Money transfer and types of options to send money
Money transfer involves the cashless modes of payment or payment systems which include electronic funds transfer, wire transfer that is a bank-to-bank fund transfer, giro which is a direct deposit and money order that uses postal cheques. Need to transfer money to Guinea Bissau? There are various modes of money transfer in the country mainly: The Western Union, Coinstar Money Transfer, and Worldremit. However, Coinstar Money Transfer should be your preferred mode of transfer since it has more than 10,000 representative offices in Guinea Bissau and also in 80 countries with its services being at affordable prices. They also have the E-payment services where they offer prepaid cards to companies once they have come to terms of agreement such as Facebook, MySpace, and common multiplayer online games.
Restrictions on receiving money
Coinstar Money Transfer has benefits of payments having a transfer time of 3-5minutes in the system. The CMT limits the time at which the person receiving the money takes it which is about a month approximately 30-40 days. If the recipient fails to collect the money in a year Coinstar Money Transfers are returned to the sender on request.
Restrictions on sending money
Process to send money
There is a transfer fee that is paid and varies from country to country that is quite favourable to the customers. The CMT ensure convenience in the money transfer, confidence, and speed. They provide good customer care by allowing complaints from the customers, reviewing them and on handling them they inform the customer of their decision in regards to their needs.
The number of countries and service points of Coinstar Money Transfer is constantly increasing with the services being widespread to various countries worldwide. Sale of insurance products in bank networks is possible due to the connecting of the insurance companies to the Integration processing system of Coinstar Money Transfer.
The currency rate will vary in Guinea Bissau? Every day a countrys currency rate will vary. There are certain economic factors which will influence this and these are out of an individual's control. In fact there is nothing you can do, apart from transferring money when the currency rate is good to avoid these effects. So when it comes to setting up a money transfer to Guinea-Bissau you should study the currency rates and send money when the rate is good.
Think about using Euros in Guinea Bissau
Guinea-Bissau use the Communaute Financiere Africaine franc as their main unit of currency and this is tied to the Euro. The symbol for the Communaute Financiere Africaine franc is CFA or XAF so look out for this when you are looking at exchange rates. As the CFA is tied to the Euro some people will send this to their recipient instead. This is perfectly acceptable but you need to make sure that you do not send money to Guinea-Bissau on a prepaid credit card as these are not accepted outside of Bissua. Instead use a simple online currency transfer in the currency of your choice.
Where can you check out the currency rate in Guinea Bissau?
If you would like to check out the most recent currency rate before you transfer money to Guinea-Bissau you can do this online virtually instantly. Use an online currency converter and put the amount of money, in your currency you wish to send. Click to convert your currency into Communaute Financiere Africaine francs and you will quickly see how much your recipient should expect to receive. You can use a tool like this whenever you want as it is totally free of charge.