Money Transfer in Sao Tome and Principe
Monetary transactions have become an essential aspect in our daily life. All types of business transactions would need money and thus at the end of the day we would need an effective money transfer technique that is thoroughly reliable. There are various transfer options available today. Various banks and international brokers can do this for you. Even there are various financial agencies that are suited right for the purpose. Thus there are lots of ways you can get your money transferred, but you would need to find the most effective one based on your requirements.
Best Ways of Money Transfer
Now let us take a glance at the money transfer options available in Sao Tome and Principe. There are various international money transfer services that can send or transfer money to and from Sao Tome and Principe. There are eight banks located on the island but still the sector is quite underdeveloped.
The financial agencies that can transfer money to and from this country are the Rational FX, VFX Financial, Easyfx, FC Exchange, Oanda, Currency Fair, Western Union and Bank of Baroda among others. These are some of the best agencies that you can get hold od while transferring your money. You should, however, check the transfer rates and transaction fees to decide the one which is suitable for you.
Options to Send Money
There is also a way to send money if neither you or the beneficiary does not have a bank account. In this case, you would need the help of a money sending bureau that is specialised in dealing with transfers between your home country and Sao Tome and Principe. This method requires you to fill a form in the bureau's local office or online and submit proper ID. The beneficiary can do the same to receive his money. The transaction number provided can be used to check the status of the transaction online.
Restrictions on Money Transfer
Sending money to Sao Tome and Principe is not going to be much of a problem with the government trying to boost trade and economy. Thus money transfers to the African equatorial island of Sao Tome and Principe would no more be a hassle for you.
Transfers are very fast Sao Tome and Principe?
An online money transfer to Sao Tome and Principe is incredibly fast. In the majority of cases the recipient will receive their money on the same day that the transfer was arranged. Obviously this is a much faster timescale than transferring funds between banks. So if you are looking for a speedy way to transfer money to Sao Tome and Principe an online transfer could be just what you are looking for.
Transfers can save you money to Sao Tome and Principe?
Transfers can also save you money in fees for both you and your chosen recipient. Some methods of transfer incur a fee for the recipient for receiving the money which is something that everyone want to avoid. Not only that but when you send money to Sao Tome and Principe you will also pay a much smaller fee to arrange the transfer than a bank would typically charge.
Currency information for Sao Tome and Principe?
The currency that is used in Sao Tome and Principe is the dobra (Db) and this has been in use since 1977. In 2009 Sao Tome and Principe agreed a deal with Portugal which tied the dobra to the Euro. This means that if you check the currency rate Sao Tome and Principe follows there will never be any difference between the dobra and the Euro in terms of exchange. Many different currencies are tied to each other and this is something that a lot of people are unaware of but it does pay to know this kind of information when it comes to exchanging currency.