In a globalizing world, borders are no longer as distinct as they used to be. The number of people going abroad for reasons such as work, education, or family visits is increasing day by day. This situation brings along the need to send money abroad. Between transaction fees, commissions, and on top of that, exchange rate differences, you might feel like a portion of the money you send melts away on the road. At this point, Morpara's fee-free money transfer stands out as an attractive alternative.
With the solutions offered by Morpara, sending money both easily and free of charge is simpler than you think. You can deliver the entirety of the money to your loved ones or business partners without any deductions. You can find the steps you need to follow for fee-free international money transfer in the rest of the article.
How to Make a Fee-Free International Money Transfer?
You can easily perform the process of sending money abroad without dealing with complex procedures. If you also want to send money abroad seamlessly, you can start right away by following the steps below:
1.The first step to sending money abroad free of charge is to open an account with Morpara. After completing the registration process, you can verify your identity with a face scan and ensure the security of your account. This stage is highly important both for compliance with legal regulations and for the safety of your transactions.
2. After creating your account, next comes selecting the amount you want to send and the country where the money will arrive. Morpara transparently presents all details regarding the exchange rate and the shipment to you before the transaction. Thus, you will not encounter hidden fees or unexpected deductions.
3. When making an international money transfer via IBAN, it is important to enter the recipient's information completely. Morpara simplifies the process significantly for its users and guides you while filling out the required information. This eliminates the risk of entering incorrect information, ensuring your transfers occur seamlessly.
4. After checking all the information, you can confirm your transfer and wait for the transaction to be completed. Thanks to Morpara’s fee-free transfer feature, the entire amount you send reaches the recipient's account.
5. Morpara's fee-free transfer system not only allows you to escape fees, but it also enables your transactions to be completed rapidly.
How Long Does an International Money Transfer Take?
One of the most frequently asked questions when sending money abroad is how long the transaction will take. This period varies depending on the method used and the processing procedures of the banks. Transfers made through traditional banks usually take 2-5 business days. Transactions that coincide especially with weekends or official holidays can take much longer.
Similarly, the country you are sending to and the location of the recipient bank also affect the transfer duration. In transfers made over long distances, usually more than one intermediary bank processes the transaction. However, this need decreases in nearby regions, shortening the transaction time. Since financial regulations in nearby countries generally show similarities, transactions encounter fewer bureaucratic obstacles.
Compared to traditional methods, sending money abroad with Morpara is much faster. Thanks to instant transaction technology, your money reaches the recipient within the same day in most cases. If you are tired of long waiting times and want to speed up your transactions, you can make your money transfer with Morpara and save time.
Adjusting Limits in International Money Transfers
When sending money abroad, the transaction limit is determined by the intermediary institution. These limits depend on the legal regulations set by countries and platform policies. For example, banks apply daily, monthly, or yearly transfer limits. Usually, much lower limits are set for individual users. Although these limits are generally higher in business accounts, they are still limited. To increase limits, you can contact the bank to upgrade your account type or present additional documents.
At Morpara, the limits are quite flexible. To reach higher transfer limits, you must first upgrade your account to Contracted User status. To switch to this status, you can easily create a registration by downloading the Morpara mobile application and complete the necessary identity verification steps. At Morpara, you can benefit from the following advantages with Contracted User status:
● International Money Sending Limits: You can transfer up to 500,000 TL daily.
● International Money Receiving Limits: You can receive up to 4,000,000 TL daily.
How to Send Money to an International IBAN?
The process of sending money abroad using an IBAN stands out as one of the most common methods today. Used especially in international financial transactions, the SWIFT system is preferred by millions of individuals and institutions worldwide. However, those who want to make international money transfers via Morpara only need to type in the IBAN information. You can complete your transactions securely without the need to use a SWIFT code. In this way, you gain the advantage of easily transacting without dealing with details.
First of all, you must obtain the recipient's IBAN number completely and correctly. An incorrectly entered IBAN number can lead to the delay or cancellation of the transaction. The IBAN is created within a certain standard and generally consists of the following information:
● Country Code: Located at the beginning of the IBAN (for example, TR for Turkey).
● Bank Code and Branch Code: Shows which bank and branch the shipment will be made to.
● Account Number: Represents the recipient's personal bank account.
After entering all the details correctly, you can confirm your transfer and wait for the transaction to be completed safely. In traditional systems, the completion of the transfer may take a few business days. With Morpara's instant transaction technology, your money reaches the recipient's account in the shortest time possible.
What Should You Pay Attention to When Making a Fee-Free International Money Transfer?
If you do not pay attention to some important points while making a fee-free transfer, you may encounter unexpected situations. The things you need to pay attention to for a seamless transfer are listed as follows:
● Entering the IBAN, recipient name, and other required information correctly is very important for the transfer to occur seamlessly. If you enter incorrect information, your transaction may be canceled or a risk of the money going to the wrong account may arise.
● You must pay attention to protecting your personal information when transferring money. In addition to your password, you can make your transactions more secure by using the additional security options offered by Morpara. For example, you can create extra protection with two-factor protections like SMS verification.
● Before choosing among platforms that offer fee-free transfer services, you must check the reliability of the platform. It is highly important to check whether the platform operates in accordance with legal regulations. For example, it should be authorized by the CBRT like Morpara.
● Even if some platforms do not charge a transfer fee, their exchange rate ratios might be higher. Before the transfer, you can manage your money more efficiently by comparing the rate offered by the intermediary platform with the current market rate.
● Processing times can vary in fee-free transfers. While some platforms offer the possibility of instant transfer, in others, the completion of the transaction may take a few business days. Therefore, you must learn the transfer duration in advance for urgent situations.
● You may encounter a specific transfer limit when sending money abroad. Before transacting, you can evaluate whether it is suitable for your needs by checking the limits of the platform.
Enjoy Fee-Free and Secure Transfer with Morpara
Morpara eliminates many difficulties for you that you might encounter while making fee-free money transfers abroad. Protecting both your pocket and saving you time when sending money abroad, Morpara brings together all the conveniences you need during the transfer process. With its transparent transaction policy, rapid transfer advantage, and strong security infrastructure, it offers an experience that is both easy and reliable. If you also want to send money abroad in a free and secure way, discover Morpara and start benefiting from this advantageous service right away!