Remitano Makes Cross-Border Money Transfer Much Easier With the “Cash-Out” Featureby Company Announcement November 12, 2020
To simplify banking and meet its users’ Remittance needs across the globe, Remitano, a global escrow-marketplace, has just launched a smart, free, and safe approach for cross-border money transfers. This system will allow Malaysians to send and receive Malaysian Ringgit (MYR) from other countries without incurring the high fees charged by most traditional banks.
Free Remittance and Cheaper Average Costs for Money Transfers between Malaysia and other countries
As a result of the launch of Remitano’s international cash-out features, Malaysians can now transfer money to their families and friends in different countries multiple times faster than traditional Malaysian banks and other payment platforms.
As you can see in the above table, Remitano fees are minimal and always transparent, unlike other Remittance providers with additional charges upon usage. Remitano is a peer-to-peer crypto exchange that continuously seeks to use blockchain technology to improve international money transfers in Malaysia therefore creating seamless fiat transfers across borders.
How to use the “Cash-out Internationally” feature
The newly launched feature simply helps you convert from the Malaysian Ringgit (MYR) to any other currency, and then send the money to your friends and family in another country without going to the bank. Remitano exchange provides a secure and fast means to make payments in MYR. The equivalent amount is sent securely from your Remitano MYR fiat wallet to the recipient’s fiat wallet.
Why Choose Remitano Exchange over other Remittance platforms?
Besides the growing inflation on the Malaysian Ringgit, the lack of proper banking access and remittance platforms in Malaysia seems to be one reason why Malaysians are turning to cryptocurrency. The absence of proper banking facilities makes it harder for Malaysians to open bank accounts and make swift international payments.
By proactively implementing the international payment feature, Remitano is able to provide users with these benefits –
1.Lower Transactions Fees and Reduced Time
The “cash-out Internationally” feature helps to overcome the disadvantages of traditional international money transfers, such as expensive transaction fees, complicated transfer procedures, and long transaction time.
2. Instant Deposits and Withdrawals
Deposit or withdraw Ringgit with ease, and take advantage of instant internal transactions across all cryptocurrencies using instant trading features. This feature is particularly relevant right now, given that low income earners in Malaysia are having a hard time getting paid via their bank accounts and unable to meet their remittance needs. Unlike other platforms, a deposit or withdrawal reversal on Remitano can only happen when a scheduled bank transfer is canceled for insufficient funds or any other reason arising from the user’s bank.
3.Extremely User-friendly Interface
Experience an easy-to-use website and app interface that provides a quality experience. From fiat wallets to deposit and withdrawal buttons, you can find what you need within the blink of an eye.