When you plan to save money, it all starts with the mindset. To cut down costs doesn’t mean it has to be restrictive. Sending money for repeat payments isn’t belt-tightening; it just takes a bit of financial management and the right money services provider.
Recurring payments
There are things that we have to pay for regularly. These payments include what we have due for loans, subscriptions, payroll, cable, Internet connection, and the like. The amount for these weekly, bi-monthly, and monthly dues are set and included in our expense budget. To cut down the cost of paying for these recurring bills, you can choose to make automatic payments. You can make the process of automatic payments easier with the right money services provider.
Automatic payments
There are ways to automate such recurring payments. Some apps, banks, and credit card companies enable you to do so with their automation tool. Using an automated payment system can provide you with savings, and you won’t have to bother thinking about making the effort to pay for these bills each time. You also won’t miss the due date when using automatic payments.
Total amount saved
To be able to save on transfer fees for automated payments might require time and effort. Yet, if you get to save a few dollars each time for every transaction, the total you saved on a yearly basis will be a hefty amount. Take the time to inquire about this concern from the company that you have a contract with and from the financial institutions that you use as a payment method.
Monitor your payments
You need to be able to monitor your payments. You cannot ignore the automated payments you made, as these have to be checked regularly. You need to get the true picture in real-time. It may sound complicated, but it is actually quite easy if you use one of the best money services provider app.
Store of value
When you place various currency into bank accounts and other similar safe places such as a prepaid debit card, it is savings. The store of value enables you to transfer the money in the future. If you store state-back currencies in virtual US dollar or Euro accounts, in the future, the value of these banknotes can increase because of the exchange rate. By holding on to state-back currencies, over time, your purchasing power can increase.
Our choices
There are various ways to send money, and the cost depends on the payment method. We might think that we are limited when we make payment transactions to like those costly bank-to-bank transfers. We are not limited to using traditional money transfer methods as there are other faster and cheaper options.
Get the advantage
Going online to use an excellent money transfer service does have a lot of advantages. You’ll have an app to use that provides you with traditional transfer methods, such as wire transfers and international bank-to-bank transactions. You’ll also get to send money for free by using the online payment services app for P2P transfers. To add to that, you’ll be able to store US dollars and Euros as you can get a virtual account that can receive both local SEPA and ACH payments.