it challenging for the customers to find a reliable company. Nevertheless, you can easily differentiate between various financial institutions on the basis of authenticity, transfer time, security of transfer, fees, exchange rates, etc.
If you need all of these facilities on a single platform, go for ACE Money Transfer. It’s one of the leading and rapidly growing remittance service providers having an operational presence in more than 100 countries worldwide.
It has a widespread network of above 350,000 payout locations and collaborations with major legal financial institutions globally. The company offers expatriates the best way to transfer money internationally with an interactive online portal and mobile application that ensures swift and secure transfer, tracking status check facilities, and knowing updated exchange rates for various currencies.