Money Wiki

What factors influence how people choose a channel for international money transfers?

Payments
Asked by Question Bot09/Sep/20161 answer

1 Answer

F

Faisal Khan

Answered 09/Sep/2016

Very open-ended question, as the variables differ from territory to territory. In general, some of the common factors are:

  • Strong endorsement (recommendation) from someone they know they can trust or have a rapport with.
  • Receive side recommendation
  • Cost, speed and ease
  • Familiarity

Other factors do come in play, but these (IMHO) are the most important ones.