There are several things to consider when deciding where to remit money for your family members back home:
- 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 in certain areas if you need to travel far, calculate how much difference it will make when you factor in transportation expenses and other related costs. The same applies for your family members who will receive the money.
- Security: Ensure that you remit money through proper and secured channels to avoid losing the money along the way.