The following is a guest blog post to DivHut:
When people need to move money quickly, money transfer services are the go-to resource. The ease of access makes the top money transfer business stocks something to pay close attention to if you watch the market. Many forecasters feel that these companies will only increase in value as more people turn to their services to complete financial transactions quickly and safely.
Money transfer systems are a no-risk way to guarantee the transfer of funds from one person to another. People use money transfer services often; they are profitable, and there is little overhead. These three factors alone are a great formula for investors.
History of Money Transfer Services
In the past, only a handful of money transfer companies were available, and the fees to use them were astronomical. Also, wiring money overseas was very challenging. Typically, the payer had to physically go to the money transfer service office to make the transfer occur. The entire process was a giant waste of time for everyone.
But despite the headache involved in the process, quick money transfers were, and still are, necessary when an emergency arises. Sometimes, you have to get cash to friends and family in need. And when you have to do it quickly, you need a reliable and trustworthy service to handle the process.
Based on their reputation, the following money transfer services are worthy of your consideration if you are thinking about investing in a money transfer stock.
Popular Money Transfer Companies
The Western Union Company (NYSE:WU) began way back in 1851. It was originally called “New York and Mississippi Valley Printing Telegraph Company.” Today, the company’s most popular services are prepaid cards, money transfers, and bill payments. However, Western Union also offers many other services.
The Western Union Company (NYSE:WU) makes it possible to send money to anyone, anywhere in just a few minutes. Just keep in mind that the faster the service you need, the more it will cost you. The Western Union Company (NYSE:WU) has recently expanded. It just partnered with Check Into Cash to offer more options and services for customers. To explore some of the many new programs offered now that these companies have combine, try a Check into Cash locator and stop in and explore the different services.
Paypal Holdings Inc (NASDAQ:PYPL) was created in 1998 and was acquired by eBay Inc (NASDAQ:EBAY) in 2002 before set loose as an independent company again last year. This service can be used to make purchases or to process funds for items that are sold on eBay. PayPal can also be used to transfer funds between family and friends. The bonus of the “Family and Friends” feature is that it is free.
PayPal is also a great tool to use if you want to hide your credit card information behind an additional layer of security. With PayPal, you can make a purchase using your credit card without divulging your credit card information.
PayPal customers in the United States benefit from some of PayPal’s additional convenient features. Paypal Holdings Inc (NASDAQ:PYPL) issues cards to patrons, and the cards allow consumers to access funds from the PayPal account that is attached to the card.
Today Paypal Holdings Inc (NASDAQ:PYPL) is the biggest online payment system in the world. What makes it a great investment is there are no physical locations, so the company has little overhead.