The Benefits of Using a Money Transfer App

benefits of online money transfer apps

The Benefits of Using a Money Transfer App to Send and Receive Money


In 2021, the methods used to send and receive money have never been so advanced. The days of having to physically draw money and then deposit it in a bank account are well and truly over, with those who are often needing to transfer their hard earned cash instead having the option of using a money transfer app.

Since so much of our modern world is now online, it is only natural that something like money transfers is now something that can also be done with a few clicks of a button. What with internet banking just about replacing the need to have to go to the bank when you are looking to transfer money, the next step in the evolution of money transfers has been the app.

Money transfer apps have enjoyed an explosion in popularity since they first became available to the public, and now countless people are making the most of the availability of these apps, which can easily be set up by simply creating an account with a company offering the service. From there, doing the transfer is incredibly simple and, not only is it easy, but it is also faster than ever before.

Money transfer apps are fantastic for anyone wanting to move money around, but they are particularly useful for migrant workers who are looking for a quick and easy way to send money back home to those who need it.

Such apps come with numerous benefits that go well beyond the fact that they are so easy to use. For these reasons, those who have decided to use such apps very rarely go back to their previous money transfer methods.


Below we discuss the benefits of using money transfer applications.


What is mobile money?


Before jumping into some of the benefits, there are a few terms and concepts that you will need to be aware of, so that you know what you are getting into.

Mobile money is not exactly the money.

Instead, mobile money is technology.

And this technology allows the people who use it to receive money, to store it or to spend it using their mobile phones. It also allows for those who receive the money to draw it should they need the physical cash.

Mobile money can also be referred to as a mobile wallet, or it can go by a more specific name like EcoCash, which is the name of one of the brands that offers such a service.

This technology is hugely popular in both the first world and developing nations, although it is really enjoying loads more support in the developing world, where quick access to bank accounts and money withdrawal services are often out of reach. These services are also so popular because they are well-known for being safe and secure to use, while they are also made to be super easy to understand.

Currently, there are around 270 mobile money transfer services around the world, with Sikhona Money Transfers being one of them.


So, how does the mobile money technology work?


This service is actually quite straightforward and given the fact that it is based on incredibly modern technology, it is a service that is constantly evolving.

The funds that are used in the mobile money system are stored in an electronic account, which is then linked to a mobile money number. This mobile money number does not have to be the same as the phone number, but in most cases, with most of these services, it will be.

The money that goes into the account is easily transferred from a physical account, into the mobile account, and from there it can be used to pay for things like school fees, bills, or even airtime. Alternatively, the money can just be left there to accumulate and then be used later on for whatever you need it for.

Most money transfer apps are designed to include various services which can be accessed from the app. This allows you to select a specific service, as it is listed on the app, and then make a payment. Accessing the service is about as easy as sending a text message, which makes this sort of service a real winner for those communities that are not as technologically friendly.

Mobile money transfers are the fastest, easiest and most secure money transfer option, and there are three different methods available. There are some money transfers companies that offer the service through an SMS based system, and then there is the more popular app service, and finally, there is the web portal service.

An SMS service is not all that ideal because it can cost more money, and it is a little outdated. Also, when you use an SMS based money transfer service accessing various services is either a lot more complicated or these other services are just not available.

Web portal money transfer services can also be a little difficult for the everyday person to work with, because not everyone has access to the data needed to do these transfers. These money transfer services can also be a lot more complicated when it comes to navigating the tools that are available.

So that leaves the app.

Money transfer apps are amazing to have because they are just so easy to get to grips with, they won’t cost much money to use and they are well-known for being incredibly fast when it comes to moving the money from A to B.

Beyond that, money transfer apps don’t require all that much effort to get started with, and only the most basic of information is needed in order to get fully set up. When using an app like Sikhona Money Transfers, activation is really simple and that means you can quite quickly get all setup and ready to start transferring money to wherever you need to move it, or use it to pay your bills.

So given the fact that it doesn’t take all that much effort to get started with using an app like this, you are ready to learn more about the benefits associated with using a money transfer app.


The benefits of using a money transfer app


When sending or receiving money, using a money transfer app is the most convenient option you have at your disposal. But well beyond the fact that this kind of money transfer service is so convenient, there are quite a few other ways that you can instantly start to benefit when using an app to transfer money.


1.     The easier way to pay


Money payments are a fact of life, and while it is not something any of us actually want to have to do each month, the easier it can be done, the better. Simplifying payments means you can end up paying your bills faster than ever before and this just makes the stress of making sure that your payments are done on time every month a whole lot lighter.

Easier payments are also great because it allows you to stay on top of your payment duties, no matter where you are.


2.     Payments are secure


Naturally, whenever money is being moved around, used to make payments, or even if it is just being stored in an app, you will want to make sure that the money is safe and secure. Online money transfers are a great option, as opposed to drawing money and carrying it around with you to either carry out a transfer or to make a payment, because the risk of being robbed is all but completely removed. Although there is some worry about having money stored in a virtual wallet, given the fact that for some, online security is not as secure as it should be, this shouldn’t be too much of a concern when using an app.

Most money transfer apps are designed to be incredibly safe and secure, through the use of the latest cyber secure developments, such as encryption. This technology is constantly being updated and this means that when there are new threats, the technology can be developed to the point that it can meet these new concerns.

For the app to be even more secure, the card details of the account that you use won’t be stored on the app, and that means that your account and its contents will remain perfectly safe from wannabe robbers.


3.     They are the faster way to pay


The modern world is a hasty one, and everyone wants things to be done as quickly as possible. Whether they are making a payment or shopping online, a speedy service is much sought after because, like the first point of this benefit list, a fast service is just so convenient.

With a money transfer app, transactions can be approved almost instantly and this means if you are in need of money in a hurry, or if you are just looking for a way to speed up the process of paying bills or sending money to those who need it, this is a fantastic benefit.

Money transfers are also often a lot faster than if you were to swipe your card. This means that this sort of option is not just a great option for moving money, but it is also great for paying regular bills or shopping online.


4.     There are a lot of places accepting  these payments


These days, quite a few retailers are rather happy to accept payments via a money transfer app. Since the apps are able to process transactions, quite literally with the click of a button, when you are shopping, you could be able to buy what you like and then quickly transfer the money over when the time comes to pay.

With this method, you won’t have to worry about carrying around cards or loads of money. This also means that you have the option of doing a lot of online shopping, without entering card details or having to log into web portals.


5.     Money transfers are always available


Shopping whenever you like or transferring money whenever you need to, is a huge benefit, especially for those who are working remotely. Since money transfer apps can be accessed 24/7 when you are working around the clock and you don’t have the time during normal hours to move your money around or to buy something you either want or need, or to just pay the bills, it is nice to have this option available.

Sure, you could also do this with a web portal, but then you would have to do a whole lot more work to make the payment, like getting out of bed for instance. With the app on your phone, you will be able to make payments or do transfers no matter where you are.


6.     The entire process is paperless


Not a single paper based form to fill in and no paper receipts to receive once the transaction goes through, when you are using a money transfer app to send or receive money, you won’t have to be concerned with collecting little bits of paper. And besides that, you also won’t have to worry about contributing to the climate problem.


7.     You can send money from anywhere


Possibly one of the biggest benefits of using a money transfer app is that you will be able to send and receive money from anywhere, even if you are in a completely different country altogether. This is what makes a money transfer app such a great tool for migrant workers who are far away from home but who need to send money to family. Another great thing about this benefit is that you won’t have to pay out a huge rate to carry out your transfer, even if you are far from the destination to which the money is going.

Sikhona Money Transfers is changing the way Africa transfers its wealth. For more information about our app or to sign up for our service you can either browse through our website or get in touch with our helpful team.

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