The Easiest Way to Send Money to Europe

Sending money across Europe has presented a few challenges for a long time. From the high fees required for processing transactions across borders in Europe to the length of time required to complete these transactions, sending money across Europe is not always the easiest experience. In this blog, we will explore the intricate challenges and problems associated with sending money across Europe and take a look at the solution that Cenoa currently provides.

The challenge you typically face when sending money across Europe is slowly becoming a thing of the past. With Cenoa recently launching a new feature to help you send money across Europe, the future begins to look easier and easier. Let us consider some of the prevalent problems with traditional methods of sending money across Europe and how Cenoa is solving them.

The Problem

Two major problems have been identified when it comes to sending money across Europe and they are the high fees required for sending money and the long time it takes for money to arrive in the local account of the recipient.

High Fees:

• Multiple Intermediaries: Cross-border payments often involve multiple banks and financial institutions, each charging fees that can significantly increase the overall cost, making it an expensive venture.
• Currency Conversion Fees: When sending money between different currencies, exchange rate fees can add to the expense, particularly for larger amounts, and this expectedly raises the cost.

Slow Processing Times:

• Manual Processes: Many traditional banking systems still rely on manual processes, which can lead to delays, especially for international transfers.
• Multiple Clearing and Settlement Systems: Different countries within the EU have their own payment systems, which can slow down the process of transferring money across borders.

The Solution

With the arrival of financial technology, a lot of roadblocks in the way have been removed, most notably, the manual processes involved in facilitating transactions across borders are becoming digitised in many instances, increasing the speed of service delivery.

Blockchain technology has also proven to be a significant help in improving the experience when it comes to sending money globally. Blockchain-based solutions offer a decentralised and transparent way to record and verify transactions, significantly reducing costs and increasing efficiency.

At Cenoa, we are taking advantage of these two aspects of financial innovation to vastly improve the experience of sending money across borders, especially to and within Europe. We have launch a new feature that allows Cenoa users to send money directly to the bank account of anyone across Europe and have them receive the money faster and at 10x less cost.

Send Money to Europe with Cenoa

Cenoa now empowers users to send money to and across Europe at significantly lower rates, with faster transaction times and with a user-friendly interface.

Sending money to Europe has never been easier. With our user-friendly interface, you can send money to your friends, family and business partners and they’ll confirm receipt before you know it.