When it comes to transferring money to Central Africa from
other nations there are numerous options available. So, to choose the best way
to send money to Central Africa, you need to have detailed information about
the different ways available for sending money to Central Africa. Given below
are some of the options which will help you to make a wise choice while sending
money to your family in Central Africa.
1. Online Transfer
Online transfer is the most convenient and hassle-free way to send money to Central Africa. It does not require anything more than an active internet connection, access to local banking services and some basic information about the recipient of the money. This information includes name and address of the account holder or the recipient, information about the recipient's bank and its IBAN or SWIFT code. This method of money transfer is preferred mostly by those people who need to transfer funds at regular intervals. This form of money transaction does not require you to pay any banking charges and you the entire process can be completed right from your home.
2. Wire Transfer
One of the commonest ways to transfer money over international boundaries is the method of wire transfer. To make a wire transfer you need to visit a bank or any financial agency offering international money transfer services. You have to simply provide the agency or the bank the requisite information about the recipient and recipient's bank. After the completion of this step, the sender institution starts the process of fund transfer by sending a message to the receiving end. The duration taken by this type of money transfer is a few days.
3. International Money Order
If you want to transfer funds to remote locations, this method often proves to be the best way to send money to Central Africa for you. The safety, speedy and cost effective features of international money order makes it very popular among people who need to send smaller amounts of money. The recipients can en-cash the money by depositing the money order into the bank account or at numerous cheque cashing locations.
4. E-mail Money Transfer
E-mail money transfer is in many ways similar to online money transfer. The notable difference between these two methods is that money can be sent without using the recipient's bank information. This type of money transfer is very convenient and does not involve the payment of any extra charges. It follows a detailed process to ensure that your money transfer remains secure.
5. Bank Drafts and Cashier's Cheques
Every bank provides you with bank drafts and cashier's cheques. These services generally involve the payment of some fees and a time span of few days to get it en-cashed. This type of money transfer is associated with the advantage of being traceable if the cheques or drafts don't reach the destination.
Sending money to Africa is a specialist service where not all foreign exchange companies have the ability or banking power to send money or receive currency pairs from Africa. See who can assist without ripping you off for money transfers to Africa.
Foreign Exchange Regulations and Security
As a foreign exchange and money service business provider, the companies we partner with need to be registered by HM Customs and Excise in association with SOCA (Serious Organised Crime Agency). SOCA is responsible for dealing with financial information concerning suspected proceeds of crime in order to counter money laundering or any suspicious activity.
It is now a regulatory requirement that all institutions transmitting funds on behalf of others are registered to these organisations.
The regulations now in force are there to protect both the client and the company executing the transfer on behalf of the client. Foreign Exchange UK only work with partners that are fully comply with the regulations.
The partner we work with for Foreign Exchange UK is TorFX which is profitable, has no debt and continues to grow strongly, with turnover expected to exceed £500,000,000 in 2010. In 2008 we achieved second place in the Sunday Times Fast track 100 awards.
TorFX is authorised and regulated by the Financial Services Authority under the Payment Service Regulations 2009 for the provision of payment services. Our FSA number is 517320. To verify our authorisation, you can visit the FSA Register and search by typing in our FSA number.
Firms authorised by the FSA under the PSR's are required to;
AxiaFX operates segregated client accounts with in accordance with FSA rules on the safeguarding of client funds. These arrangements are independently verified by our auditors.
Currencies Direct is licensed as a money transmitter by HM Revenue and Customs. Our MLR number is 12191606.
AFEX is a member of the UK Money Transmitter’s Association.