A guide to international money transfer during the global pandemic
During the pandemic, people and businesses began shifting towards online payments as a new method of staying safe while remaining connected with the rest of the world. This trend does not seem to slow down even after the virus is controlled and contained.
In this article, you will learn about our current situation and why online payment is the right method for you.
International transfer during the pandemic - by DNBC Financial Group
THE SITUATION AT HAND
With the gradual distribution of Covid-19 vaccines, the world is becoming more eager to return to the norms of how it used to be before the pandemic. However, many experts have informed us that “going back to normal” might not be what many have expected.
The possible risks of COVID-19 continue to loom over the lives of everyday people, and the future of businesses in many countries across the globe. In some parts of the world, lock-downs, social distancing and travel restrictions are still heavily implemented. Physical interactions proceed to carry the risk of spreading the deadly virus to other people and running errands without proper precautions can cause people their lives.
Knowing significantly about the danger of the on-going pandemic, many have chosen to rely on the internet entirely to carry on with their lives; this includes online payment. Online payment is fundamentally a payment method that allows customers of a bank or payment institution to conduct financial transactions via an electronic payment system created by said institution.
In the last two years, the finance world has witnessed a surge in digital transactions via payment platform, especially for sending money overseas. According to experts in the financial field, this trend will continue. There are many positive aspects to making your transactions digitally, and it will also provide positive impacts on your life.
WHY YOU SHOULD SWITCH TO INTERNET PAYMENT
In this pandemic, many families suffered physical separation, while many companies struggled to keep themselves afloat. Some are on the verge of bankruptcy, and millions of people are facing the difficulties of keeping their lives intact. This resulted from the sudden disconnection of traditional payment in which many people were heavily relying upon.
Even though payment platform and other digital payment services are familiar to modern-day people, the digital payment trend has just been gaining momentum in the last few years. The drastic shift towards digital payment and new forms of financial services were initiated when the pandemic escalated globally.
Many have chosen digital transfer for the following reasons:
- The transaction is processed much faster than with traditional payment.
- It is profoundly more convenient to make remote transactions than to be physically present at a traditional bank.
- It has a better range of financial services which allows you to choose whatever payment method fits your needs.
- It is more secured in terms of customer identification and transaction.
- Digital transfers are considerably more transparent about their fees and the transaction process. Some financial institutions allow customers to track their transactions status live.
- Lastly, digital payment provides better transaction prices compared to traditional methods.
Digital payment has proven itself to be the best way to send money internationally. With the convenience of payment platform and mobile payment, expats can now support loved ones despite the separation, parents can send money overseas for their kids who study abroad, companies can reach international clients, and online shopping can be done effortlessly.
WHAT TO LOOK OUT FOR WHEN USING ONLINE PAYMENT
You now have learned that choosing online payment is the most vital method not just as a quick solution to deal with the pandemic but as a long term payment companion in personal as well as business development.
To help you understand the impacts of the right payment institution can have on you and your business, we have put together a few things you need to keep in mind when choosing your future payment partner:
- If it is possible (and it is possible), choose an institution that provides a full online payment service, from account registration and transaction management.
- Choose an institution that supports international money transfer such as SWIFT services for international transfer and SEPA for Eurozone transfer.
- Choose an institution that is transparent about their transaction fees.
- Choose an institution that provides multiple financial services, ranging from personal finance to business payment services, especially when you are an entrepreneur or you are operating a business.
GO GLOBAL WITH DNBC FINANCIAL EUROPE
With a profound understanding of your needs for the ability to transfer money abroad online, here are the services that DNBC Financial Group - a 100% online payment institution can provide you during this time of so much hardship:
- Free online account registration
You can open a new account without stepping a foot outside your house.
- Internet payment
Conduct 100% of your transactions and account management processes online.
- Mobile payment app
Manage and transfer overseas anytime, anywhere.
- SWIFT transfer
Reach 170 countries and territories around the world.
- SEPA credit transfer
Originate fast and secure money transactions in the Eurozone.
- Online payment card
Make online purchases with ease
- We offer a wide range of products: personal, corporate, payment card, payroll account…
Are you interested in working with DNBC Financial Group? Sign up now!
DNBC Financial Group holds all rights to the Payment Institution License issued by the Central Bank of Lithuania. We are authorized by the Bank of Lithuania to conduct Financial Activities specified in our License. DNBC Financial Group became the trusted choice in terms of SWIFT and SEPA Transfer for individuals and businesses around Europe and over the globe with digital payments and remittances. Individual clients can also use Payment Mastercards for online payment or withdraw cash at a global ATM with the logo Mastercard…
Mastercard is a registered trademark, and the circle design is a trademark of Mastercard International Incorporated, meaning that the Card could be used wherever Mastercard is accepted.
DNBC Financial Group
Business insurance policies are crucial components of any successful enterprise. They provide protection against unforeseen events, liabilities, and financial losses that can jeopardize the stability and growth of your business.
Knowing the law of international trade plays a pivotal role in the exchange of goods, services, and capital across borders. The Law of International Trade governs the legal framework and regulations that shape cross-border commercial transactions between countries.
Culture plays a significant role in shaping business practices and interactions across the globe. As businesses continue to expand globally, understanding and navigating cultural differences in business becomes increasingly crucial.