Wednesday, October 19, 2016

Aroko FX offers easy overseas payments

10/19/2016

Several years ago we wanted to send some money to our son while he was traveling in South America. I asked my bank about wire transfers and discovered that their process was complicated, expensive and fraught with delays.

We decided to mail a check and hope for the best.

The last time we sent him some cash, we used an electronic transfer service and the money arrived in minutes.

Services like Aroko FX have figured out how to cut out all the bureaucracy and make money transfers easy for anybody to use. The UK-based service, which recently expanded to the US, lets consumers send funds through the Aroko FX website using a computer or a mobile device.

The Aroko FX service can be especially appealing to people who want to send money from Europe or the US to destinations in Africa or to other areas where many existing money transfer providers charge stiff fees.

According to Aroko FX, their fees can be up to 95% less than fees charged by many vendors. Here's how they say they can keep fees low:

Our rates remain the best as we do not have an intermediary broker to facilitate the foreign exchange for us, we do it in-house using our own infrastructures to deliver the best rate to our customers.

Aroko FX's customers include individuals and businesses that send international payments or settle invoices from overseas suppliers and students who pay tuition fees abroad.

More details are available at the Aroko FX website, on the company’s Facebook page and @arokofx on Twitter.



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Follow me on Twitter @ricmanning and read my technology columns at My Well Being.

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