briodf's comments

3GB of Data + Unlimited SMS and Calls for free sounds very nice? Can you share the name of the provider so that we can add it to our eSIM comparison for Germany https://www.monito.com/en/esim-plans-compared

Great to see more and more competition in the money transfer space, congrats on the launch.

Here's a little comparison by amount received (incl. all fees) with the cheapest provider found on Monito.com (comparison site I co-founded) vs Atlantic Money:

Sending £1000 to:

- EUR: €1,199 vs €1,196.83

- CAD: CA$1,693 vs CA$1,686

- PLN: zł5,737 vs zł5,826.58

- USD: $1,311 vs $1,310

As we can see, the competition on pricing for popular routes will be quite intense! Do you plan on mainly focusing on customers who need to send larger amounts? Or are you planning on developing other differentiators (New routes, customers service, user experience etc...))

Two excellent questions, which I am unfortunately not able to answer with confidence, as it goes into the weeds of payment rails& infrastructure. Someone actually making the transfers (instead of a comparison site like us looking at the available services and recommending you the best one for your needs) would probably have the answers.

Thanks!

This is likely a combination a question of Money Transfer/Transmitter License & compliance, but this is not my area of expertise. A provider like Wise is licensed in the countries where it accepts customers. In this case, Wise is licensed in the US but not in Chile: https://wise.com/help/articles/2932693/how-is-wise-regulated...

As it's a costly and complicated endeavour, they must prioritise the markets they operate in and must have made the business decision not to be licensed in Chile as of now.

Luckily, Monito always try to find local companies filling the gap of big players, and Global66 is an interesting alternative from Chile: https://www.monito.com/send-money/chile/united-states/clp/us...

Moneygram is likely limited in accepting US residents with their US site for similar reasons.

I'm the co-founder of a international money transfer comparison engine, AMA if you have questions about international money transfers from a consumer perspective.

Yes we do. For example, they're the only service we know offering digital money transfers from Mexico to the US: https://www.monito.com/send-money/mexico/united-states/mxn/u...

Thanks for your feedback. Monito.com strives to list as many options as possible and be the most exhaustive source of information about international money transfer fees worldwide. However, we're not always able to access all data as no worldwide regulations require banks or money transfer services to be transparent about their fees and exchange rates (yet).

That being said, in the case of money transfers from India to the USA: InstaReM temporarily suspended money transfers from India last month. As soon as this is re-activated, they will once again appear in our comparison table on all supported corridors from India.

Great post Jurn, thanks for participating in the effort against hidden exchange rate markups.

If you want to check for yourself how much you could save with TransferWise (or one of their competitors) vs banks or PayPal, we've built a comparison site for international money transfer: www.monito.com which compares live exchange rates and fees for any amount you'd like to transfer between two countries/currencies (e.g. US-Euro https://www.monito.com/send-money/united-states/netherlands/...)

Our initial goal was to help migrants save money when they support family back home, but the tool can be used by businesses/freelancers/travellers as well.

Let me know if I can be of any help in the comments, we've become payment geeks over the years!

Have you transferred money across borders with good recommendations lately?

Sending money across borders is historically super complex and expensive, you're right. The WorldBank estimates that it costs an average of 8% in total fees (transfer fees + exchange rate mark-up) to transfer money internationally.

For international transfers with banks and cash-based money transfers, this is still true.

But, in the last 10 years, we've seen hundreds of new online money transfer operators innovating in the field (way before crypto) starting with Xoom in the first wave and then TransferWise, Remitly, WorldRemit, InstaRem, Azimo and hundreds of others...

Sending $300 to Mexico to any agent location to pickup cash will cost you $2 with the cheapest option: https://www.monito.com/send-money/united-states/mexico/usd/m...

$1000 from Canada to a bank account in the Philippines in minutes? $6 https://www.monito.com/send-money/canada/philippines/cad/php...

etc...

These new innovative services are up to 10x cheapers than banks or traditional cash-based money transfers, often faster and much more convenient.

That's a nice technical implementation of the Business Model Canvas. However, you should check the licensing under which it has been published as the result of accademic research: https://strategyzer.uservoice.com/knowledgebase/articles/506...

>The Business Model Canvas, released under Creative Commons license, is open for building other approaches and variations on the concept. There have been a number of variations discussed and demonstrated here in the Hub and externally. Where variations have been made, recognition of the original source material must be included in the variation. The text and link Strategyzer.com should be clearly visible and legible under every canvas.

If you're interested in the topic, you should definitely check out https://strategyzer.com/ which is the company co-founded by the former PHD that developped the concept of the Business Model Canvas.

Brilliant!

>Related: 13 people trying to figure out how old a globe is on Quora https://www.quora.com/How-old-can-this-globe-be