Benefits of Money Transfer App

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Explore how money transfer apps make your life easier

TLDR Points

• Money transfer apps allow you to remit money right from your phone.
• It offers a user-friendly interface and requires only a username and password to initiate a transaction.
• It helps to keep track of your remittances.
• It is completely secure.
• It can be used from anywhere at any time.
• You can use the DBS Bank mobile app to make faster remittances enjoy zero fees and competitive exchange rates.

Introduction

If you have to send money to your child studying abroad now, you can do it faster and more securely through your smartphone. There are money transfer apps that are convenient, and you can transact remotely. So what are these apps?

A money transfer app facilitates money transfer between two accounts and charges a fee on each transaction.

This article will show you how a money transfer app makes your life easier and keeps you close to your loved ones, even continents apart.

About the Money Transfer App Industry

The money transfer app industry is a multibillion-dollar one spread across the globe. International money transfer apps facilitate transactions between accounts registered in different countries in a quick and seamless manner.

Next, let’s look at what makes the world of money transfer apps so valuable that it already has over 866 million registered accounts across 90 countries.

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Benefits of using a money transfer app

Money transfer apps have something to offer to every user - parents who need to send rent money to their child studying abroad urgently, a daughter who wants to send money back home to her elderly parents, an international traveller who wants to make an advanced booking for his holiday, a businessman who wants to book accommodation… all of them can use a money transfer app to make their payments.

Here are the benefits of a money transfer app:

Ease of use

A money transfer app is designed to be user-friendly. All you need to do is sign in with your username and password. Some apps even let you activate the biometric feature to access the app with your fingerprint or face-recognition. A few taps on the screen is all it takes to do a money transfer on an app.

Security

Money transfer apps are secure. Transactions are encrypted, and bug fixes happen regularly. Furthermore, today most smartphones are locked using a password or fingerprint of the owner. This means that even if someone were to get their hands on your phone, you wouldn’t have to worry about them gaining access to the money transfer app and committing financial theft.

Convenience

You can initiate a money transfer from anywhere in the world, at any time—no need to visit a physical branch. The only thing you need is a smart device (phone/tablet/laptop), username and password, internet connectivity, and details of the beneficiary.

Easy tracking of money

If you are looking to access all transactions and set favourites, money transfer apps are for you. All your transactions are listed within the app. This way, you can keep track of all your money transfers.

Now that you know the benefits of money transfer apps check out how DBS Bank makes a difference in the world of money transfer apps.

How DBS Bank is changing the remittance ecosystem

With DBS Bank, you can remit money to your loved ones abroad online and at your convenience. So, what makes the DBS Bank app a great way to transfer money?

Same day remittance

You can avail of same-day remittance* on specific routes provided that the money transfer has been done before the cut-off time.

Zero fees

DBS Bank doesn’t charge you a fee for making an international money transfer to certain countries and currencies.

Preferential exchange rates

DBS Bank offers the most competitive exchange rates on certain currencies. This significantly reduces the overall cost of the transaction.

*Conditions apply.

Conclusion

Money transfer apps are undoubtedly one of the most efficient ways to remit money overseas. They are convenient and easy to use from anywhere.

Download DBS Bank app  and leverage the ibanking platform to send money overseas in a hassle-free way.

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