If you need to transfer funds to Lebanon, you may be seeking the most economical method. In this blog, we will be discussing some of the methods that can assist you in reducing costs when sending money to Lebanon.
3 Ways to Save Money When Sending Money to Lebanon
Compare exchange rates and fees
To save on costs, compare exchange rates and fees from various providers when sending money to Lebanon. Some options may provide more favorable rates and lower fees, making it important to research and compare options. To find out more, read our blog on What to look out for when sending money to Lebanon.
Use online providers
Online money transfer providers can offer competitive exchange rates and fees compared to traditional banks. In addition, they may have quicker turnaround times, making them a suitable choice for urgent money transfers to Lebanon.
Use a specialist money transfer provider
Compared to banks or traditional money transfer providers, specialized providers like Paysend and Remitly often offer more competitive rates and lower fees.
Introducing Purpl: A new way to receive money in Lebanon
Expatriate remittances contribute significantly to the Lebanese economy, totaling $7 billion in 2020. Purpl aims to financially empower all Lebanese individuals.
Purpl strives to be the go-to partner for the $7BN in yearly remittance inflows to Lebanon. Our ecosystem, including partnerships with Paysend and Remitly, makes money transfers to Lebanon simpler, safer, and more cost-effective.
Purpl, in partnership with Paysend and Remitly, enables Lebanese expatriates and non-Lebanese people in over 40 countries to send money to Lebanon, instantly, safely, and at low fees. The beneficiary of funds can benefit from Purpl’s services without the need for a bank account thanks to Purpl’s partnership with a reputable Lebanese bank, which enables cardless ATM cash out.
Are you wondering how to use Purpl? Here are the steps
- Download Purpl: Purpl is available on Apple Store and Google Play
- Sign up: It just takes a couple of minutes and all you need to get your profile verified is your ID and a selfie.
- Receive: Receive money sent by family or friends instantly at your fingertips.
- Cash out: Choose the most convenient cash out location using Purpl geo locator and cash out effortlessly.
“Purpl me”, the new way of sending, receiving and spending money in Lebanon
Written by: Sarah Hammad