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Michael Gonzalez

Why is ReadyRemit’s exchange rate different from rates shown on rate checking web sites?

The rates that are displayed on rate checking web sites typically are what is known as the interbank rate. The interbank rate is the rate provided between very large banks/corporations that are trading very large amounts of money through the interbank market. Although we believe we offer competitive rates, we may not be able to provide the interbank rate as we operate by sending individual payments rather than large amounts at one time.

How do I send money?

You can send money in one of two ways:

Bank account – Send a secure transfer directly to banks worldwide. Simply enter the destination country and the amount in USD you want to send. ReadyRemit displays the send amount (in USD), exchange rate, amount recipient will receive (in destination currency), transfer fee, and the total cost to you, the sender, for the transfer. You will next enter the recipient’s details and bank account information and review the transfer details. Finally, select “Send” to complete the transfer.

Cash pickup – Your recipient can collect physical money from a supported location with the Transfast local partner network. Funds are generally ready to pick up within minutes. Simply enter the destination country and the amount in USD you want to send. ReadyRemit displays the send amount (in USD), exchange rate, amount recipient will receive (in destination currency), transfer fee, and the total cost to you, the sender, for the transfer. You will next enter the recipient’s details and review the transfer details. Finally, select “Send” to complete the transfer.

IMPORTANT: For either type of transaction, the recipient’s name must be entered exactly as printed on their government-issued ID!

What do I do if my card is lost or stolen?

You can mark your card lost or stolen in the “Manage Cards” section of the app. This will immediately protect your account from purchases that may be unauthorized by you. After marking your card lost or stolen, you can have it replaced by calling the Customer Service number and requesting a replacement. You can find this number under the “Support” tab in the app or online.