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Alternatives to Money Transfer Abroad and UPTION
Many of us have had the need to send or receive money from abroad, even once in our lives. While these processes often become quite costly with commissions deducted, their commission-free methods also result in the transfer taking so long. Let's take a look at the methods of transferring money abroad in the past and now.
SWIFT (Society Worldwide Interbank Financial Telecommunication/World Interbank Financial Telecommunication Association)
The SWIFT system is the name given to all money transfer processes carried out in foreign currency to bank accounts at home or abroad. Thanks to a special international code called the SWIFT code, which is exclusive to the legal entity of each bank, it is ensured that the transfer of money to the currency accounts of banks is carried out.
The first 4 digits of the SWIFT code identify the bank code, the next 2 digits the country code, and the next digits identify the local code and branch code, respectively. This code consists of a total of 11 digits and all uppercase letters, if it does not reach 11 digits, the letter X is added at the end.
Although this system appears to be a fairly simple and fast method of sending money abroad, the high commission rates that are deducted make the job unpleasant.
Leaving aside the SWIFT system, there are also some traditional and well-known ways to send money abroad. These are;
can be said as. However, these methods also have considerable disadvantages in terms of time. Sending through some intermediary companies can be subject to high commission rates and can significantly delay the time for the money to be sent to reach the recipient. Today, when we consider the importance of the concept of time, it comes across as the last choice of the sending party, since the process of sending money through these means becomes a rather painful process.
UPTION
So far, we have studied traditional and technological methods, their advantages and disadvantages. If you are still unsure which method to adopt when it comes to sending money abroad, I would like to tell you about a new, fairly easy, fast and effective method. UPTION, a product developed by UPT, is a mobile application that allows you to transfer money to name, account and card 24/7, both domestically and abroad.
After registering in the UPTION app, where you can transfer money and send and withdraw money in cash with low commissions to more than 160 countries, you will be given a special IBAN when you open TRY, USD and EUR accounts. In addition, with the Dynamic QR feature, you can create custom QR for these currencies I count, pay and collect with the QR you have created. In addition, when you use the Request Money by Message option, you can find out the cost of shared expenses with your friends and collect the cost after sending it as a bulk message to your friends. In addition to all this, in everyday life you can get the chance to benefit from many campaigns and services as the privilege of becoming an UPTION customer.
Let's see the application is already in place most intriguing to the feature. UPTION does not charge any shipping fees for transfers to Europe and Kazakhstan. Both the ability to transfer money 24/7 and the fact that it is not subject to a commission appear to be the most attractive feature of the application.
If you want to become a customer, you first need to download the application, register with your email address or phone number. Then you make your transactions by following the tab that is a customer through the application. After signing the contract, which is sent to your address by courier for free, you become an UPTION customer and you can start enjoying all its privileges. If you wish, you can also sign the contract at UPT dealers, of course, that's up to you. I hear you ask where you can download the app. You can get the UPTION app from all app stores and you too can be an UPTION owner in a very short time.
