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Top 5 Mistakes to Avoid When Sending Money Internationally to the Gambia from Spain

19 Dec 2023


Are you a Gambian expat worried about making a money transfer to Gambia from Spain? Choosing the right path for online international transactions can be hectic. Expats fear losing vast amounts of money or getting fraud while sending money from Spain to Gambia. This guide will provide the sufficient information you need to know as a Gambian expat.
 

People who work overseas always look for ways to help and support their families. Financially helping your loved ones can be the best way to make your space strong in their hearts. Sending money to Gambia regularly can make you feel more connected to your loved ones. One of the most challenging things for any international expat is to select a company or service to make international transactions. Let's explore the top five common mistakes to avoid when making online money transactions to Gambia from overseas.

5 Common Mistakes to Avoid When Sending Money Internationally

The digital remittances market reached a transaction value of US$0.65 million in 2023. There is an expectation of an increment in the remittance market. Many people would like to look for remittance services in the upcoming years. The average transaction value per user market is US$1,130. This value will surely increase in the upcoming years.
 

Before making any international transactions, you need to go through detailed research on online money transfer companies. Look for the best way to send money to Gambia from Spain. The following are the most commonly occurring mistakes to avoid while sending international money:

Neglecting High Exchange Rate

One of the most important things you must consider is the "currency exchange rate." The exchange rate is the amount of money converted from one country's currency into another. To send money from Spain, you must convert your currency into Gambian currency. Currency conversion varies on the progress of the country. If you send money to an underdeveloped country, you may need to pay more than the specified amount.
 

Every international service provider offers different rates for converting currency. Some may charge higher than others. Mostly, expats rush to the companies without research, which makes them pay higher exchange rates. So, it would help if you looked for companies offering reasonable currency rates, such as ACE Money Transfer. They provide the lowest currency exchange rate with unlimited international transactions.

Long Transactions Durations

Another essential factor you need to know is "transaction duration." Protect yourself from companies that prolong transaction durations. Firstly, you need to choose the right time for the transaction and select the company offering rapid transfer. There are chances of fraud if a company is taking too long to proceed.
 

Most expats need to pay more attention to looking for ways to make instant money transfers to Gambia. This mistake may put them in difficulty. It is preferred to know about the expected duration of the money transfer. Contact again with the company and track the process to ensure a smooth transaction.

Choosing the Wrong Remittance Medium

Choosing a suitable medium for your remittances is very important. At the same time, it is the most common mistake expats make. However, there are numerous ways to send money online, such as banks, online services, and companies. Bank services are trustworthy, but they are slow and expensive. While online services have a high risk of fraud, they may charge you a considerable exchange rate or hidden fee. So, it is crucial to look for the best to avoid any inconvenience.
 

Companies like ACE Money Transfers are very reliable. It is one of the best ways of sending money worldwide. ACE  facilitates its customers in all ways by offering 24/7 customer support. You can directly contact them to resolve your queries. So, looking for all the companies and choosing your Remittance medium wisely is essential.

Wrong Recipient Information

Some individuals provide wrong recipient information in haste, which can make them lose all their money at once. Check the recipient information twice. Verify the number and address by contacting the receiver. Make sure to add the correct information.
 

Double-check the amount you want to transfer. Count the digits and ask your advisor for help. If you provide the wrong information, track your process and contact the company urgently. Ask them to stop the process immediately and revise the strategy.

Avoid Revealing Sensitive Information

Always provide the necessary information to make an online money transfer to  Gambia from Spain. Avoid revealing extra information. If a company demands you to provide any irrelevant information, such as your basic salary or other account information, consider it a scam. 
 

Make sure to keep your accounts secure and refresh them weekly. Avoid attending calls and messages from unknown numbers. Never transfer money into a personal account of the company's worker. Read more about 7 horrible mistakes that you're making with global money transfers.

Strategies to Avoid Mistakes When Making Online Money Transfers

Choose your medium for international transactions wisely. There are many ways to avoid commonly occurring mistakes to ensure smooth money transfer:

Thorough Research for a Recognized Company

Look for the most recognised and authentic companies. Evaluate diverse services and compare the exchange rates, service charges, and transfer speeds. Verify the authenticity by making small transactions and then proceed further.

Customer Reviews

Feedback is potent in uncovering the reality of any company. Research into customer reviews and testimonials to gain valuable insights into a money transfer service's reliability and efficiency. Pay attention to positive reviews but never ignore the issues expressed by the existing customers. These reviews will guide you towards the originality of the service and will ensure a smooth transaction process.

Transparency on Hidden Costs

Read all the instructions carefully and review the terms and conditions. Look for hidden costs in the form of service charges. Look for the cheapest way to send money to Gambia from Spain without hidden charges. Calculate the total expenses. It will help you to make a clear decision, ensuring you understand the financial details fully.

Verification of Service 

Verify the legitimacy of the service provider by checking for its authenticity through licenses, certifications, and office locations. Trustworthy credentials are the indicators of a reputable money transfer service. They will ensure you engage with a reputable and secure money transfer service.

Customer Support

Choose a service equipped with responsive and helpful customer support teams. Access the customer support of the company. Ask them to help you in gaining maximum information. Try to clear all your doubts for smooth international money transactions.
 

Many expats face different challenges while sending money from one country to another. Your knowledge of transaction criteria and methodology is necessary. Build your faith in the company before making any vast transactions. Look for reviews and take suggestions from other experienced people. Consider all the essential points to complete a successful transaction. Make sure you choose a suitable medium to send money to your loved ones. Verify all the provided information twice and ask the recipient to stay active on the expected dates of transactions.

Bottom Line

As a Gambian expat, your sole purpose of earning may not be to build just your future. You might be concerned about your family in Gambia as well. To see your loved ones grow and help them progress, you might be looking for some of the best ways to send money to Gambia from Spain. Choose the company wisely by keeping all the aspects in mind. Ensure the company fulfills your requirements and will send your remittance on time.
 

Many individuals make mistakes in haste while sending money to their hometown. Take your time with any transaction. Plan a schedule for monthly or yearly transactions and request a transaction before the desired date. So, it will get delivered on time without any inconvenience.
 

Check the originality and select the company that facilitates you and respects your comfort, such as ACE Money Transfer. It ensures that its customers are satisfied by getting 24/7 customer service. It also has a mobile application especially designed for expats to send money whenever they want.

FAQs

What are the ways to ensure a secure money transfer?

To ensure international money transfer, look for the company's originality and check customer reviews. Moreover, look for hidden charges and get all the information required.

How do you avoid heavy service charges when sending money internationally?

Many companies, such as ACE Money Transfer, charge less or zero service charges for sending money internationally. Look for the best companies and compare the rates.

What are the safest ways of sending money to Gambia?

ACE Money Transfer is one of the safest ways to send money to Gambia. Moreover, there are many options like bank transfer or international services.

How long does it take to send money to Gambia?

It depends on the medium of money transfer. It usually takes 1 to 2 working days to send money to Gambia.

How does ACE Money Transfer facilitate international transactions?

ACE Money Transfer facilitate international transactions in many ways by offering reasonable exchange rate, the fastest transaction time, and the best customer service.
 

Reference Link:

https://www.statista.com/outlook/dmo/fintech/digital-payments/mobile-pos-payments/united-states


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