Discover how to send money internationally using Bitnob, a convenient and affordable platform. Learn about fees, supported currencies, and the benefits of using Bitnob.
It’s highly believed that the popular term ‘breaking the bank’ emerged from sending money internationally. The traditional methods of international money transfers can often be very costly and time-consuming. Even though it’s true that the volume of international transfers is constantly evolving due to factors like economic growth, technological advancements, and geopolitical events, due to these factors, the traditional methods can no longer suffice.
Fortunately, there’s an easier and more modern way to send money internationally without damaging your pocket - The Bitnob App. This guide aims to provide you with a comprehensive overview of the various options available for sending money internationally for less on Bitnob.
By the end of this article, you'll have a better understanding of the different ways to send money internationally and be equipped to make informed decisions to save both time and money on your transfers.
Sending Money Internationally on Bitnob
The best bet to send money internationally for less is by using the Bitnob App. Bitnob allows you to send to recipients in 9 different African countries including; Ghana, Togo, Nigeria, Kenya, Rwanda, Benin Republic, Senegal, Ivory Coast, and Uganda. So you can be in Accra and send money to your friend in Rwanda or order those goods from Senegal. You can send money directly to their Mobile Money accounts, buy bitcoin, or use your virtual debit card to make the payments you want.
Although there are several benefits of using Bitnob to send money internationally, let’s highlight the three most important benefits now.
Cheaper transfer fees
When you use Bitnob to send money across Africa, the transfer rate is unbelievably cheaper, compared to the traditional means we once had which charged ridiculously higher.
Fast transactions
People often have to wait hours or even days to receive money sent from one African country to another, but on Bitnob transfers go through in minutes.
No Hidden Charges
We've all had situations where the money being sent is reduced as the receiver receives it. This is not the case with Bitnob; the recipient receives the exact amount sent.
Bitnob Payment Methods for Sending Money Internationally
Bank Transfers
Bitnob Transfer feature primarily caters to African countries where Mobile Money is the dominant payment method which makes it a method for sending money internationally. The feature allows users to send money directly into bank accounts and mobile money wallets of friends and relatives in African countries. You can send money to directly pay at local shops and businesses which are enabled to accept mobile money payments.
Before now, transfers usually take an average of 2-4 days before it gets to the recipient’s country. With the Bitnob transfer feature, you can now send money into a person’s bank account or mobile money wallet in any of the countries supported by Bitnob. The recipient does not need to have a Bitnob account before you can send them money.
To make a direct transfer into someone’s bank account or mobile money wallet, all you need is their bank or mobile money wallet details and they’re a few taps away from receiving the money you sent.
How to Transfer Money From Bitnob to a Recipient in an African Country
- Tap on the “Transfer” button on the Quick Links section of the homepage
- Tap on “Transfer to Bank or Momo”
- Tap on “Change currency” to select the country of the account or mobile money wallet you want to transfer money to
- Fill out the amount you’d like to transfer, then tap on “Continue”
- Select the account or mobile money provider and fill out the details of the account you want to send money to. If this person is someone you intend to send money often, then tap on “Save as beneficiary” to make the person a beneficiary.
- Tap on “Proceed to Transaction Note” to add a note on the transaction
- Review the transaction summary and then tap on “Proceed” to initiate payment to the account or mobile money wallet.
Paying With Bitcoin
Bitcoin transactions aren't controlled by any single entity like a bank. This can be appealing to those who value anonymity and independence. Bitcoin has a global reach, so in theory, you can send Bitcoin to anyone anywhere in the world with a Bitcoin wallet address. This can be useful for sending money to countries with limited traditional banking infrastructure.
It has a fast setup. No need to set up bank accounts or go through traditional financial institutions. There’s no fee attached to receiving BTC on the Bitnob App. Once you have signed in, verified, and funded your account, you can follow these simple steps to transfer Bitcoin using the Bitnob app:
- Login to the Bitnob app
- Tap Transfer in the quick links section
- Choose "Transfer as BTC"
- Paste the Recipient's BTC address: You can paste the recipient's Bitcoin wallet address, Lightning address, or Lightning invoice.
- Tap "Continue" and follow the rest of the prompts: Confirm the details of your transaction and follow the on-screen instructions to complete the transfer.
Conclusion
The Bitnob App offers an easy and efficient way to send money internationally for less. It is faster, cheaper and there are no hidden charges for you.
Ready to experience the ease and security of the Bitnob App? Download the Bitnob app and activate your account to get started.