Online money transfers to friends and family have been the focus of Sikhona Money Transfer since its inception in 2010. Sikhona’s mission is to improve people’s lives by offering the most cost-effective, secure, and quick means of sending money to those they care about.
Many people’s lives have been improved thanks to Sikhona’s years of financial experience, low-interest rates, and unwavering commitment to offering the greatest level of customer care.
What are international money transfers?
International money transfers from South Africa with Sikhona do not travel via banks and do not use the SWIFT system, which is used by traditional financial institutions.
The monies are transferred between account holders through the use of third-party money transfer providers, who operate their own communication infrastructure.
In general, users will benefit from faster international transactions as a result of this. In fact, money is often received within 1–2 days, and in other circumstances, international money transfers from South Africa are received immediately in most cases.
When compared to traditional banking, online money transfer services are typically a more cost-effective method of sending and receiving money in and out of the country.
This is due to the fact that they have a tendency to offer smaller exchange rate margins and transaction fees. In South Africa, there are a number of money transfer providers that are well-known internationally for their services, of which Sikhona is an industry leader.
Advantages of international money transfer services
Better fees
Bank fees can vary and are dependent on where you are sending your money as well as the unique policies of a certain bank.
Some money transfer providers, on the other hand, charge a set rate for all transfers, regardless of where the money is going.
Added to this, certain money exchange transfer firms, such as Sikhona offer solutions that make international money transfers from South Africa more reasonable for its customers.
No need for a bank account
One of the disadvantages of utilizing a bank to make an international money transfer is that you must have a bank account at that institution in order to initiate the transaction.
This means that your alternatives may be limited as a result of being subject to the rules and fees of the financial institution.
Making an account and connecting your bank account are all that is required to use money transfer services like Sikhona. You and your beneficiary both have the option of having a bank account with a different banking institution.
It is also possible to send money worldwide without having a bank account through several money transfer services like Sikhona.
Faster transfers
With a money transfer service, you may send money in a jiffy and choose from a variety of payment alternatives.
In some cases, you may be able to request a cash pick up the same day you request it. You can also keep the information about your receiver so that you can send money even more quickly the following time.
