Whether you need to pay household utility bills, medical expenses, insurance premiums or school fees, making payments to a service provider located in another country can be both challenging and expensive. But if you think that your options are limited to using an international money transfer service to make cross-border bill payments, you should keep reading. There are many cost-saving services that can help you quickly and easily pay bills in another country.
Credit Card Payments
If speed is your priority, then using a credit card should be at the top of your list. You will likely be charged a percentage fee ranging from 3 to 5 percent but it’s a convenient and cost-effective way to pay bills under $100. What’s the drawback? Many service providers still don’t accept credit card payments, and if they do, they often request that you make the payment in person. Clearly, this is not an option if you’re 1,000 miles away from home.
Local Bank Accounts
If you’re making payments to the same country month after month, setting up a local bank account may be the perfect solution. Because most banking can be done online, you can easily deposit money into your foreign account and use it to pay bills. One disadvantage is the hassle of opening the account and maintaining a balance, which may be impossible if you are not a resident of the country.
International Money Transfers
If you know your recipient’s banking details, sending an international money transfer can be a fast and affordable way to pay overseas bills. This is also a great option if you need to pay bills in excess of $200 because the exchange rate will be better than what your bank or credit card provider will charge. The largest drawback of this method is that it can be an expensive way to send money overseas for small, recurring payments.
International Payment Apps
Technology has transformed how we send and receive money, and it’s now changing how we pay our bills. New services like Xoom and MyBillAfrica are making it easier for millions of users to make cross-border bill payments in countries that lack a well-developed banking sector. Despite many advantages, using these service providers can be expensive as the exchange rates and fees they charge can vary considerably from region to region. Additionally, they often lack the reach of other payment options. For example, with Xoom you can pay bills in only 10 countries and MyBillAfrica has only partnered with 8 African nations.
Is There a Better Alternative?
Absolutely! Bill Pay Your Way allows you to pay bills in 18 countries with no transaction fees directly from your secure SolidTrust Pay e-wallet. You’ll get instant access to more than 800 service providers around the globe and your payments are not limited to utility companies. In addition to making payments for electricity, water, gas, cable, satellite, landline, mobile and internet services, you can pay insurance providers, educational institutions, government departments and transportation companies. To make a payment, you only need to provide the billing account number. The balance owing will be automatically provided to you and your payment will be confirmed with the billing company within 48 hours.
When choosing an international bill payment provider, there are two important factors that you do not want to overlook: fees and network size. Hidden charges can quickly take a toll on your financial bottom line, while taking time to register for an account only to discover that the provider possesses a limited payment network can be a disappointing experience.
Bill Pay Your Way solves both problems. We have partnered with over 800 major service providers in 18 countries, and our network of providers and regions is rapidly expanding. Already, we’ve partnered with 159 companies in the Philippines, 114 in India, 41 in Mexico, 36 in Nigeria and 34 in Pakistan, and more are coming. We’ll also save you more money than the competition. You’ll never pay a transaction fee and our competitive exchange rates mean that it’s less expensive to pay a bill using Bill Pay Your Way than it is to send an international money transfer.
With Bill Pay Your Way, you can effortlessly make international bill payments wherever you are and on any device you use. Not only will you ensure that your expenses are easily taken care of, but you can also help guarantee that your family has access to the vital services they need by making payments directly to their service providers. Sign up for your free SolidTrust Pay account to make your first cross-border bill payment,
If you already have a SolidTrust Pay e-wallet, log in to your STPay account and go to My Money > Pay Your Bills. Click on the Bill Icon at the bottom of the page and your payment will be processed within 48 hours. See why thousands of members love Bill Pay Your Way, try it for free today!