UK-based FinTech company Paysend has today published a guide for expats and foreign workers whose money transfers home to friends and family may be affected by the current coronavirus crisis.
Closed workspaces, travel bans and entire towns and countries on lockdown have caused significant disturbance to many users of traditional money transfer platforms. High-street banks, remittance outlets and post offices are no longer the most effective ways of sending money abroad, and so regular users of these establishments for sending money must look elsewhere to ensure that money is sent to affected countries, where it may be used for essential items including food, clothes and medicines.
“We want to help creating a better-connected world where the movement of money across borders is seamless,” Abdul Abdulkerimov, Founder and President of Paysend said. “We want to give all users sufficient guidance and information to ensure that money can continue to arrive where it’s needed most. In times of crisis it’s important that we do all we can to help alleviate any problems that have arisen. In a situation like this many people may have to start using digital services and we want to help them in the transition to a safer, cheaper and faster money transfer service.”
Paysend has already started offering zero-fee money transfers to China, and is planning for more supportive initiatives to countries most affected by virus in the coming days.