Which is the best company to remit money for my family back home?

There are several things to consider when deciding on a remittance company:

• Exchange rate: shop around and check for the best possible exchange rate you can get for your hard earned money.

• Cable charge/fee: check for the lowest charge per remittance, and if possible remit only once a month to save on this cost.

• Accessibility: You may need to check how much it will cost you to remit money to certain areas in your country. Take into account and calculate the cost difference when you factor in transportation expenses and other miscellaneous expenses. The same applies for your family members who will receive the money.

• Security: Ensure that you remit money through legitimate and secure channels to avoid losing it along the way. Only remit money through reputable/credible companies.

• Always request a 'printed official receipt' on the spot upon handing over the money for remittance. If you are using an online remittance tool or app, keep a screenshot or record of the transaction on your phone or laptop.

Although we do not recommend any particular companies, here is a comparison of different remittance companies and tools so that you can make your own decision about the best option for you.